Why is it so difficult to beat the random walk forecast of exchange rates?

Lutz Kilian and Mark Taylor

Journal of International Economics, 2003, vol. 60, issue 1, 85-107

Date: 2003
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Related works:
Working Paper: Why is it so Difficult to Beat the Random Walk Forecast of Exchange Rates? (2001)
Working Paper: Why is it so difficult to beat the random walk forecast of exchange rates? (2001)
Working Paper: Why Is It So Difficult to Beat the Random Walk Forecast of Exchange Rates? (2001)
Working Paper: Why is it so difficult to beat the Random Walk Forecast of Exchange Rates? (2001)
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