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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...
| Clasificación: | Libro Electrónico |
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| Autor principal: | |
| Autores Corporativos: | , |
| Formato: | Electrónico eBook |
| Idioma: | Inglés |
| Publicado: |
[Washington, D.C.] :
International Monetary Fund, IMF Institute,
2006.
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| Colección: | IMF working paper ;
WP/06/96. |
| Temas: | |
| Acceso en línea: | Texto completo |
| Sumario: | 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. |
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| Descripción Física: | 1 online resource (12 pages) |
| Bibliografía: | Includes bibliographical references. |
| ISBN: | 1283101262 9781283101264 1451908903 9781451908909 1462356877 9781462356874 1452744092 9781452744094 9786613823311 6613823317 |
| ISSN: | 2227-8885 ; |