@article {645337,
	title = {The Mystery of the Multiplying Marks:  A Modification of the Monetary Model},
	journal = {Review of Economics and Statistics},
	volume = {LXIV},
	number = {3},
	year = {1982},
	abstract = {The failure of Uncovered Interest Parity is usually attributed to the idea that risk makes domestic and foreign bonds imperfect substitutes in investors{\textquoteright} portfolios.\&nbsp; If so, as in the portfolio balance model, the the foreign-domestic return differential should be related to the supplies of foreign and domestic bonds that must be held.\&nbsp; It isn{\textquoteright}t.},
	url = {https://search.proquest.com/docview/217154387},
	author = {Jeffrey Frankel}
}
