Chiarella, Carl; He, Xue-Zhong; Zheng, Min - Finance Discipline Group, Business School - 2009
a market microstructure component. The driving macroeconomic factor is the interest rate differential, while the market … market microstructure compo-
nent. The driving macroeconomic factor is the interest rate difierential, while
the market … in exchange rate markets.
Key Words: Exchange rate; interest rate difierential; heterogeneous expectations
JEL …