![](/EPwait.gif)
Heterogeneity of Beliefs and Information Rigidity in the Crude Oil Market: Evidence from Survey Data
Robert Czudaj ()
Additional contact information
Robert Czudaj: Department of Economics, Chemnitz University of Technology
No 50, Chemnitz Economic Papers from Department of Economics, Chemnitz University of Technology
Abstract: This paper assesses information contained in the micro dataset of the ECB Survey of Professional Forecasters regarding quarterly Brent crude oil price forecasts. We examine the expectations building mechanism by referring to the processing of information and confirm the presence of information rigidity within the crude oil market. However, our findings also show that simple models of imperfect information considered in the literature are insufficient to explain the behavior of professional forecasters. We provide additional stylized facts which are helpful for designing more elaborate imperfect information models
Keywords: Crude oil; Disagreement; Expectations; Heterogeneity; Information rigidity; Survey data (search for similar items in EconPapers)
JEL-codes: D83 D84 E44 (search for similar items in EconPapers)
Pages: 47 pages
Date: 2021-09, Revised 2021-09
References: Add references at CitEc
Citations: Track citations by RSS feed
Published in Chemnitz Economic Papers, September 2021, pages 1-47
Downloads: (external link)
https://www.tu-chemnitz.de/wirtschaft/vwl1/../CEP050_Czudaj.pdf First version, 2021 (application/pdf)
Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text
Persistent link: https://EconPapers.repec.org/RePEc:tch:wpaper:cep050
Access Statistics for this paper
More papers in Chemnitz Economic Papers from Department of Economics, Chemnitz University of Technology Contact information at EDIRC.
( ).