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| Author: | Kwok, C. C. Y. Lubecke, T. H. |
| Title: | Improving the "correctness" of foreign exchange forecasts through composite forecasting. |
| Journal: | Management International Review
1990 : VOL. 30:4, p. 331-352 |
| Index terms: | FORECASTING TECHNIQUES FOREIGN EXCHANGE |
| Language: | eng |
| Abstract: | Previous attempts at composite foreign exchange forecasts mostly deal with "accuracy". Nevertheless, as many international finance scholars argue, the "correctness" criterion may be a more appropriate measure for short-term hedging decisions. A composite forecasting methodology is suggested that may improve the "correctness" of foreign exchange forecasts. Ex post and ex ante tests of "correctness" are described and illustrated. Empirical results lend partial support to the methodology. |
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