Puzzling Exchange Rate Dynamics and Delayed Portfolio Adjustment
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https://www.nber.org/papers/w26259
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The objective of this paper is to show that the proposal by Froot and Thaler (1990) of delayed portfolio adjustment can account for a broad set of puzzles about the relationship between interest rates and exchange rates. The puzzles include: i) the delayed overshooting puzzle; ii) the forward
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美国国家经济研究局创建时间：
2019-09-01
