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Demystifying the Meese-Rogoff Puzzle
Moosa, Imad A., Burns, Kelly
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Description for Demystifying the Meese-Rogoff Puzzle
Hardcover. The authors present compelling evidence, supported by their own measure: the 'adjusted root mean square error', to finally solve the Meese-Rogoff puzzle and provide a new alternative. Num Pages: 150 pages, biography. BIC Classification: KCJ; KFF. Category: (P) Professional & Vocational. Dimension: 224 x 141 x 17. Weight in Grams: 352.
For the past 30 years international monetary economists have believed that exchange rate models cannot outperform the random walk in out-of-sample forecasting as a result of the 1983 paper written by Richard Meese and Kenneth Rogoff. Marking the culmination of their extensive research into the Meese-Rogoff puzzle, Moosa and Burns challenge the orthodoxy by demonstrating that the naïve random walk model can be outperformed by exchange rate models when forecasting accuracy is measured by metrics that do not rely exclusively on the magnitude of forecasting error. The authors present compelling evidence, supported by their own measure: the 'adjusted root ... Read more
For the past 30 years international monetary economists have believed that exchange rate models cannot outperform the random walk in out-of-sample forecasting as a result of the 1983 paper written by Richard Meese and Kenneth Rogoff. Marking the culmination of their extensive research into the Meese-Rogoff puzzle, Moosa and Burns challenge the orthodoxy by demonstrating that the naïve random walk model can be outperformed by exchange rate models when forecasting accuracy is measured by metrics that do not rely exclusively on the magnitude of forecasting error. The authors present compelling evidence, supported by their own measure: the 'adjusted root ... Read more
Product Details
Format
Hardback
Publication date
2014
Publisher
Palgrave Pivot
Condition
New
Number of Pages
150
Place of Publication
Basingstoke, United Kingdom
ISBN
9781137452474
SKU
V9781137452474
Shipping Time
Usually ships in 15 to 20 working days
Ref
99-15
About Moosa, Imad A., Burns, Kelly
Imad Moosa is Professor of Finance at the Royal Melbourne Institute of Technology (RMIT), Australia. He has also held previous appointments at Monash and La Trobe Universities, Australia, and the University of Sheffield, UK. Prior to working in academia he held professional positions at the International Monetary Fund and in investment banking. He has published 16 books and over 200 ... Read more
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