That period is one year in this case. These are the formula and calculations: Investment B has a higher stated nominal interest rate but the effective annual interest rate is lower than the ...

Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate This paper reexamines some unsettled theoretical and empirical issues regarding ...

is effective in stabilizing the nominal exchange rate in the short run, its impacts on the real exchange rate are less significant: Limitations on nominal exchange rate flexibility may induce ...