September 2, 2003 - XIMB
Fourth, it is a joint test of efficiency and unbiasedness, the two components embodied in the EMH ... They are the rates reported at the end of a month. ... It is well known that regressing one non-stationary series (random walk) against ... Lin, W. T., Lin, H.J., and Chen, Y.H. (2002), ?The Dynamics and Stochastics of Currency ...