Uncovered Interest Parity:
This paper provides an overview of the uncovered interest parity assumption. It traces the history of the interest parity concept, summarizes evidence on the empirical validity of uncovered interest parity, and discusses different interpretations of the evidence and the implications for macroeconomi...
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Format: | Elektronisch E-Book |
Sprache: | English |
Veröffentlicht: |
Washington, D.C
International Monetary Fund
2006
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Schriftenreihe: | IMF Working Papers
Working Paper No. 06/96 |
Online-Zugang: | UBW01 UEI01 LCO01 SBR01 UER01 SBG01 UBG01 FAN01 UBT01 FKE01 UBY01 UBA01 FLA01 UBM01 UPA01 UBR01 FHA01 FNU01 BSB01 TUM01 Volltext |
Zusammenfassung: | This paper provides an overview of the uncovered interest parity assumption. It traces the history of the interest parity concept, summarizes evidence on the empirical validity of uncovered interest parity, and discusses different interpretations of the evidence and the implications for macroeconomic analysis. The uncovered interest parity assumption has been an important building block in multiperiod models of open economies, and although its validity is strongly challenged by the empirical evidence, at least at short time horizons, its retention in macroeconomic models is supported on pragmatic grounds by the lack of much empirical support for existing models of the exchange risk premium |
Beschreibung: | 1 Online-Ressource (14 p) |
ISBN: | 145186356X 9781451863567 |
Internformat
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spelling | Isard, Peter Verfasser aut Uncovered Interest Parity Isard, Peter Washington, D.C International Monetary Fund 2006 1 Online-Ressource (14 p) txt rdacontent c rdamedia cr rdacarrier IMF Working Papers Working Paper No. 06/96 This paper provides an overview of the uncovered interest parity assumption. It traces the history of the interest parity concept, summarizes evidence on the empirical validity of uncovered interest parity, and discusses different interpretations of the evidence and the implications for macroeconomic analysis. The uncovered interest parity assumption has been an important building block in multiperiod models of open economies, and although its validity is strongly challenged by the empirical evidence, at least at short time horizons, its retention in macroeconomic models is supported on pragmatic grounds by the lack of much empirical support for existing models of the exchange risk premium Online-Ausg http://elibrary.imf.org/view/IMF001/07644-9781451863567/07644-9781451863567/07644-9781451863567.xml Verlag URL des Erstveröffentlichers Volltext |
spellingShingle | Isard, Peter Uncovered Interest Parity |
title | Uncovered Interest Parity |
title_auth | Uncovered Interest Parity |
title_exact_search | Uncovered Interest Parity |
title_exact_search_txtP | Uncovered Interest Parity |
title_full | Uncovered Interest Parity Isard, Peter |
title_fullStr | Uncovered Interest Parity Isard, Peter |
title_full_unstemmed | Uncovered Interest Parity Isard, Peter |
title_short | Uncovered Interest Parity |
title_sort | uncovered interest parity |
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