Interest Rate Term Premiums and the Failure of the Speculative Efficiency Hypothesis: A Theoretical Investigation
收藏NBER1989-08-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w3060
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资源简介：
This paper develops a new parity condition for international financial markets which relates differences between the forward exchange rate and the expected future exchange rate to interest rate term premiums. It begins with the general proposition that VIP cannot hold for all maturity horizons if
提供机构：
美国国家经济研究局
创建时间：
1989-08-01
