haku: @author Wu, Y. / yhteensä: 13
viite: 10 / 13
| Tekijä: | Holmes, M. Wu, Y. |
| Otsikko: | Capital controls and covered interest parity in the EU: evidence from a panel-data unit root test |
| Lehti: | Weltwirtschaftliches Archiv
1997 : VOL. 133:1, p. 76-89 |
| Asiasana: | ECONOMICS CAPITAL EUROPEAN UNION |
| Kieli: | eng |
| Tiivistelmä: | The nature of international linkages between interest rates has important theoretical and policy implications. Covered interest parity (CIP) argues that if exchange markets are efficient, then nominal interest differentials should be offset by the relevant forward exchange premia. Generally, studies supporting CIP have examined eurocurrency rates which are free of capital controls. However, studies which examine onshore interest rates are less clear-cut and find that capital controls interfere with the achievement of CIP. |
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