Construct · 1 fields · 1 citations

Siegel's paradox: a standalone construct

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International finance

the result that forward exchange rates cannot be unbiased predictors of future spot rates from both currencies' viewpoints at once, because of Jensen's inequality.

In international finance, Siegel's paradox refers to the result that forward exchange rates cannot be unbiased predictors of future spot rates from both currencies' viewpoints at once, because of Jensen's inequality. This meaning comes from Siegel (1972) in The Quarterly Journal of Economics.[1]

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Nearby constructs

exchange4 fields · 7 citationsjingle · one word, four constructs forward2 fields · 2 citationsjingle · one word, two constructs future3 fields · 6 citationsjingle · one word, three constructs

References

Siegel, J. J. (1972). Risk, Interest Rates and the Forward Exchange. The Quarterly Journal of Economics, 86(2), 303. https://doi.org/10.2307/1880565

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