Grossmann, Axel; Lee, Allissa A.; Simpson, Marc W. - In: International Review of Financial Analysis 34 (2014) C, pp. 140-156
Using pooled data, we study the forward discount bias (FDB) of 24 British pound and 24 euro exchange rates. The results show a FDB during “non-crisis” periods, which is more pronounced for advanced than emerging economies. This finding is especially striking during the period of the European...
