• 1 Introduction
  • 2 Theoretical and Empirical Framework
  • 2.1 Theoretical Background
  • 2.2 Econometric Approach
  • 3 Data Description
  • 3.1 Currency Excess Returns
  • 3.2 Carry Trade Excess Returns
  • 3.3 Additional Variables
  • 4 Empirical Results
  • 4.1 Preliminary Results
  • 4.2 Results from the Smooth Transition Regression Model
  • 5 Conclusion
  • References