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The World Price of Foreign Exchange Risk

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NBER1993-09-01 更新2025-01-04 收录
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https://www.nber.org/papers/w4459
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We consider a world capital market in which the investor population is heterogenous. Investors of different countries differ in the prices of goods at which they consume the income from their investments. In such a setting, the international CAPM incorporates rewards for exchange rate risk, in
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1993-09-01
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