RDP 9103: The Failure of Uncovered Interest Parity: Is it Near-Rationality in the Foreign Exchange Market? Equation

r t+1 j =(l+ i t js ) S t j S t+1 j p t us p t+1 us l. MathType@MTEF@5@5@+= feaagKart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLn hiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr 4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9 vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=x fr=xb9adbaqaaeGaciGaaiaabeqaamaabaabaaGcbaGaaeOCamaaDa aaleaacaqG0bGaae4kaiaabgdaaeaacaqGQbaaaOGaeyypa0Jaaiik aiaaigdacqGHRaWkcaqGPbWaa0baaSqaaiaabshaaeaacaqGQbGaae 4CaaaakiaacMcadaWcaaqaaiaabofadaqhaaWcbaGaaeiDaaqaaiaa bQgaaaaakeaacaqGtbWaa0baaSqaaiaabshacaqGRaGaaeymaaqaai aabQgaaaaaaOWaaSaaaeaacaqGWbWaa0baaSqaaiaabshaaeaacaqG 1bGaae4CaaaaaOqaaiaabchadaqhaaWcbaGaaeiDaiabgUcaRiaaig daaeaacaqG1bGaae4CaaaaaaGccqGHsislcaaIXaGaaiOlaaaa@55DA@