02208cas a2200349 a 4500 AALejournalIMF013403 230101c9999 xx r poo 0 0eng d 5.00 USD 9781475562958 1018-5941 BD-DhAAL BD-DhAAL Dovern, Jonas. Information Rigidities in Economic Growth Forecasts : Evidence from a Large International Panel / Jonas Dovern, Ulrich Fritsche, Prakash Loungani, Natalia Tamirisa. Washington, D.C. : International Monetary Fund, 2013. 1 online resource (24 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students We examine the behavior of forecasts for real GDP growth using a large panel of individual forecasts from 30 advanced and emerging economies during 1989-2010. Our main findings are as follows. First, our evidence does not support the validity of the sticky information model (Mankiw and Reis, 2002) for describing the dynamics of professional growth forecasts. Instead, the empirical evidence is more in line with implications of "noisy" information models (Woodford, 2002; Sims, 2003). Second, we find that information rigidities are more pronounced in emerging economies than advanced economies. Third, there is evidence of nonlinearities in forecast smoothing. It is less pronounced in the tails of the distribution of individual forecast revisions than in the central part of the distribution. Mode of access: Internet Data Set imf Economic imf Forecast imf Information imf WP imf United States imf Fritsche, Ulrich. Loungani, Prakash. Tamirisa, Natalia. IMF Working Papers; Working Paper ; No. 2013/056 Full text available on IMF http://elibrary.imf.org/view/journals/001/2013/056/001.2013.issue-056-en.xml IMF e-Library