Forward market efficiency and foreign exchange rate determination.
This dissertation studies the simple efficiency hypothesis, which states that the forward exchange rate is an unbiased and efficient predictor of the future spot exchange rate. This hypothesis has been extensively tested, and is overwhelmingly rejected. However, researchers are unable to determine t...
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| Language: | en |
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The University of Arizona.
1994
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| Online Access: | http://hdl.handle.net/10150/186807 |