| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w4928 |
| 来源ID | Working Paper 4928 |
| Fixes: Of The Forward Discount Puzzle | |
| Robert P. Flood; Andrew K. Rose | |
| 发表日期 | 1994-11-01 |
| 出版年 | 1994 |
| 语种 | 英语 |
| 摘要 | Regressions of ex post changes in floating exchange rates on appropriate interest differentials typically imply that the high- interest rate currency tends to appreciate, the `forward discount puzzle.' Using data from the European Monetary System, we find that a large part of the forward discount puzzle vanishes for regimes of fixed exchange rates. That is, deviations from uncovered interest parity appear to vary in a way which is dependent upon the exchange rate regime. By using the many EMS realignments, we are also able to quantify the `peso problem.' |
| 主题 | International Economics ; International Finance |
| URL | https://www.nber.org/papers/w4928 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/562346 |
| 推荐引用方式 GB/T 7714 | Robert P. Flood,Andrew K. Rose. Fixes: Of The Forward Discount Puzzle. 1994. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w4928.pdf（136KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
除非特别说明，本系统中所有内容都受版权保护，并保留所有权利。
