Chinn, Menzie D.; Meredith, Guy - In: IMF Staff Papers 51 (2004) 3, pp. 409-430
Uncovered interest parity (UIP) has been almost universally rejected in studies of exchange rate movements. In contrast to previous studies, which have used short-horizon data, we test UIP using interest rates on longer-maturity bonds for the Group of Seven countries. These long-horizon...