{
  "title": "Information Rigidity in Growth Forecasts: Some Cross-Country Evidence",
  "publication": "IMF Working Papers, June 1, 2011",
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  "summary": "We document information rigidity in forecasts for real GDP growth in 46 countries over the past two decades. We investigate: (i) if rigidities are lower around turning points in the economy, such as in times of recessions and crises; (ii) if rigidities differ across countries, particularly between a",
  "sections": [
    {
      "heading": "Study scope and objectives",
      "content": "- Authors: Natalia T. Tamirisa, Prakash Loungani, Herman O. Stekler\n- Publication date: June 1, 2011\n- Coverage: forecasts for real GDP growth in 46 countries over the past two decades\n- Principal research questions:\n  - (i) Are rigidities lower around turning points in the economy, such as in times of recessions and crises?\n  - (ii) Do rigidities differ across countries, particularly between advanced countries and emerging markets?\n  - (iii) How quickly do forecasters incorporate news about growth in other countries into their growth forecasts, with a focus on how advanced countries’ growth forecasts incorporate news about emerging market growth and vice versa?"
    },
    {
      "heading": "Key findings and empirical focus",
      "content": "- Documented phenomenon: information rigidity in forecasts for real GDP growth across 46 countries.\n- Emphasis on cross-country heterogeneity:\n  - Comparison of rigidities between advanced countries and emerging markets is a central focus.\n- Turning points analysis:\n  - Investigation centers on whether rigidities are lower during recessions and crisis episodes.\n- International spillovers in forecasting:\n  - Analysis of the speed with which forecasters incorporate news about other countries’ growth into their own forecasts, including advanced-to-emerging and emerging-to-advanced directions."
    },
    {
      "heading": "Methodology and thematic areas",
      "content": "- Econometric and theoretical approaches referenced:\n  - Econometric analysis\n  - Vector autoregression\n  - Rational expectations\n- Thematic subject areas listed:\n  - Banking crises, Financial crises, Financial markets\n  - Emerging and frontier financial markets\n  - Economic theory"
    },
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      "content": "- Series: Working Paper No. 2011/125\n- Issue: 125\n- Volume: 2011\n- Pages: 41\n- DOI: https://doi.org/10.5089/9781455263424.001\n- Stock No: WPIEA2011125\n- ISBN: 9781455263424\n- ISSN: 1018-5941\n\nSource: IMF Working Papers — \"Information Rigidity in Growth Forecasts: Some Cross-Country Evidence\", Natalia T. Tamirisa, Prakash Loungani, Herman O. Stekler, June 1, 2011.\n\n---\n\n Content in this bundle\n\n- wp11125\n  - wp11125 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - wp11125 (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/wp/issues/2016/12/31/information-rigidity-in-growth-forecasts-some-cross-country-evidence-24889"
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    "Authors: Natalia T. Tamirisa, Prakash Loungani, Herman O. Stekler",
    "Published: June 1, 2011",
    "Series: IMF Working Papers",
    "DOI: https://doi.org/10.5089/9781455263424.001",
    "Authors: Natalia T. Tamirisa, Prakash Loungani, Herman O. Stekler",
    "Publication date: June 1, 2011",
    "Coverage: forecasts for real GDP growth in 46 countries over the past two decades",
    "Principal research questions:",
    "Documented phenomenon: information rigidity in forecasts for real GDP growth across 46 countries.",
    "Emphasis on cross-country heterogeneity:",
    "Turning points analysis:",
    "International spillovers in forecasting:",
    "Econometric and theoretical approaches referenced:",
    "Thematic subject areas listed:",
    "Series: Working Paper No. 2011/125",
    "Issue: 125",
    "Volume: 2011",
    "Pages: 41",
    "DOI: https://doi.org/10.5089/9781455263424.001",
    "Stock No: WPIEA2011125",
    "ISBN: 9781455263424",
    "ISSN: 1018-5941",
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