Search: EMH
RBA Glossary definition for EMH
EMH – Efficient markets hypothesis. The view that security or stock prices reflect all available information and it is impossible for an investor to consistently 'beat the market'.
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Introduction
1 Mar 1995
RDP
9501
The formal statement of the mainstream academic position was embodied in the Efficient Market Hypothesis (EMH). , ... and which are clearly contrary to the sort of behaviour implied by the EMH.
https://www.rba.gov.au/publications/rdp/1995/9501/introduction.html
Conclusion
1 Mar 1995
RDP
9501
primarily due to their intellectual allegiance to the EMH, and in particular to Friedman's (1953) arguments concerning the stabilising influence of rational speculators.
https://www.rba.gov.au/publications/rdp/1995/9501/conclusion.html
Rational Bubbles
1 Mar 1995
RDP
9501
values. It was the academic community's first attempt to rigorously challenge key propositions of the EMH.
https://www.rba.gov.au/publications/rdp/1995/9501/rational-bubbles.html
Other Informational Inefficiencies
1 Mar 1995
RDP
9501
Download the Paper 90. KB. The EMH assumes that economic agents make correct inferences about an asset's intrinsic value by fully and accurately aggregating all relevant private and public information. ... value. The third broad strand of literature
https://www.rba.gov.au/publications/rdp/1995/9501/other-informational-inefficiencies.html
Fads, Irrational Bubbles, and Noise Traders
1 Mar 1995
RDP
9501
Friedman's (1953) contribution, referred to in the Introduction, contained the central tenet of the EMH that rational speculation will stabilise asset prices and drive out irrational or destabilising speculation. ... Advocates of the EMH claim that, by
https://www.rba.gov.au/publications/rdp/1995/9501/fads-irrational-bubbles-and-noise-traders.html