Add to ORKGThe forward-bias puzzle and the failure of uncovered interest parity appear to be the result of monetary policy. That is not a new observation, but I believe that I provide the first detailed economic explanation of how monetary policy creates those puzzles. In addition, I show that, unlike alternative explanations of the forward-bias puzzle and the failure of uncovered interest parity like risk premia and the failure of rational expectations, monetary policy can explain the related puzzles
High interest rate currencies tend to appreciate. This is the uncovered interest rate parity (UIP) p...
The extensive empirical finding that the slope coefficient in the uncovered interest parity conditio...
A major puzzle in financial economics is the apparent drastic inconsis-tency of U.S. data with the e...
Teh Forward-Bias Puzzle, failure of uncovered interest parity and related puzzles suggest that there...
Three puzzles are closely related to the forward-bias puzzle and the failure of uncovered interest p...
When covered interest parity holds, as appears to be the case, the forward exchange rate is not the ...
The forward-bias puzzle is probably the most important puzzle in international finance. But there ...
A complete solution to the forward-bias puzzle should provide an econometric solution and an economi...
This paper argues that considerable switches in monetary policy are able to explain a major part of ...
This paper argues that considerable switches in monetary policy are able to explain a major part of ...
Uncovered interest parity is widely used in open economy macroeconomics. But the evidence rejects U...
Uncovered interest parity is widely used in open economy macroeconomics. But the evidence rejects U...
Past empirical research on monetary policy in open economies has found evidence of the delayed over...
This paper provides a theoretical discussion of the forward premium anomaly. We reformulate the well...
This note outlines the economic theory behind the theory of uncovered interest parity and some of th...
High interest rate currencies tend to appreciate. This is the uncovered interest rate parity (UIP) p...
The extensive empirical finding that the slope coefficient in the uncovered interest parity conditio...
A major puzzle in financial economics is the apparent drastic inconsis-tency of U.S. data with the e...
Teh Forward-Bias Puzzle, failure of uncovered interest parity and related puzzles suggest that there...
Three puzzles are closely related to the forward-bias puzzle and the failure of uncovered interest p...
When covered interest parity holds, as appears to be the case, the forward exchange rate is not the ...
The forward-bias puzzle is probably the most important puzzle in international finance. But there ...
A complete solution to the forward-bias puzzle should provide an econometric solution and an economi...
This paper argues that considerable switches in monetary policy are able to explain a major part of ...
This paper argues that considerable switches in monetary policy are able to explain a major part of ...
Uncovered interest parity is widely used in open economy macroeconomics. But the evidence rejects U...
Uncovered interest parity is widely used in open economy macroeconomics. But the evidence rejects U...
Past empirical research on monetary policy in open economies has found evidence of the delayed over...
This paper provides a theoretical discussion of the forward premium anomaly. We reformulate the well...
This note outlines the economic theory behind the theory of uncovered interest parity and some of th...
High interest rate currencies tend to appreciate. This is the uncovered interest rate parity (UIP) p...
The extensive empirical finding that the slope coefficient in the uncovered interest parity conditio...
A major puzzle in financial economics is the apparent drastic inconsis-tency of U.S. data with the e...