Limited participation and exchange rate dynamics: does theory meet the data ?

Meese and Rogoff [1983] show that macroeconomic models of the Seventies fail to outperform the random walk exchange rate forecasts. Macroeconomics thus provides useless information as far as out-of-sample exchange rate forecasting is concerned. However, since Meese and Rogoff's seminal paper, a...

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Bibliographic details
Main Author: Sopraseuth, Thepthida
Karamé, Frédéric
Patureau, Lise
Format: Paper
Language: English
Place of publication: 01.10.2003
Related: Université Panthéon-Sorbonne (Paris 1)
Data of publication: 2003/10
Series: Cahiers de la Maison des Sciences Economiques
Online Access: available in Bonn?
Database: RePEc
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