Browsing by Author "Kleshchelski, I"

Now showing items 1-1 of 1

    • Do peso problems explain the returns to the carry trade? 

      Burnside, C; Eichenbaum, M; Kleshchelski, I; Rebelo, S (Review of Financial Studies, 2011-03-01)
      We study the properties of the carry trade, a currency speculation strategy in which an investor borrows low-interest-rate currencies and lends high-interest-rate currencies. This strategy generates payoffs that are on average ...