Add to ORKGThe paper re-examines the efficiency hypothesis in the foreign exchange market. The traditional efficiency testing equations are reviewed and a model is developed that incorporates Bayesian revisions in the form of devaluation expectations. A number of propositions regarding the pattern of the coefficients in efficiency testing equations are established. The results are confirmed by the empirical estimation of the model for the Greek foreign exchange market.Bayesian Learning; Devaluation; Efficiency; Expectations; Unbiasedness
In this paper, we investigate the behavior of the exchange rate within the frame-work of a standard ...
This paper examines the validity of the efficient market hypothesis (EMH) for the foreign exchange m...
International audienceThis paper examines the heterogeneous market in which economic agents of diffe...
The aim of the paper is twofold: the first one is to examine the theoretical points that constitute ...
The study analyses the applicability of the efficient market hypothesis to the foreign exchange mark...
This paper discusses the important aspects of efficiency, expectations, and risk in the foreign exch...
The paper uses an efficiency specification model of the spot and forward foreign exchange markets an...
Until recently economists focused on structural models that were constrained by a lack of high-frequ...
The aim of the paper is twofold: the first one is to examine the theoretical points that constitute ...
In this study, the profitability of technical analysis and Bayesian Statistics in trading the EUR/US...
Learning about Fundamentals: The Widening of the French ERM Bands in 1993. — The authors incorporate...
This paper tests the hypothesis on market efficiency for returns on the euro against fifteen currenc...
This paper investigates the joint hypothesis of market efficiency and unbiasedness of futures prices...
This paper compares two competing approaches to model foreign exchange market participants’ behavior...
This paper explores the consequences of imperfect knowledge for exchange rate dynamics within the mo...
In this paper, we investigate the behavior of the exchange rate within the frame-work of a standard ...
This paper examines the validity of the efficient market hypothesis (EMH) for the foreign exchange m...
International audienceThis paper examines the heterogeneous market in which economic agents of diffe...
The aim of the paper is twofold: the first one is to examine the theoretical points that constitute ...
The study analyses the applicability of the efficient market hypothesis to the foreign exchange mark...
This paper discusses the important aspects of efficiency, expectations, and risk in the foreign exch...
The paper uses an efficiency specification model of the spot and forward foreign exchange markets an...
Until recently economists focused on structural models that were constrained by a lack of high-frequ...
The aim of the paper is twofold: the first one is to examine the theoretical points that constitute ...
In this study, the profitability of technical analysis and Bayesian Statistics in trading the EUR/US...
Learning about Fundamentals: The Widening of the French ERM Bands in 1993. — The authors incorporate...
This paper tests the hypothesis on market efficiency for returns on the euro against fifteen currenc...
This paper investigates the joint hypothesis of market efficiency and unbiasedness of futures prices...
This paper compares two competing approaches to model foreign exchange market participants’ behavior...
This paper explores the consequences of imperfect knowledge for exchange rate dynamics within the mo...
In this paper, we investigate the behavior of the exchange rate within the frame-work of a standard ...
This paper examines the validity of the efficient market hypothesis (EMH) for the foreign exchange m...
International audienceThis paper examines the heterogeneous market in which economic agents of diffe...