A key theoretical prediction in financial economics is that under risk neutrality and rational
expectations a currency's forward rates should form unbiased predictors of future spot rates …

We quantify the causal link between exchange rate movements and sovereign risk of 16
major emerging market economies (EMEs) by means of structural vector autoregressive …

We examine the extent to which uncertainty with regard to macroeconomic policies in
advanced countries spills over to emerging market economies (EMEs) via gross portfolio …

In this paper we investigate the forward premium bias (FPB) puzzle for a number of
developed and developing country currencies. Our main objective is to examine the …

内容提要: 随着利率市场化改革, 汇率改制以及资本账户开放改革进程的加快推进,
我国金融市场面临着前所未有的挑战. 本文从理论上分析了国际资本流动与利率 …

The aim of this paper is to study the relationship between terms of trade and real exchange
rates in commodity-producing countries on both the short and the long run. We investigate …

The aim of this paper is to study the dynamics of regional financial integration in East Asia
over the 1990: 01–2012: 08 period. To this end, we use the international capital asset …

This study adopts an advanced panel club convergence approach to analyzing global
tourism market segmentation. We empirically examine the convergence process of Turkish …

Uncovered interest rate parity (UIP) is a theoretical relation linking changes in exchange
rates and corresponding interest rate differentials. Despite its considerable intellectual …

The main objective of this paper is to examine the efficiency of the foreign exchange (FX)
markets before and during the turbulent periods surrounding the COVID-19 pandemic. Our …