Risk Neutrality and the Two-Tier Foreign Exchange Market : Evidence from Belgium

Evidence from Belgium

Nopic
In this paper we develop and test a model of a utility maximizing representative agent operating in the Belgium-Luxembourg two-tier foreign exchange market. Our tests examine and fail to reject a risk neutral representative agent utility function. When we combine a risk neutral utility function with goods arbitrage we end up with the implication... READ MORE...

Publication date: October 1989
ISBN 9781451954463
$10.00

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Publication date: October 1989

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