... Publishing Limited 2009 Foreign exchange Euro Pound sterling US dollar Financial forecasting The seminal study of Meese and Rogoff (1983) reveals that structural models cannot outperform a simple random walk model in forecasting exchange rates. Subsequent studies employing linear...

... be contacted at: narayan@deakin.edu.au © Emerald Group Publishing Limited 2007 Stock markets Stock prices Stock returns Financial forecasting Stock market efficiency implies that prices respond quickly and accurately to relevant information. A random walk process characterizes...