Mean Aversion in and Persistence of Shocks to the US Dollar: Evidence from Nine Foreign Currencies
This paper analyses the statistical behavior of the US dollar, against nine different currencies, over the float period, with a monthly data set. The martingale hypothesis is rejected for all currencies. However, all currencies have a unit root. There is overwhelming evidence for significant positiv...
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| Format: | Article |
| Language: | English |
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EconJournals
2013-09-01
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| Series: | International Journal of Economics and Financial Issues |
| Subjects: | |
| Online Access: | https://dergipark.org.tr/tr/pub/ijefi/issue/31958/351950?publisher=http-www-cag-edu-tr-ilhan-ozturk |