Skip to content
RDP 2004-07: The Profitability of Speculators in Currency Futures Markets
Equation (2)
Π
j
,
t
=
∑
i
(
n
e
t
j
,
i
,
t
+
5
P
i
,
t
+
5
−
n
e
t
j
,
i
,
t
P
i
,
t
−
Δ
n
e
t
j
,
i
,
t
P
i
,
[
t
,
t
+
5
]
)
.
s
i
z
e
MathType@MTEF@5@5@+= feaagKart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLn hiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr 4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9 vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=x fr=xb9adbaqaaeGaciGaaiaabeqaamaabaabaaGcbaGamGgGg+Givp acOb4gaaWcbGaAakacOb4GQbGaiGgGcYcacGaAaoiDaaqajGgGaOGa mGgGg2da9macObieqbqaiGgGdGaAagWaaeacObOaiGgGd6gacGaAao yzaiacOb4G0bWaiGgGBaaaleacObOaiGgGdQgacGaAakilaiacOb4G PbGaiGgGcYcacGaAaoiDaiadObOHRaWkcGaAaIynaaqajGgGaOGaiG gGdcfadGaAaUbaaSqaiGgGcGaAaoyAaiacObOGSaGaiGgGdshacWaA aA4kaSIaiGgGiwdaaeqcObiakiadObOHsislcGaAaoOBaiacOb4GLb GaiGgGdshadGaAaUbaaSqaiGgGcGaAaoOAaiacObOGSaGaiGgGdMga cGaAakilaiacObOG0baabKaAacGccGaAaoiuamacOb4gaaWcbGaAak acOb4GPbGaiGgGcYcacGaAaoiDaaqajGgGaOGamGgGgkHiTiadObyH uoarcGaAaoOBaiacOb4GLbGaiGgGdshadGaAaUbaaSqaiGgGcGaAao OAaiacObOGSaGaiGgGdMgacGaAakilaiacObOG0baabKaAacGccGaA aoiuamacOb4gaaWcbGaAakacOb4GPbGaiGgGcYcadGaAaoWaaeacOb OaiGgGdshacGaAakilaiacOb4G0bGamGgGgUcaRiacObiI1aaacGaA aA5waiacObOLDbaaaeqcObiaaOGaiGgGwIcacGaAaAzkaaGaiGgGc6 cacGaAao4CaiacOb4GPbGaiGgGdQhacGaAaoyzaaWcbGaAakacOb4G PbaabKaAa2GamGgGggHiLdaaaa@C71F@