Kalemli-Ozcan, Sebnem; Varela, Liliana - National Bureau of Economic Research - 2021
currencies of advanced economies and emerging markets, using survey data on expected exchange rate. First, the UIP premium co … changes in interest rate differentials in emerging markets, and by expected changes in exchange rates in advanced countries … with capital inflows and the positive comovement of the UIP premium with the interest rate differentials in emerging …