0410798 20240103182240.020060210235959.9 21 s. cav_un_epca*02904241210-0455111 (2002)17-37Vysoká škola ekonomická v Praze uncovered parity asset prices international consumption-based capital asset pricing model cav_un_auth*0101079 Derviz Alexis UTIA-B Department of Econometrics Ústav teorie informace a automatizace AV ČR, v. v. i. 05D KSK1019101 GA AV ČR cav_un_auth*0000219 CEZ:AV0Z1075907 The paper studies the compliance of the CZK - EUR exchange rate with the uncovered parity of returns on assets denominated in the two named currencies. A comparison with the same property for the euro-dollar rate is made. An uncovered total return parity (UTRP) formula is derived from the equilibrium in a portfolio optimication model with liquidity constrains. AH E http://hdl.handle.net/11104/0130885 UTIA-B 20020012 2002 cav_un_epca*0290424 Prague Economic Papers 1210-0455 2336-730X Roč. 11 č. 1 2002 17 37 Vysoká škola ekonomická v Praze