The World Price of Foreign Exchange Risk: Some Synthetic Comments

Bruno Solnik

European Financial Management, 1997, vol. 3, issue 1, 9-22

Abstract: International asset pricing requires to take into account currency risk. Equilibrium models of the international capital market show that risk premia should be associated with currency risks. This is supported by empirical evidence. This paper reviews the existing theoretical and empirical literature and discusses their practical implications.

Date: 1997
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