Heterogeneous Expectations and Tests of Efficiency in the Yen/Dollar Forward Foreign Exchange Rate Market
收藏NBER1995-12-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w5376
下载链接
链接失效反馈官方服务：
资源简介：
This paper examines the efficiency of the forward yen/dollar market using micro survey data. We first argue that the conventional tests of efficiency (unbiasedness) of the forward rate or of the survey forecasts do not correspond directly to the zero-profit condition. Instead, we use the survey data
提供机构：
美国国家经济研究局
创建时间：
1995-12-01
