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  • 标题:Expectations, foreign exchange forwards and reflections on monetary policy
  • 本地全文:下载
  • 作者:A. FERRO ; G. SCANAGATTA
  • 期刊名称:Moneta e Credito
  • 印刷版ISSN:2037-3651
  • 出版年度:1977
  • 卷号:30
  • 期号:118
  • 出版社:Associazione Economia civile
  • 摘要:The paper provides preliminary analysis on the relationships that can be established between the rates of the forward exchange rate and the spot exchange rates at the various expectations hypothesis. The authors go on to highlight the implications of monetary policy that the various kinds of expectations entail. To test specifically the role of expectations in the determination of exchange rates at the end we will proceed through a couple of simple empirical tests that refer to the spot and forward prices of the Deutsche Mark against the pound on the Frankfurt market in the first four months of 1976.
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