Exhibit 4.1 The Hamburger Standard
Real World Example 4.1
Exhibit 4.2 Relative Purchasing Power Parity (PPP)
Exhibit 4.3 IMF’s Real Effective Exchange Rate Indexes for the United States and Japan (1995 = 100)
Real World Example 4.2
Exhibit 4.4 Exchange Rate Pass-Through
Exhibit 4.5 Currency Yield Curves and the Forward Premium
Exhibit 4.6 Interest Rate Parity (IRP)
Exhibit 4.7 Covered Interest Arbitrage (CIA)
Exhibit 4.8 Uncovered Interest Arbitrage (UIA): The Yen Carry Trade
Exhibit 4.9 Interest Rate Parity (IRP) and Equilibrium
Exhibit 4.10 Forward Rate as an Unbiased Predictor for Future Spot Rate
Exhibit 4.11 International Parity Conditions in Equilibrium (Approximate Form)