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On some parity conditions encountered frequently in international economics

Roll, Richard and Solnik, Bruno (1979) On some parity conditions encountered frequently in international economics. Journal of Macroeconomics, 1 (3). pp. 267-283. ISSN 0164-0704. https://resolver.caltech.edu/CaltechAUTHORS:20190430-084340399

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Abstract

Interest Rate Parity, Purchasing Power Parity, and the Fisher relation between real and nominal interest are intimately connected consequences of optimal multi-period consumption/investment decisions. These three relations hold in their classic form only under complete certainty. With uncertainty, interest rate parity remains unaltered, but more complex equations involving risk premia obtain for purchasing power parity and the Fisher relation. A more complete market (with commodity futures) simplifies considerably these latter two conditions.


Item Type:Article
Related URLs:
URLURL TypeDescription
https://doi.org/10.1016/0164-0704(79)90002-8DOIArticle
Additional Information:© 1979 Published by Elsevier Inc. Received: August, 1978.
Issue or Number:3
Record Number:CaltechAUTHORS:20190430-084340399
Persistent URL:https://resolver.caltech.edu/CaltechAUTHORS:20190430-084340399
Official Citation:Richard Roll, Bruno Solnik, On some parity conditions encountered frequently in international economics, Journal of Macroeconomics, Volume 1, Issue 3, 1979, Pages 267-283, ISSN 0164-0704, https://doi.org/10.1016/0164-0704(79)90002-8. (http://www.sciencedirect.com/science/article/pii/0164070479900028)
Usage Policy:No commercial reproduction, distribution, display or performance rights in this work are provided.
ID Code:95111
Collection:CaltechAUTHORS
Deposited By: Tony Diaz
Deposited On:30 Apr 2019 19:56
Last Modified:03 Oct 2019 21:10

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