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

Ω= E t ( z t+1 E t ( z t+1 ))( z t+1 E t ( z t+1 ) ) . MathType@MTEF@5@5@+= feaagKart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLn hiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr 4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9 vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=x fr=xb9adbaqaaeGaciGaaiaabeqaamaabaabaaGcbaGaeuyQdCLaey ypa0JaaeyramaaBaaaleaacaqG0baabeaakiaacIcacaqG6bWaaSba aSqaaiaabshacaqGRaGaaeymaaqabaGccqGHsislcaqGfbWaaSbaaS qaaiaabshaaeqaaOGaaiikaiaabQhadaWgaaWcbaGaaeiDaiaabUca caqGXaaabeaakiaacMcacaGGPaGaaGPaVlaacIcacaqG6bWaaSbaaS qaaiaabshacaqGRaGaaeymaaqabaGccqGHsislcaqGfbWaaSbaaSqa aiaabshaaeqaaOGaaiikaiaabQhadaWgaaWcbaGaaeiDaiabgUcaRi aaigdaaeqaaOGaaiykaiqacMcagaqbaiaac6caaaa@565B@