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RDP 8603: Risk Premia, Market Efficiency and the Exchange Rate: Some Evidence Since the Float
Equation (6)
ε
t
+
n
=
α
3
+
Y
(
L
)
P
t
,
n
+
ν
t
L
=
0
,
1
....
,
3
P
t
,
n
=
F
t
,
n
−
S
t
MathType@MTEF@5@5@+= feaagKart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLn hiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr 4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9 vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=x fr=xb9adbaqaaeGaciGaaiaabeqaamaabaabaaGceaqabeaaiiaacq WF1oqzdaWgaaWcbaacbaGaa4hDaiaa+TcacaGFUbaabeaakiabg2da 9iab=f7aHnaaBaaaleaacaaIZaaabeaakiabgUcaRiaa+LfacaGFOa Gaa4htaiaa+LcacaGFqbWaaSbaaSqaaiaa+rhacaGFSaGaa4NBaaqa baGccqGHRaWkcqaHfpqDdaWgaaWcbaGaa4hDaaqabaaakeaacaGFmb Gaa4xpaiaa+bdacaGFSaGaa4xmaiaa+5cacaGFUaGaa4Nlaiaa+5ca caGFSaGaa43maaqaaiaa+bfadaWgaaWcbaGaa4hDaiaa+XcacaGFUb aabeaakiabg2da9iaa+zeadaWgaaWcbaGaa4hDaiaa+XcacaGFUbaa beaakiab=jHiTiaa+nfadaWgaaWcbaGaa4hDaaqabaaaaaa@5BF2@