If Exchange Rates Are Random Walks, Then Almost Everything We Say About Monetary Policy Is Wrong
论证如果汇率遵循随机游走，那么传统货币政策理论中的许多结论将不再成立，对经济学研究者有重要启示。
If Exchange Rates are Random Walks, Then Almost Everything We Say About Monetary Policy is Wrong by Fernando Alvarez, Andrew Atkeson and Patrick J. Kehoe. Published in volume 97, issue 2, pages 339-345 of American Economic Review, May 2007