An edition of Understanding the forward premium puzzle
(2007)
Understanding the forward premium puzzle
a microstructure approach
by Craig Burnside
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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.
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Understanding the forward premium puzzle: a microstructure approach
2007, National Bureau of Economic Research
in English
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Understanding the forward premium puzzle: a microstructure approach
2007, National Bureau of Economic Research
electronic resource :
in English
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Book Details
Edition Notes
"July 2007"
Includes bibliographical references (p. 18).
Also available in PDF from the NBER world wide web site (www.nber.org).
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- Created September 29, 2008
- 3 revisions
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| December 15, 2009 | Edited by WorkBot | link works |
| April 25, 2009 | Edited by ImportBot | add OCLC number |
| September 29, 2008 | Created by ImportBot | Imported from Oregon Libraries MARC record |