Intervention, Exchange-rate Volatility, and the Stable Paretian Distribution PDF Download
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Author: Michael L. Bagshaw
Publisher:
ISBN:
Category : Distribution (Probability theory)
Languages : en
Pages : 44
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Book Description
Author: Michael L. Bagshaw
Publisher:
ISBN:
Category : Distribution (Probability theory)
Languages : en
Pages : 44
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Book Description
Author: Christian Pierdzioch
Publisher: Springer Science & Business Media
ISBN: 9783540427452
Category : Business & Economics
Languages : en
Pages : 232
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Book Description
A flexible instrument to insure against adverse exchange rate movements are options on foreign currency. Often a relatively simple foreign currency option valuation model is used to address issues related to the pricing and hedging of such options. The results of many empirical studies document that real-world foreign currency option premia deviate from those predicted by the baseline model. In the first part of the book, it is shown that a noise trader model can help to explain the observed mispricing of the baseline foreign currency option pricing model. In the second part of the book, it is studied how policymakers can exploit the pricing errors of the baseline model. In particular, it is examined how option pricing theory can be applied to assess the effectiveness of central bank interventions in the foreign exchange market. To this end, a model is constructed to analyze the effectiveness of the interventions conducted by the Deutsche Bundesbank during the Louvre period.
Author:
Publisher:
ISBN:
Category : Business
Languages : en
Pages : 356
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Author: Temple University,Philadelphia,Pennsylvania
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Author: R.W. Jones
Publisher: Elsevier
ISBN: 0080550371
Category : Business & Economics
Languages : en
Pages : 640
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Book Description
This Handbook adopts a traditional definition of the subject, and focuses primarily on the explanation of international transactions in goods, services, and assets, and on the main domestic effects of those transactions. The first volume deals with the "real side" of international economics. It is concerned with the explanation of trade and factor flows, with their main effects on goods and factor prices, on the allocation of resources and income distribution and on economic welfare, and also with the effects on national policies designed explicitly to influence trade and factor flows. In other words, it deals chiefly with microeconomic issues and methods. The second volume deals with the "monetary side" of the subject. It is concerned with the balance of payments adjustment process under fixed exchange rates, with exchange rate determination under flexible exchange rates, and with the domestic ramifications of these phenomena. Accordingly, it deals mainly with economic issues, although microeconomic methods are frequently utilized, especially in work on expectations, asset markets, and exchange rate behavior. For more information on the Handbooks in Economics series, please see our home page on http://www.elsevier.nl/locate/hes
Author:
Publisher:
ISBN:
Category : Canada
Languages : en
Pages : 1042
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Author:
Publisher:
ISBN:
Category : Ohio
Languages : en
Pages : 40
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Book Description
Author:
Publisher:
ISBN:
Category : Foreign exchange
Languages : en
Pages : 496
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Book Description
Author: Michael D. Bordo
Publisher: University of Chicago Press
ISBN: 022605151X
Category : Business & Economics
Languages : en
Pages : 453
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Book Description
During the twentieth century, foreign-exchange intervention was sometimes used in an attempt to solve the fundamental trilemma of international finance, which holds that countries cannot simultaneously pursue independent monetary policies, stabilize their exchange rates, and benefit from free cross-border financial flows. Drawing on a trove of previously confidential data, Strained Relations reveals the evolution of US policy regarding currency market intervention, and its interaction with monetary policy. The authors consider how foreign-exchange intervention was affected by changing economic and institutional circumstances—most notably the abandonment of the international gold standard—and how political and bureaucratic factors affected this aspect of public policy.
Author: James Grant Hoehn
Publisher:
ISBN:
Category : Monetary policy
Languages : en
Pages : 68
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Book Description
