Download PDF More Formats on IMF eLibrary Order a Print Copy Create Citation This paper addresses a key puzzle in international finance: whether exchange rates follow a random walk or exhibit ...

Albert Phung has 7+ years of experience as a process improvement consultant for several businesses; currently with Alberta Health Services. Suzanne is a content marketer, writer, and fact-checker. She ...

Random walk theory proposes that stock prices move unpredictably, making it impossible to predict future movements based solely on past trends. This financial theory, first popularized by economist ...

In this paper we give a survey of some recent results for random walk in random scenery (RWRS). On ${\Bbb Z}^{d},d\geq 1$, we are given a random walk with i.i.d. increments and a random scenery with i ...