Electronic Resource
Oxford, UK
:
Blackwell Publishing Ltd
Review of international economics
1 (1993), S. 0
ISSN:
1467-9396
Source:
Blackwell Publishing Journal Backfiles 1879-2005
Topics:
Economics
Notes:
Survey data on a broad cross section of 17 currencies are used to determine whether the forward discount moves primarily in response to changes in expectations of depreciation, or in the risk premium. We find that, in contrast to earlier studies involving developed country exchange rates, variation in the risk premium is a quantitatively significant factor in movements of the forward discount. However, changes in expectations also have a substantial effect.
Type of Medium:
Electronic Resource
URL:
http://dx.doi.org/10.1111/j.1467-9396.1993.tb00011.x
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