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Annex I. The Open Arbitrage Forecast: or Why the Dollar Must Drop

Published online by Cambridge University Press:  26 March 2020

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Extract

We have adopted the practice of constructing our forecasts by assuming:-

  1. (1) Exchange rates follow the open arbitrage path, with some allowance for risk factors which may change over time.

  2. (2) Our model is an adequate description of the world economy, and that the views embedded in it are shared by participants in the market.

Type
Articles
Information
National Institute Economic Review , Volume 129 , August 1989 , pp. 38
Copyright
Copyright © 1989 National Institute of Economic and Social Research

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