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Subject 3. Random Walks and Unit Roots PDF Download
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Learning Outcome Statements

explain the instability of coefficients of time-series models;

describe characteristics of random walk processes and contrast them to covariance stationary processes;

describe implications of unit roots for time-series analysis, explain when unit roots are likely to occur and how to test for them, and demonstrate how a time series with a unit root can be transformed so it can be analyzed with an AR model;

CFA® 2023 Level II Curriculum, Volume 1, Module 5

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I was very pleased with your notes and question bank. I especially like the mock exams because it helped to pull everything together.
Martin Rockenfeldt

Martin Rockenfeldt

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