Does Incomplete Spanning in International Financial Markets Help to Explain Exchange Rates?
收藏NBER2016-02-01 更新2025-01-04 收录
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https://www.nber.org/papers/w22023
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Compared to the predictions of complete market models, actual exchange rates are puzzlingly smooth and only weakly correlated with macro-economic fundamentals, suggesting that market incompleteness plays a key role in exchange rate dynamics. Incompleteness in international financial markets
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美国国家经济研究局创建时间：
2016-02-01
