Nonlinearity in Deviations From Uncovered Interest Parity : An Explanation of the Forward Bias Puzzle /
We provide empirical evidence that deviations from uncovered interest rate parity (UIP) display significant nonlinearities, consistent with theories based on transaction costs or limits to speculation. This evidence suggests that the forward bias documented in the literature may be less indicative o...
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| Kolejni autorzy: | , |
| Format: | Czasopismo |
| Język: | English |
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Washington, D.C. :
International Monetary Fund,
2006.
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| Seria: | IMF Working Papers; Working Paper ;
No. 2006/136 |
| Dostęp online: | Full text available on IMF |