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CURRENCY SUBSTITUTABILITY [1 record]

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Record 1 1986-10-27

English

Subject field(s)
  • Currency and Foreign Exchange
CONT

The existence of risk premiums in currency markets cannot be ruled out. The theoretical conditions for the absence of risk premiums represent limiting circumstances, such as perfect currency substitutability and no government debt, that are unlikely to hold in the real world.

French

Domaine(s)
  • Politique monétaire et marché des changes
CONT

Il est impossible de nier l'existence des primes de risque sur les marchés des changes. Les conditions théoriques de l'absence des primes de risque, telles que la possibilité de substitution parfaite des monnaies et l'absence de dettes du secteur public, sont limitatives et ne semblent pas pouvoir se vérifier dans la pratique.

Spanish

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