Covered Interest Rate Parity holds much better than Purchasing Power Parity". Discuss fully, explaining both theories.

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)
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Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
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Chapter6: Managing In The Global Economy
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Covered Interest Rate Parity holds much better than Purchasing Power Parity".

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