Forward Rate Bias in Developed and Developing Countries: More Risky Not Less Rational
This paper examines the stability of the Bilson–Fama regression for a panel of 55 developed and developing countries. We find multiple break points for nearly every country in our panel. Subperiod estimates of the slope coefficient show a negative bias during some time periods and a positive bias du...
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| Автори: | , , |
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| Формат: | Artigo |
| Мова: | Inglês |
| Опубліковано: |
MDPI AG
2020-12-01
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| Серія: | Econometrics |
| Предмети: | |
| Онлайн доступ: | https://www.mdpi.com/2225-1146/8/4/43 |
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