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 ...

Tim Smith has 20+ years of experience in the financial services industry, both as a writer and as a trader. Gordon Scott has been an active investor and technical analyst or 20+ years. He is a ...

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 ...