Is there asymmetry in forward exchange rate bias? Multi-country evidence

This study illustrates that the empirical rejection of the forward rate unbiasedness hypothesis is not sensitive to whether the forward U.S. dollar is quoted at a premium or a discount. It is argued that the reported finding of so-called asymmetry in forward exchange rate bias in earlier work is simply due to the inclusion of a sample period during which a forward rate anomaly exists.

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Year of publication:	2002
Authors:	Zhou, Su ; Kutan, Ali M.
Publisher:	Bonn : Rheinische Friedrich-Wilhelms-Universität Bonn, Zentrum für Europäische Integrationsforschung (ZEI)
Subject:	Devisentermingeschäft \| Wechselkurs \| Schätzung \| US-Dollar \| Welt \| Asymmetry in forward exchange rate bias \| Forward rate anomaly

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Series:	ZEI Working Paper ; B 06-2002
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Working Paper
Language:	English
Other identifiers:	824417682 [GVK] hdl:10419/39639 [Handle] RePEc:zbw:zeiwps:B062002 [RePEc]
Classification:	F31 - Foreign Exchange ; G15 - International Financial Markets
Source:	EconStor

Persistent link: https://www.econbiz.de/10010301306