The economic literature has long attributed non-zero expected excess returns in currency markets to time-varying risk premiums demanded by risk-averse investors. This paper, building on Bacchetta and van Wincoop's (2021) portfolio balance framework, shows that such returns can also arise when...

Portfolio management, which involves the strategic allocation and control of investments to achieve predetermined financial goals, is a fundamental aspect of modern finance. It is a dynamic field that intersects with various financial theories, empirical insights and practical applications,...

Portfolio management systems (PMS) in mutual funds are a vital process that involve selecting, allocating, and monitoring investments within the mutual fund. They balance risk and returns consistent with the fund's objectives while ensuring it functions effectively and meets regulatory...