haku: @author Verdelhan, A. / yhteensä: 1
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| Tekijä: | Lustig, H. Verdelhan, A. |
| Otsikko: | Investing in foreign currency is like betting on your intertemporal marginal rate of substitution |
| Lehti: | Journal of the European Economic Association
2006 : MAY, VOL. 4:2-3, p. 644-655 |
| Asiasana: | bonds currency markets hedging interest rates |
| Kieli: | eng |
| Tiivistelmä: | This article discusses the fact that investors earn positive returns on high interest rate foreign discount bonds, because these currencies appreciate on average. The authors provide a simple model that replicated these facts |
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