Why does the spot-forward discount fail to predict changes in future spot rates?

International Journal of Finance and Economics

Volumn 2, Issue 2, 1997, Pages 121-129

  Goodhart, Charles A E ^a   McMahon, Patrick C ^b   Ngama, Yerima L ^c,d  

^a LONDON SCHOOL OF ECONOMICS   (United Kingdom)

^b TULANE UNIVERSITY   (United States)

^c Diamond Bank Ltd   (Nigeria)

^d UNIVERSITY OF MAIDUGURI   (Nigeria)

Author keywords

Cointegration; Exchange rates; Jensen's inequality; Rational expectations; Risk aversion; Unbiasedness hypothesis

Indexed keywords

EID: 0038290076     PISSN: 10769307     EISSN: None     Source Type: Journal    
DOI: 10.1002/(SICI)1099-1158(199704)2:2<121::AID-IJFE40>3.0.CO;2-T     Document Type: Article

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