Is there asymmetry in forward exchange rate bias? Multi-country evidence

Su Zhou and Ali Kutan

No B 06-2002, ZEI Working Papers from University of Bonn, ZEI - Center for European Integration Studies

Abstract: This study illustrates that the empirical rejection of the forward rate unbiasedness hypothesis is not sensitive to whether the forward U.S. dollar is quoted at a premium or a discount. It is argued that the reported finding of so-called asymmetry in forward exchange rate bias in earlier work is simply due to the inclusion of a sample period during which a forward rate anomaly exists.

Keywords: Asymmetry in forward exchange rate bias; Forward rate anomaly (search for similar items in EconPapers)
JEL-codes: F31 G15 (search for similar items in EconPapers)
Date: 2002
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Persistent link: https://EconPapers.repec.org/RePEc:zbw:zeiwps:b062002

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