Tiwari, Aviral Kumar; Kyophilavong, Phouphet - In: Economic Modelling 43 (2014) C, pp. 38-41
We examine the use of the random walk hypothesis on the BRICS stock indices. Our examination of the stock indices uses a recently developed wavelet-based unit root test by Fan and Gençay (2010) along with a battery of unit root tests. We also examine the sensitivity of the wavelet-based unit...