Financial support from the Center for International Business Studies at University of British Columbia, the Social Sciences and Humanities Research Council of Canada, and the European Institute for Advanced Studies in Management is gratefully acknowledged. We are also grateful to Filip Abraham, Reena Aggarwal, Uri Ben-Zion, Paul De Grauwe, Harris Delias, Glen Donaldson, Rob Heinkel, Burton Hollifield, Maurice Levi, Vasant Naik, and Richard Stehle for comments. We would also like to thank the editor, René Stulz, for his suggestions, and the referee for an insightful comment that allowed us to simplify the derivation of our results considerably.
The Exchange Rate in the Presence of Transaction Costs: Implications for Tests of Purchasing Power Parity
Version of Record online: 30 APR 2012
© 1995 the American Finance Association
The Journal of Finance
Volume 50, Issue 4, pages 1309–1319, September 1995
How to Cite
SERCU, P., UPPAL, R. and VAN HULLE, C. (1995), The Exchange Rate in the Presence of Transaction Costs: Implications for Tests of Purchasing Power Parity. The Journal of Finance, 50: 1309–1319. doi: 10.1111/j.1540-6261.1995.tb04060.x
- Issue online: 30 APR 2012
- Version of Record online: 30 APR 2012
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