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Demystifying the Meese-Rogoff Puzzle

紀錄類型:	書目-語言資料,印刷品 : Monograph/item
正題名/作者:	Demystifying the Meese-Rogoff Puzzle/ by I. Moosa, K. Burns.
作者:	Moosa, I.
其他作者:	Burns, K.
面頁冊數:	XIV, 150 p.online resource. :
Contained By:	Springer Nature eBook
標題:	Macroeconomics. -
電子資源:	https://doi.org/10.1057/9781137452481
ISBN:	9781137452481

Demystifying the Meese-Rogoff Puzzle
Moosa, I.

Demystifying the Meese-Rogoff Puzzle[electronic resource] /by I. Moosa, K. Burns. - 1st ed. 2015. - XIV, 150 p.online resource.

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 mean square error', to finally solve the Meese-Rogoff puzzle and provide a new alternative. Demystifying the Meese-Rogoff Puzzle will appeal to academics with an interest in exchange rate economics and international monetary economics. It will also be a useful resource for central banks and financial institutions.

ISBN: 9781137452481

Standard No.: 10.1057/9781137452481doiSubjects--Topical Terms:

554837
Macroeconomics.

LC Class. No.: HB172.5

Dewey Class. No.: 339

Demystifying the Meese-Rogoff Puzzle
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