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Theses

1996

Foreign exchange--Germany.

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Empirical And Theoretical Analysis Of Foreign Exchange Markets : A Case Of Belgium, Germany, And The Netherlands, Ozan Akyureklier Oct 1996

Empirical And Theoretical Analysis Of Foreign Exchange Markets : A Case Of Belgium, Germany, And The Netherlands, Ozan Akyureklier

Theses

The paper uses an efficiency specification model of the spot and forward foreign exchange markets and tests the random walk, the general efficiency, and the unbiasedness hypotheses by utilizing a regression estimation and many different specification and diagnostic tests for the series and the error terms.

The paper discusses the important aspects of efficiency, expectations, and risk in the foreign exchange market. First a brief presentation of the existing single-equation structural models of exchange-rate determination is given. An efficiency specification model of the spot and forward foreign exchange markets applied to test the random walk, the general efficiency, and the …