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On Biases in the Measurement of Foreign Exchange Risk Premiums

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NBER1991-10-01 更新2025-01-04 收录
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The hypothesis that the forward rate is an unbiased predictor of the future spot rate has been consistently rejected in recent empirical studies. This paper examines several sources of measurement error and misspecification that might induce biases in such studies. Although previous inferences are

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1991-10-01
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