Forecasts of The Canada-U. S. Exchange Rate : Efficient Market vs Purchasing Power Parity  

Oleh:

Spiro, Peter S.

Jenis: Article from Bulletin/Magazine
Dalam koleksi: BUSINESS ECONOMICS vol. 26 no. 4 (1991), page 56-61.
Topik: purchasing power parity; forecasts; exchange rate; efficient market; purchasing power parity

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Perpustakaan Pusat (Semanggi) Nomor Panggil: BB20.1 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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Isi artikel

The efficient markets hypothesis states that economists' attempts to forecast exchange rates are futile, because the market value already incorporates all available information. This is found to be true for forecasts at very short horizons. However, a study of forecasts of the canada - U. S. exchange rate shows that for horizons of one year o rmore the market becomes less efficient, and economists can add value by incorporating information about the currency's purchasing power parity value.

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