Bosi, Stefano; Fontaine, Patrice; Le Van, Cuong - Institut de Préparation à l'Administration et à la … - 2013
The international asset pricing models are mostly developed in the case of parity failure (investors of different countries do not agree on the expected returns on securities). In this case, an equilibrium in the in- ternational asset markets may exist, but not in the international good markets....
