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Testimony before the Subcommittee on TARP, Financial Services and Bailouts of Public and Private Programs, Committee on Oversight and Government Reform, U.S. House of Representatives.
Persistent link: https://www.econbiz.de/10010725013
cents per contract, or a cash equivalent of $35 per contract. ; In the Japanese yen futures pit, dual traders also obtain … their customers' trades, which does not happen in the Japanese yen futures. Finally, dual traders do not appear to be …
Persistent link: https://www.econbiz.de/10005420624
assumptions such as lognormality. ; I apply this technique to estimate the joint risk-neutral density of euro-dollar and yen-dollar … nonparametric marginals. The nonparametric euro-yen risk-neutral density has greater volatility, skewness, and kurtosis than the … density based on a lognormal dependence function. In a comparison of pricing accuracy for euro-yen futures options, I find …
Persistent link: https://www.econbiz.de/10005726643
account adjustment could occur through a sudden and disruptive depreciation of the dollar and a sharp drop in U.S. consumption … position reflects sizable capital gains stemming from strong foreign equity markets and a weaker dollar - conditions that could …
Persistent link: https://www.econbiz.de/10005420594
The pattern of international trade adjustment is affected by the continuing international role of the dollar and … related evidence on exchange rate pass-through to prices. This paper argues that a depreciation of the dollar would have … dollar depreciation on real trade flows is dominated by an adjustment in U.S. export quantities, which increase as U.S. goods …
Persistent link: https://www.econbiz.de/10005420633
depreciation of the dollar, as stressed in research by Obstfeld and Rogoff. We assess how the adjustment is affected by the high … not matched. In particular, a dollar depreciation generates valuation gains for the United States by boosting the dollar …. Intuitively, the valuation gains from the depreciation of the dollar allow the United States to finance ongoing, albeit shrinking …
Persistent link: https://www.econbiz.de/10005420652
Remarks at the ACI 2010 World Congress, Sydney, Australia.
Persistent link: https://www.econbiz.de/10010724944
Testimony before the Subcommittee on Domestic Monetary Policy and Technology, Committee on Financial Services, United States House of Representatives, Washington, D.C.
Persistent link: https://www.econbiz.de/10010725014
Remarks at the Center for the New Economy 2010 Economic Conference, San Juan, Puerto Rico.
Persistent link: https://www.econbiz.de/10010725042
Persistent link: https://www.econbiz.de/10005717188