Real money balances as a productive input
In: Journal of Monetary Economics, Band 7, Heft 2, S. 207-225
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In: Journal of Monetary Economics, Band 7, Heft 2, S. 207-225
In: Zeitschrift für Nationalökonomie: Journal of economics, Band 40, Heft 1-2, S. 149-168
ISSN: 2304-8360
In: Journal of post-Keynesian economics, Band 4, Heft 1, S. 152-156
ISSN: 1557-7821
In: Journal of political economy, Band 85, Heft 4, S. 851-858
ISSN: 1537-534X
In: The journal of financial research: the journal of the Southern Finance Association and the Southwestern Finance Association, Band 7, Heft 4, S. 281-290
ISSN: 1475-6803
AbstractThis paper examines the effects of interest rate news on changes in forward foreign exchange rates. Virtually none of the errors in forecasting forward exchange rates are explained by interest rate forecasting errors. The results are consistent with a conjecture that the forward exchange rate is not an estimate of the expected spot exchange rate.