Multihorizon Currency Returns and Purchasing Power Parity
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Exposures of expected future depreciation rates to the current interest rate differential violate the UIP hypothesis in a distinctive pattern that is a non-monotonic function of horizon. Conversely, forward, or risk-adjusted expected depreciation rates are monotonic. We explain the two patterns
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美国国家经济研究局创建时间：
2018-04-01
