Using novel real-time data on a broad set of economic fundamentals for …ve major US dollar exchange rates over the recent ‡oat, we employ a predictive procedure that allows the relationship between exchange rates and fundamentals to evolve over time in a very general fashion. Our key …ndings are that: (i) the well-documented weak out-of-sample predictive ability of exchange rate models may be c...

the relationship between objective realities of the time of revelation and impressionability or non- impressionability of revelation from that realities are of the important issues that raised many doubts and debates in recent century. undoubtedly, accepting the impressionability of the holy quran from the realities of that time could be considered as one of the fundamentals of the historicity ...

We report the results of an experiment designed to measure how well asset market prices track fundamentals when the latter experience peaks and troughs. We observe greater price efficiency in markets in which fundamentals rise to a peak and then decline, than in markets in which fundamentals decline to a trough and undergo a subsequent increase. The findings demonstrate that the characteristics...

This paper investigates whether the skewness of firm fundamentals is informative about future firm performance and stock returns. We present two distinct preference-free theoretical models of firm fundamentals, both of which imply a positive relation between the skewness of firm fundamentals and expected stock return. Consistent with this implication, we show empirically that the skewness measu...