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by mortehu
3308 days ago
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But check this out: http://faculty.chicagobooth.edu/workshops/finance/pdf/Verdel... "We find that deviations from the covered interest rate parity condition (CIP) imply large,
persistent, and systematic arbitrage opportunities in one of the largest asset markets in the
world. Contrary to the common view, these deviations for major currencies are not explained
away by credit risk or transaction costs." |
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