Infrequent Large Nominal Devaluations and their Impacton the Futures Prices for Foreign Exchange in Brazil

Infrequent Large Nominal Devaluations and their Impacton the Futures Prices for Foreign Exchange in Brazil
This paper discusses the behavior of futures prices for foreign exchange in Brazil during a period of high inflation and successive stabilization attempts (1989-92). After testing for futures prices unbiasedness and predicability by applying the Generalized Method of Moments, the paper argues that the finding of excess returns may be viewed as a... READ MORE...

Publication date: May 1996
ISBN 9781451846799
$15.00

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