THE EFFICIENCY OF THE INTERNATIONAL MONEY MARKETS: A REPLY
本文是McInish和Puglisi对Taylor批评的回复，他们坚持自己用游程检验检验19种国际货币市场工具弱式效率的方法是满意的，并认为Taylor的理论主张缺乏实证证据。
In their original article, McInish and Puglisi (1982) examine the weak form efficiency of nineteen international money market instruments using a runs test. Taylor asserts that on theoretical grounds other tests would have been better. McInish and Puglisi argue that their tests were satisfactory and that until empirical evidence is offered the economic significance of Taylor's claims is uncertain (at best).