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A test of the existence of the risk premium in the foreign exchange market vs. the hypothesis of perfect substitutability


  • Jeffrey A. Frankel


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  • Jeffrey A. Frankel, 1979. "A test of the existence of the risk premium in the foreign exchange market vs. the hypothesis of perfect substitutability," International Finance Discussion Papers 149, Board of Governors of the Federal Reserve System (U.S.).
  • Handle: RePEc:fip:fedgif:149

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    References listed on IDEAS

    1. Michael P. Dooley & Jeffrey R. Shafer, 1976. "Analysis of short-run exchange behavior: March, 1993 to September, 1975," International Finance Discussion Papers 76, Board of Governors of the Federal Reserve System (U.S.).
    2. J. E. Meade, 1949. "Degrees of Competitive Speculation," Review of Economic Studies, Oxford University Press, vol. 17(3), pages 159-167.
    3. Johnson, Harry G, 1976. "Destabilizing Speculation: A General Equilibrium Approach," Journal of Political Economy, University of Chicago Press, vol. 84(1), pages 101-108, February.
    4. Stephen W. Salant, 1974. "Profitable speculation, price stability, and welfare," International Finance Discussion Papers 54, Board of Governors of the Federal Reserve System (U.S.).
    5. Ian H Giddy & Gunter Dufey, 1975. "The Random Behavior of the Flexible Exchange Rates: Implications for Forecasting," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 6(1), pages 1-32, March.
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    Cited by:

    1. Dale W. Henderson, 1982. "The role of intervention policy in open economy financial policy: a macroeconomic perspective," International Finance Discussion Papers 202, Board of Governors of the Federal Reserve System (U.S.).

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