Why is it so difficult to beat the random walk forecast of exchange rates?

Author (Corporate)
Series Title
Series Details No.88, November 2001
Publication Date November 2001
Content Type

The authors are Lutz Kilian and Mark P. Taylor.

Source Link Link to Main Source http://www.ecb.int/pub/pdf/scpwps/ecbwp088.pdf
Subject Categories
Countries / Regions