The forward-bias puzzle : still unsolved

Müller, Christian

doi:10.1016/j.intfin.2011.06.001

Publication type:	Article in scientific journal
Type of review:	Peer review (publication)
Title:	The forward-bias puzzle : still unsolved
Authors:	Müller, Christian
DOI:	10.1016/j.intfin.2011.06.001
Published in:	Journal of International Financial Markets, Institutions & Money
Volume(Issue):	21
Issue:	4
Page(s):	605
Pages to:	610
Issue Date:	2011
Publisher / Ed. Institution:	Elsevier
ISSN:	1042-4431
Language:	English
Subjects:	Puzzle; ZWP; Rational expectation; Uncertainty
Subject (DDC):	332: Financial economics
Abstract:	This article argues that Pippenger's (2011) "Solution to the forward-bias puzzle" must be regarded as an econometric explanation of the famous puzzle, although it does not offer an exhaustive economic answer to it. Some of Pippenger's (2011) findings are reproduced and established in a cointegrated multiple time series model. It is suggested that economists should stop trying to working out the forward-bias puzzle and start looking for fundamentally better models of foreign exchange rate determination. A tentative alternative is provided.
URI:	https://digitalcollection.zhaw.ch/handle/11475/9622
Fulltext version:	Published version
License (according to publishing contract):	Licence according to publishing contract
Departement:	School of Management and Law
Organisational Unit:	Center for Labor, Digital and Regional Economics (CLDR)
Appears in collections:	Publikationen School of Management and Law

Files in This Item:

There are no files associated with this item.

Show full item record

Müller, C. (2011). The forward-bias puzzle : still unsolved. Journal of International Financial Markets, Institutions & Money, 21(4), 605–610. https://doi.org/10.1016/j.intfin.2011.06.001

Müller, C. (2011) ‘The forward-bias puzzle : still unsolved’, Journal of International Financial Markets, Institutions & Money, 21(4), pp. 605–610. Available at: https://doi.org/10.1016/j.intfin.2011.06.001.

C. Müller, “The forward-bias puzzle : still unsolved,” Journal of International Financial Markets, Institutions & Money, vol. 21, no. 4, pp. 605–610, 2011, doi: 10.1016/j.intfin.2011.06.001.

MÜLLER, Christian, 2011. The forward-bias puzzle : still unsolved. Journal of International Financial Markets, Institutions & Money. 2011. Bd. 21, Nr. 4, S. 605–610. DOI 10.1016/j.intfin.2011.06.001

Müller, Christian. 2011. “The Forward-Bias Puzzle : Still Unsolved.” Journal of International Financial Markets, Institutions & Money 21 (4): 605–10. https://doi.org/10.1016/j.intfin.2011.06.001.

Müller, Christian. “The Forward-Bias Puzzle : Still Unsolved.” Journal of International Financial Markets, Institutions & Money, vol. 21, no. 4, 2011, pp. 605–10, https://doi.org/10.1016/j.intfin.2011.06.001.