期刊名称：Acta Universitatis Lodziensis. Folia Oeconomica
印刷版ISSN：0208-6018
出版年度：2017
卷号：2017
期号：2
页码：217-232
DOI：10.18778/0208-6018.328.14
语种：Polish
出版社：Lodz University Press
摘要：he aim of this article is to verify the research hypothesis that assumes the existence of prof‑ itable carry trade operations based on USD or EUR loans in Poland in the years 2006–2010.Summariz‑ ing the results of an empirical test should be noted that investors operating on the Polish money and currency markets could reach up substantial profits from carry trade operations.The achieved results therefore indicate that the International Fisher Effect is not a good tool for forecasting exchange rates in the short term.The results of the empirical test indicate that the decisive role in investors decisions was played by the expectations for the evolution of exchange rates in the future.Due to the unstable USD/PLN and EUR/PLN exchange rates it can therefore be concluded that (the not secured against currency risk) carry trade operations largely accounted for currency speculation.
其他摘要：The aim of this article is to verify the research hypothesis that assumes the existence of prof‑ itable carry trade operations based on USD or EUR loans in Poland in the years 2006–2010.Summariz‑ ing the results of an empirical test should be noted that investors operating on the Polish money and currency markets could reach up substantial profits from carry trade operations.The achieved results therefore indicate that the International Fisher Effect is not a good tool for forecasting exchange rates in the short term.The results of the empirical test indicate that the decisive role in investors decisions was played by the expectations for the evolution of exchange rates in the future.Due to the unstable USD/PLN and EUR/PLN exchange rates it can therefore be concluded that (the not secured against currency risk) carry trade operations largely accounted for currency speculation.
关键词：carry trade;the International Fisher Effect;currency rates
