@article{oai:nagoya.repo.nii.ac.jp:00014017,
 author = {小林, 照義 and KOBAYASHI, Teruyoshi},
 issue = {3},
 journal = {経済科学},
 month = {Dec},
 note = {This note provides a brief explanation about the so-called "forward premium anomaly" based upon asset pricing theory. Most of the models that have been suggested so far in explaining the anomaly focus on the risk premium demanded by investors. I first show how risk premium is calculated using the standard asset pricing model. The mechanism of the anomaly is then considered within the asset pricing model, regarding foreign currency as a risky asset. I also introduce some important previous studies such as Backus et al. (2001) and Lustig and Verdelhan (2006).},
 pages = {37--50},
 title = {金利平価とフォワード・プレミアム・パズル},
 volume = {59},
 year = {2011}
}