A Selective Survey of Subsequent Studies
The literature on the Meese-Rogoff puzzle deals with attempts to resolve the puzzle and overturn the Meese and Rogoff results. While various studies show that the results cannot be overturned, some economists have claimed victory over the random walk, but most of these claims are groundless. A concl...
| Main Authors: | , |
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| Format: | Book Chapter |
| Published: |
PALGRAVE
2015
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| Online Access: | http://hdl.handle.net/20.500.11937/73352 |
| _version_ | 1848762992026451968 |
|---|---|
| author | Moosa, I. Burns, Kelly |
| author_facet | Moosa, I. Burns, Kelly |
| author_sort | Moosa, I. |
| building | Curtin Institutional Repository |
| collection | Online Access |
| description | The literature on the Meese-Rogoff puzzle deals with attempts to resolve the puzzle and overturn the Meese and Rogoff results. While various studies show that the results cannot be overturned, some economists have claimed victory over the random walk, but most of these claims are groundless. A conclusion like this is reached either without appropriate statistical testing to find out if the difference in the root mean square errors is statistically significant or through the use of dynamic models, which amounts to beating the random walk with a random walk. The literature also deals with various issues such as the effect of the forecasting horizon and whether the appropriate benchmark should be the random walk with or without drift. |
| first_indexed | 2025-11-14T10:56:22Z |
| format | Book Chapter |
| id | curtin-20.500.11937-73352 |
| institution | Curtin University Malaysia |
| institution_category | Local University |
| last_indexed | 2025-11-14T10:56:22Z |
| publishDate | 2015 |
| publisher | PALGRAVE |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | curtin-20.500.11937-733522019-01-15T00:16:42Z A Selective Survey of Subsequent Studies Moosa, I. Burns, Kelly The literature on the Meese-Rogoff puzzle deals with attempts to resolve the puzzle and overturn the Meese and Rogoff results. While various studies show that the results cannot be overturned, some economists have claimed victory over the random walk, but most of these claims are groundless. A conclusion like this is reached either without appropriate statistical testing to find out if the difference in the root mean square errors is statistically significant or through the use of dynamic models, which amounts to beating the random walk with a random walk. The literature also deals with various issues such as the effect of the forecasting horizon and whether the appropriate benchmark should be the random walk with or without drift. 2015 Book Chapter http://hdl.handle.net/20.500.11937/73352 10.1057/9781137452481_2 PALGRAVE restricted |
| spellingShingle | Moosa, I. Burns, Kelly A Selective Survey of Subsequent Studies |
| title | A Selective Survey of Subsequent Studies |
| title_full | A Selective Survey of Subsequent Studies |
| title_fullStr | A Selective Survey of Subsequent Studies |
| title_full_unstemmed | A Selective Survey of Subsequent Studies |
| title_short | A Selective Survey of Subsequent Studies |
| title_sort | selective survey of subsequent studies |
| url | http://hdl.handle.net/20.500.11937/73352 |