Exchange Rate Expectations and the Risk Premium: Tests For a Cross- Section of 17 Currencies
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Survey data on a broad cross section of 17 currencies are used to determine whether the forward discount moves primarily in response to changes in expectations of depreciation, or in the risk premium. We find that changes in expected depreciation are quantitatively significant. However we also find
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美国国家经济研究局创建时间：
1991-08-01
