RDP 8603: Risk Premia, Market Efficiency and the Exchange Rate: Some Evidence Since the Float
Equation (7)
ε
t
+
n
=
α
4
+
δ
(
L
)
Y
t
,
n
+
ν
t
L
=
0
,
1
....
,
3
Y
t
,
n
=
S
t
−
S
t
−
n
MathType@MTEF@5@5@+= feaagKart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLn hiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr 4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9 vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=x fr=xb9adbaqaaeGaciGaaiaabeqaamaabaabaaGceaqabeaaiiaacq WF1oqzdaWgaaWcbaacbaGaa4hDaiaa+TcacaGFUbaabeaakiabg2da 9Gqaciaa9f7adaWgaaWcbaGaaGinaaqabaGccqGHRaWkcqaH0oazca GGOaGaa4htaiaacMcacaGGzbWaaSbaaSqaaiaa+rhacaGFSaGaa4NB aaqabaGccqGHRaWkcqaHfpqDdaWgaaWcbaGaa4hDaaqabaaakeaaca GFmbGaa4xpaiaa+bdacaGFSaGaa4xmaiaa+5cacaGFUaGaa4Nlaiaa +5cacaGFSaGaa43maaqaaiaa+LfadaWgaaWcbaGaa4hDaiaa+Xcaca GFUbaabeaakiabg2da9iaa+nfadaWgaaWcbaGaa4hDaaqabaGccqWF sislcaGFtbWaaSbaaSqaaiaa+rhacqWFsislcaGFUbaabeaaaaaa@5CC8@