A consumption-based approach to exchange rate predictability
This paper provides evidence of short-run predictability for the real exchange rate by performing out-of-sample tests of a forecasting equation which is derived from a consumption-based asset pricing model. In this model, the real exchange rate is predict
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Formato: | Documento de trabajo (Working Paper) |
Lenguaje: | Español (Spanish) |
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Banco de la República
2014
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Acceso en línea: | http://repositorio.banrep.gov.co/handle/20.500.12134/6145 |