Risk Neutrality and the Two-Tier Foreign Exchange Market : Evidence from Belgium.
In this paper we develop and test a model of a utility maximizing representative agent operating in the Belgium-Luxembourg two-tier foreign exchange market. Our tests examine and fail to reject a risk neutral representative agent utility function. When we combine a risk neutral utility function with...
| Autor Corporativo: | |
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| Formato: | Revista |
| Idioma: | English |
| Publicado: |
Washington, D.C. :
International Monetary Fund,
1989.
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| Series: | IMF Working Papers; Working Paper ;
No. 1989/083 |
| Acceso en liña: | Full text available on IMF |