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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
  1. Source: authors’ calculations