Abstract

This paper provides details on a classroom experiment that focuses on returns to foreign assets given uncertain future exchange rates. Students are assigned the role of foreign analysts and decide how much to invest abroad given their expectations about future exchange rates. The experiment allows students to practice calculating the returns to foreign investments, understand the benefits to skill in predicting future exchange rates, and observe the limitations to that skill. The experiment is ideal for undergraduate students in macroeconomics or international economics courses in a classroom that would allow students to separate into distinct groups.

中文翻译：

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汇率不确定性下的外国资产收益：课堂实验

摘要

本文详细介绍了一个课堂实验，该实验侧重于在未来汇率不确定的情况下对外国资产的回报。学生被分配到外国分析师的角色，并根据他们对未来汇率的预期决定在国外投资多少。该实验让学生练习计算外国投资的回报，了解预测未来汇率的技能的好处，并观察该技能的局限性。该实验非常适合在课堂上学习宏观经济学或国际经济学课程的本科生，它可以让学生分成不同的小组。