Do We Really Know That Financial Markets Are Efficient?
收藏NBER1982-09-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w0994
下载链接
链接失效反馈官方服务：
资源简介：
This paper examines the power of statistical tests commonly used to examine the efficiency of speculative markets. It shows that for markets with "long horizons" such as the stock markets, or the market for long term bonds, these tests have very low power. Market valuations can differ substantially
提供机构：
美国国家经济研究局
创建时间：
1982-09-01
