Understanding the Forward Premium Puzzle: A Microstructure Approach
收藏NBER2007-07-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w13278
下载链接
链接失效反馈官方服务：
资源简介：
High-interest-rate currencies tend to appreciate relative to low-interest-rate currencies. We argue that adverse-selection problems between participants in foreign exchange markets can account for this 'forward premium puzzle.' The key feature of our model is that the adverse selection problem
提供机构：
美国国家经济研究局
创建时间：
2007-07-01
