The Out-of-Sample Success of Term Structure Models as Exchange Rate Predictors: A Step Beyond
收藏NBER2001-11-01 更新2025-01-04 收录
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https://www.nber.org/papers/w8601
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资源简介：
A large literature suggests that standard exchange rate models cannot outperform a random walk forecast and that the forward rate is not an optimal predictor of the spot rate. However, there is evidence that the term structure of forward premia contains valuable information for forecasting future
提供机构：
美国国家经济研究局
创建时间：
2001-11-01
