Investor overconfidence and the forward premium puzzle

DOI10.1093/RESTUD/RDQ013zbMATH Open1215.91058OpenAlexW3123956423MaRDI QIDQ3012103FDOQ3012103

Authors: Craig Burnside, Bing Han, David Hirshleifer, Tracy Yue Wang 

Publication date: 30 June 2011

Published in: Review of Economic Studies (Search for Journal in Brave)

Full work available at URL: http://www.nber.org/papers/w15866.pdf

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zbMATH Keywords

exchange ratesmonetary policycarry tradePPPmoney supplyforward biasinvestor overconfidence

Mathematics Subject Classification ID

Macroeconomic theory (monetary models, models of taxation) (91B64) Microeconomic theory (price theory and economic markets) (91B24) Trade models (91B60)

Cited In (8)

• Bonds, currencies and expectational errors
• The forward discount puzzle and market efficiency
• Risk premia and overshooting
• Biased learning creates overconfidence
• The forward premium puzzle in a model of imperfect information
• Currency returns, market regimes and behavioral biases
• Measuring and adjusting for overconfidence
• LEARNING, THE FORWARD PREMIUM PUZZLE, AND MARKET EFFICIENCY

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