| 000 | 01817cam a22003497 4500 | ||
|---|---|---|---|
| 001 | w13278 | ||
| 003 | NBER | ||
| 005 | 20211020112012.0 | ||
| 006 | m o d | ||
| 007 | cr cnu|||||||| | ||
| 008 | 210910s2007 mau fo 000 0 eng d | ||
| 100 | 1 |
_aBurnside, Craig. _97066 |
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| 245 | 1 | 0 |
_aUnderstanding the Forward Premium Puzzle: _bA Microstructure Approach / _cCraig Burnside, Martin S. Eichenbaum, Sergio Rebelo. |
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_aCambridge, Mass. _bNational Bureau of Economic Research _c2007. |
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_a1 online resource: _billustrations (black and white); |
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| 490 | 1 |
_aNBER working paper series _vno. w13278 |
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| 500 | _aJuly 2007. | ||
| 520 | 3 | _aHigh-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. | |
| 530 | _aHardcopy version available to institutional subscribers | ||
| 538 | _aSystem requirements: Adobe [Acrobat] Reader required for PDF files. | ||
| 538 | _aMode of access: World Wide Web. | ||
| 588 | 0 | _aPrint version record | |
| 690 | 7 |
_aE30 - General _2Journal of Economic Literature class. |
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| 690 | 7 |
_aF31 - Foreign Exchange _2Journal of Economic Literature class. |
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| 700 | 1 |
_aEichenbaum, Martin S. _929337 |
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| 700 | 1 | _aRebelo, Sergio. | |
| 710 | 2 | _aNational Bureau of Economic Research. | |
| 830 | 0 |
_aWorking Paper Series (National Bureau of Economic Research) _vno. w13278. |
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| 856 | 4 | 0 | _uhttps://www.nber.org/papers/w13278 |
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_yAcceso en línea al DOI _uhttp://dx.doi.org/10.3386/w13278 |
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_2ddc _cW-PAPER |
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_c334849 _d293411 |
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