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Following the campus guidelines for Coronavirus all UC Davis classes, lectures, seminars, labs and discussion sections will move to virtual instruction and remain virtual through the end of Summer Session 2021, including final exams. Given this, the department’s administrative functions have moved to remote work conditions. To contact staff members of the department via e-mail or phone, please go to our administrative staff contact page.  We anticipate a return to campus for Fall 2021.

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Oscar Jorda and Alan Taylor: The carry trade can be profitable (The Economist)

Research by Oscar Jorda and Alan Taylor is the featured research in the Economics Focus section of the December 10 issue of the Economist Magazine; see Economist article. The original research paper on “The Carry Trade and Fundamentals: Nothing to Fear But FEER Itself” suggests a way to make a steady profit in the carry trade where investors borrow low-yielding currencies and lend (invest in) high-yielding currencies. This trade is big - around $1 trillion was estimated to be in the yen carry trade in 2007.