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RDP 2004-07: The Profitability of Speculators in Currency Futures Markets
Equation (4)
P
t
+
τ
−
P
t
=
α
0
+
α
1
(
i
t
,
A
A
A
−
i
t
,
B
A
A
)
+
α
2
D
Y
t
,
U
S
+
α
3
i
t
,
U
S
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