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Abstract

Vol. 58, No. 2, pp. 163-186 (2007)

“Comparative Statistical Analyses of the Foreign Exchange Rate Survey Data -JCIF and WEIS-”
Kazumi Asako (Institute of Economic Research, Hitotsubashi University), Yasuyuki Komaki (College of Economics, Nihon University), Yosuke Takeda (Faculty of Economics, Sophia University), Toshiki Jinushi (Faculty of Economics, Kobe University), Yasushi Hayashi (Faculty of Economics, Rissho University)

In this paper we conduct comparative statistical analyses of two surveys on the yen/dollar exchange rate in the Tokyo foreign exchange market. We point out that several specific features of the Tokyo foreign exchange market, which have been found by utilizing the well-known JCIF data, are not necessarily supported by the newly-found WEIS data. Differences stem from the fact that JCIF survey is a questionnaire over telephone while the WEIS survey is a summary poll of meeting attendees, implying that some relevant information is shared among forecasters in the WEIS survey, but not among forecasters in the JCIF survey.