Suppose we take a forward rate f with p the zero-coupon
Suppose we take a forward rate f with P the zero-coupon bond with the same payoff time, and use f P as numeraire. What is the drift off? Why is it valid to use f P as numeraire?
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suppose we take a forward rate f with p the zero-coupon bond with the same payoff time and use f p as numeraire what is
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