DO ECONOMIC FORECASTERS BELIEVE THE STOCK MARKET IS EFFICIENT? EVIDENCE FROM GERMANY
The perception of market efficiency is quite different from the reality of market efficiency. We show using a large survey of German market forecasters that few respondents consistently believe that the stock market is currently efficient and will remain so. Past volatility tends to erode the view that the market is efficient and strengthen the belief that the market is inefficient.
Copyright (c) 2021 Richard Deaves, Michael Schröder, Adam Stivers, Ming Tsang
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