What do Financial Markets say about the Exchange Rate?
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https://www.nber.org/papers/w32436
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We develop a general framework characterizing when exchange rates connect or disconnect from fundamentals across different financial market structures. International portfolio risk sharing governs how tightly exchange rates track households stochastic discount factors. We introduce a tractable
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美国国家经济研究局创建时间：
2024-05-01
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