Read e-book online Demystifying the Meese-Rogoff Puzzle PDF

By I. Moosa,K. Burns

ISBN-10: 1137452471

ISBN-13: 9781137452474

ISBN-10: 1349497436

ISBN-13: 9781349497430

For the previous 30 years foreign financial economists have believed that trade fee types can't outperform the random stroll in out-of-sample forecasting as a result of 1983 paper written through Richard Meese and Kenneth Rogoff.

Marking the fruits in their large learn into the Meese-Rogoff puzzle, Moosa and Burns problem the orthodoxy through demonstrating that the naïve random stroll version might be outperformed through alternate cost types whilst forecasting accuracy is measured by way of metrics that don't count completely at the importance of forecasting mistakes. The authors current compelling facts, supported via their very own degree: the 'adjusted root suggest sq. error', to eventually clear up the Meese-Rogoff puzzle and supply a brand new alternative.

Demystifying the Meese-Rogoff Puzzle will entice lecturers with an curiosity in alternate fee economics and overseas financial economics. it is going to even be an invaluable source for primary banks and fiscal institutions.

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Demystifying the Meese-Rogoff Puzzle by I. Moosa,K. Burns

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