Table 4 Accuracy of 1-month and 1-year forecasts
From: Great expectations? evidence from Colombia’s exchange rate survey
Institution | Median | Direction \(\Delta S_{i,t+k}\) | \(+/-\) 50 pesos | Direction \(\Delta S_{i,t+k}\) | \(+/-\) 50 pesos |
|---|---|---|---|---|---|
k = 1 month (%) | k = 1 month (%) | k = 1 year (%) | k = 1 year (%) | ||
Commercial banks | 15 | 66 | 64 | 35 | 9 |
Stock brokers | 19 | 65 | 61 | 43 | 15 |
Pension funds | 5 | 65 | 66 | 49 | 20 |