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Exchange Rates, Interest Rates, and the Risk Premium

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NBER2015-03-01 更新2025-01-04 收录
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https://www.nber.org/papers/w21042
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The well-known uncovered interest parity puzzle arises from the empirical regularity that, among developed country pairs, the high interest rate country tends to have high expected returns on its short term assets. At the same time, another strand of the literature has documented that high real

广为人知的无抛补利率平价之谜(uncovered interest parity puzzle)源于如下经验规律:在发达经济体双边配对中,高利率国家的短期资产往往具备更高的预期回报率。与此同时,另一支文献分支已证实,高实际
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2015-03-01
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