Forward Discount Bias: Is It an Exchange Risk Premium?

摘要: UNIVERSITY OF CALIFORNIA, BERKELEY Department o f Economics Berkeley, California Working Paper 8874 FORWARD DISCOUNT BIAS: IS IT AN EXCHANGE RISK PREMIUM? Kenneth A. F r t J e y a n k l June 6, 1988 Key words: forward exchange, exchange , i s premium, x p c survey d . Abstract A common g h w u b - changes. We use on decompose premium and None our sample premium. j m more v expected I would do reduced magnitude This the same many authors have found with market data, but now cannot be JEL C :