Some Tests of Random Walk Hypothesis for Bulgarian Foreign Exchange Rates

Preprint OPEN
Nikolai Gueorguiev;
  • Subject: econometrics; random walk; exchange rates
    • jel: jel:C22
    mesheuropmc: human activities

The objective of this paper is to check if the exchange rate in newly emerged, relatively thin foreign exchange markets, follows a random walk pattern. The findings of the current study cast doubts on random walk presence in Bulgarian exchange rates against major intern... View more
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