Skip to content
RDP 8707: Asymmetric Information and Bid-Ask Spreads in the Eurocurrency Markets
Equation
z
i
=
E
(
v
|
P
,
ε
)
a
var
(
v
|
P
,
ε
)
−
x
i
=
(
1
+
η
+
ε
)
−
(
1
+
η
)
a
σ
u
2
−
x
i
MathType@MTEF@5@5@+=feaagCart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLnhiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=xfr=xb9adbaqaaeGaciGaaiaabeqaamaabaabaaGceaqabeaacaqG6bWaaSbaaSqaaiaabMgaaeqaaOGaeyypa0ZaaSaaaeaacaqGfbWaaeWaaeaacaqG2bGaaiiFaiaabcfacaGGSaGaeqyTdugacaGLOaGaayzkaaaabaGaaeyyaiaaykW7caqG2bGaaeyyaiaabkhadaqadaqaaiaabAhacaGG8bGaaeiuaiaacYcacqaH1oqzaiaawIcacaGLPaaaaaGaeyOeI0IaaeiEamaaBaaaleaacaqGPbaabeaaaOqaaiabg2da9maalaaabaWaaeWaaeaacaaIXaGaey4kaSIaeq4TdGMaey4kaSIaeqyTdugacaGLOaGaayzkaaGaeyOeI0YaaeWaaeaacaaIXaGaey4kaSIaeq4TdGgacaGLOaGaayzkaaaabaGaaeyyaiaaykW7cqaHdpWCdaqhaaWcbaGaaeyDaaqaaiaaikdaaaaaaOGaeyOeI0IaaeiEamaaBaaaleaacaqGPbaabeaaaaaa@66E8@