Limited participation and exchange rate dynamics: does theory meet the data ?
Meese and Rogoff  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...
|Place of publication:||
Université Panthéon-Sorbonne (Paris 1)
|Data of publication:||2003/10|
Cahiers de la Maison des Sciences Economiques
|Online Access:||available in Bonn?|
Database information Databases - DBIS