This paper provides an empirical examination of the hypothesis that the forward exchange rate provides an "optimal" forecast of the future spot ex-change rate, for five currencies relative to the dollar. This hypothesis provides a convenient norm for examining the erratic behavior of exchange...

This paper provides an empirical examination of the hypothesis that the forward exchange rate provides an quot;optimalquot; forecast of the future spot ex-change rate, for five currencies relative to the dollar. This hypothesis provides a convenient norm for examining the erratic behavior of...

Cover -- Rouledge Library Editions: -- Half Title -- Copyright -- Title -- Copyright1 -- Thanks -- Table of Contents -- Acknowledgments -- List of Tables -- Chapter I Introduction -- Chapter II Foreign Exchange Market Efficiency -- Chapter III The Term Structure of the Forward Premium -- Chapter...