Gravity in FX R-Squared: Understanding the Factor Structure in Exchange Rates
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下载链接：
https://www.nber.org/papers/w23773
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资源简介：
We relate the risk characteristics of currencies to measures of physical, cultural, and institutional distance. The currencies of countries which are more distant from other countries are more exposed to systematic currency risk. This is due to a gravity effect in the factor structure of bilateral
提供机构：
美国国家经济研究局
创建时间：
2017-09-01
