Du, Wenxin. <br/><br/>
CIP Deviations, the Dollar, and Frictions in International Capital Markets / 
Wenxin Du, Jesse Schreger. 
 - Cambridge, Mass.  National Bureau of Economic Research  2021. 
 - 1 online resource:  illustrations (black and white); 
 - NBER working paper series  no. w28777 .
 - Working Paper Series (National Bureau of Economic Research)  no. w28777. .
<br/><br/> May 2021. 
<br/><br/> The covered interest rate parity (CIP) condition is a fundamental arbitrage relationship in international finance. In this chapter, we review its breakdown during the Global Financial Crisis and its continued failure in the subsequent decade. We review how to measure CIP deviations, discuss the drivers of CIP deviations, and the implications of CIP deviations for global financial markets. 
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