Foreign Exchange Risk Premium : Does Fiscal Policy Matter? Evidence From Italian Data

Does Fiscal Policy Matter? Evidence From Italian Data

Foreign Exchange Risk Premium : Does Fiscal Policy Matter? Evidence From Italian Data
This paper challenges the conventional view that foreign exchange risk premiums are small, not volatile, and unrelated to macroeconomic variables. For the Italian lira (1987-94), unconditional risk premiums-constructed using survey data to measure exchange rate expectations-are found to be sizable (relative to the dimension of the forward... READ MORE...

Publication date: April 1997
ISBN 9781451845792
$15.00

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