| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w13278 |
| 来源ID | Working Paper 13278 |
| Understanding the Forward Premium Puzzle: A Microstructure Approach | |
| Craig Burnside; Martin S. Eichenbaum; Sergio Rebelo | |
| 发表日期 | 2007-07-20 |
| 出版年 | 2007 |
| 语种 | 英语 |
| 摘要 | High-interest-rate currencies tend to appreciate relative to low-interest-rate currencies. We argue that adverse-selection problems between participants in foreign exchange markets can account for this 'forward premium puzzle.' The key feature of our model is that the adverse selection problem facing market makers is worse when, based on public information, a currency is expected to appreciate. |
| 主题 | Macroeconomics ; Business Cycles ; International Economics ; International Finance |
| URL | https://www.nber.org/papers/w13278 |
| 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/570949 |
| 推荐引用方式 GB/T 7714 | Craig Burnside,Martin S. Eichenbaum,Sergio Rebelo. Understanding the Forward Premium Puzzle: A Microstructure Approach. 2007. |
| 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 | ||
| w13278.pdf（256KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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