The carry trade in industrialized and emerging markets

dc.contributor.author	Burnside, Craig
dc.date.accessioned	2019-11-01T00:07:11Z
dc.date.available	2019-11-01T00:07:11Z
dc.date.issued	2015
dc.identifier.isbn	978-956-7421-47-3
dc.identifier.uri	https://hdl.handle.net/20.500.12580/3818
dc.description	The profitability of currency carry trades in and of itself is 'economic' evidence against the uncovered interest parity (UIP) condition. There is a wide variety of 'statistical' evidence against UIP. Yet the relationship between these two types of evidence and their implications for time variation in risk premia is not fully understood. Furthermore most of the literature has focused on the currencies of industrialized economies. The failure of UIP in emerging market currencies and its implications for the risk premia of these currencies has received considerably less attention. In this paper I reconsider UIP the carry trade and the behavior of risk premia and draw comparisons between currencies in industrialized economies and those in emerging markets.
dc.format	.pdf
dc.format.extent	Sección o Parte de un Documento
dc.format.medium	p. 245-280
dc.language.iso	eng
dc.publisher	Banco Central de Chile
dc.relation.ispartof	Series on Central Banking Analysis and Economic Policies no. 20
dc.rights	Attribution-NonCommercial-NoDerivs 3.0 Chile	*
dc.rights.uri	http://creativecommons.org/licenses/by-nc-nd/3.0/cl/	*
dc.subject	TIPO DE CAMBIO	es_ES
dc.title	The carry trade in industrialized and emerging markets
dc.type.doc	Artículo
dc.file.name	BCCh-sbc-v20-p245_280

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