Table 2 The Effect of Convenience Yields on Bilateral Exchange Rates
From: Understanding Swiss real interest rates in a financially globalized world
(1) | (2) | (3) | (4) | |
|---|---|---|---|---|
\(q_{j,t-1}\) | −2.208*** | −2.284*** | −2.074*** | \(-\)2.563*** |
(0.340) | (0.369) | (0.323) | (0.400) | |
\(\Delta \eta _{j,h,t}\) | −1.289*** | −0.395 | ||
(0.289) | (0.278) | |||
\(\Delta i_{j,h,t}^R\) | −1.485*** | −1.023** | −1.282*** | |
(0.274) | (0.326) | (0.263) | ||
\(\Delta \lambda _{j,h,t}\) | −0.987** | |||
(0.354) | ||||
\(\Delta \tau _{j,h,t}\) | −1.391*** | |||
(0.322) | ||||
Observations | 2666 | 2666 | 2666 | 2666 |
Within R-squared | 0.0224 | 0.0119 | 0.0158 | 0.0348 |