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Anticipated Consumption and its Impact on Capital Accumulation and Growth : 'Forward-Looking' vs. 'Backward-Looking' Consumption Reference

Monteiro, Goncalo; Turnovsky, Stephen J. - 2021

It has long been argued that the anticipations of some future event will impact current consumption and well-being in … model, by assuming that in addition to his own current consumption, an agent’s current utility depends upon a reference … consumption level that is based on expected future consumption. Two alternative specifications of the anticipated future …

Persistent link: https://www.econbiz.de/10013315651

Foreign exchange risk, equity risk factors and economic growth

Apergēs, Nikolaos; Artikis, Panayiotis G. - In: Atlantic economic journal : AEJ 44 (2016) 4, pp. 425-445

Persistent link: https://www.econbiz.de/10011711140

Countercyclical Currency Risk Premia

Lustig, Hanno - 2016

We describe a novel currency investment strategy, the 'dollar carry trade,' which delivers large excess returns, uncorrelated with the returns on well-known carry trade strategies. Using a no-arbitrage model of exchange rates we show that these excess returns compensate U.S. investors for taking...

Persistent link: https://www.econbiz.de/10013008793

Countercyclical Currency Risk Premia

Lustig, Hanno - 2010

Persistent link: https://www.econbiz.de/10012462229

Countercyclical Currency Risk Premia

Lustig, Hanno - 2020

We describe a novel currency investment strategy, the `dollar carry trade,' which delivers large excess returns, uncorrelated with the returns on well-known carry trade strategies. Using a no-arbitrage model of exchange rates we show that these excess returns compensate U.S. investors for taking...

Persistent link: https://www.econbiz.de/10012857596