Official Interventions and Occasional Violations of Uncovered Interest Party in the Dollar-DM Market
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This paper presents a model of exchange rate determination in which the forward premium anomaly emerges as the result of unanticipated central bank interventions in the foreign exchange market. Deviations from uncovered interest parity (UIP) therefore represent neither unexploited profit
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美国国家经济研究局创建时间：
2003-09-01
