01814cas a2200265 a 4500 AALejournalIMF018967 230101c9999 xx r poo 0 0eng d 5.00 USD 9781484390122 1018-5941 BD-DhAAL BD-DhAAL Cerutti, Eugenio. Covered Interest Parity Deviations : Macrofinancial Determinants / Eugenio Cerutti, Maurice Obstfeld, Haonan Zhou. Washington, D.C. : International Monetary Fund, 2019. 1 online resource (36 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students For about three decades until the Global Financial Crisis (GFC), Covered Interest Parity (CIP) appeared to hold quite closely-even as a broad macroeconomic relationship applying to daily or weekly data. Not only have CIP deviations significantly increased since the GFC, but potential macrofinancial drivers of the variation in CIP deviations have also become significant. The variation in CIP deviations seems to be associated with multiple factors, not only regulatory changes. Most of these do not display a uniform importance across currency pairs and time, and some are associated with possible temporary considerations (such as asynchronous monetary policy cycles). Mode of access: Internet Obstfeld, Maurice. Zhou, Haonan. IMF Working Papers; Working Paper ; No. 2019/014 Full text available on IMF http://elibrary.imf.org/view/journals/001/2019/014/001.2019.issue-014-en.xml IMF e-Library