Random Walk Expectations and the Forward Discount Puzzle
收藏NBER2007-06-01 更新2025-01-04 收录
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https://www.nber.org/papers/w13205
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资源简介：
Two well-known, but seemingly contradictory, features of exchange rates are that they are close to a random walk while at the same time exchange rate changes are predictable by interest rate differentials. In this paper we investigate whether these two features of the data may in fact be related. In
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美国国家经济研究局创建时间：
2007-06-01
