Bosi, Stefano; Fontaine, Patrice; Van, Cuong Le - Institut de Préparation à l'Administration et à la … - 2014
-neutral economy where a no-arbitrage condition for assets and PPP hold, but UIRP fails, that the only individually rational Pareto …, under a no- arbitrage condition on the international capital market, we can deffne an exchange rates system for which …