The World Price of Foreign Exchange Risk: Some Synthetic Comments
回顾了国际资产定价中外汇风险的理论与实证文献，讨论其对实践的启示，适合关注汇率风险与资产定价关系的学者。
International asset pricing requires to take into account currency risk. Equilibrium models of the international capital market show that risk premia should be associated with currency risks. This is supported by empirical evidence. This paper reviews the existing theoretical and empirical literature and discusses their practical implications.