Akram, Q. Farooq; Rime, Dagfinn; Sarno, Lucio - Norges Bank - 2005
This paper investigates the presence and characteristics of arbitrage opportunities in the foreign exchange market … round-trip and one-way arbitrage opportunities in real time. The analysis unveils the existence of numerous short …-lived arbitrage oppor- tunities, whose size is economically significant across exchange rates and comparable across different …