Demystifying the Meese-Rogoff Puzzle

Imad Moosa is Professor of Finance at the Royal Melbourne Institute of Technology (RMIT), Australia. He has also held previous appointments at Monash and La Trobe Universities, Australia, and the University of Sheffield, UK. Prior to working in academia he held professional positions at the International Monetary Fund and in investment banking. He has published 16 books and over 200 papers.Kelly Burns is a Research Fellow at Curtin Graduate School of Business, Australia. She has held previous appointments at the Australian Bureau of Statistics, the Department of Premier and Cabinet, the Department of Justice, and the Colonial First State. In 2002, she graduated from La Trobe University, Australia, and was the recipient of the Dean's Medal for Economics.

• 1. The Meese-Rogoff Puzzle 2. A Selective Survey of Subsequent Studies 3. Basic Methodology, Data and Results 4. Alternative Measures of Forecasting Accuracy 5. Stochastic Movements in the Underlying Parameters 6. Model Misspecification 7. The Effect of Non-linearities 8. Simultaneous Equation Bias 9. Sampling Errors 10. Modelling Expectations 11. Concluding Remarks