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Discount Rates

Cochrane, John H. - 2011

, including portfolio theory, accounting, cost of capital, capital structure, compensation, and macroeconomics …

Persistent link: https://www.econbiz.de/10012461685

Macroeconomic implications of the beliefs and behavior of foreign exchange traders

Cheung, Yin-Wong (contributor); … - 1999 - [Elektronische Ressource]

Persistent link: https://www.econbiz.de/10001511630

Macroeconomic Implications of the Beliefs and Behavior of Foreign Exchange Traders

Cheung, Yin-Wong - 1999

We report findings from a survey of United States foreign exchange traders. Our results indicate that (i) technical trading best characterizes about 30% of traders, with this proportion rising from five years ago; (ii) news about macroeconomic variables is rapidly incorporated into exchange...

Persistent link: https://www.econbiz.de/10012471364

Order Flow and Exchange Rate Dynamics

Evans, Martin D.D. - 1999

Macroeconomic models of nominal exchange rates perform poorly. In sample, R2 statistics as high as 10 percent are rare. Out of sample, these models are typically out-forecast by a na‹ve random walk. This paper presents a model of a new kind. Instead of relying exclusively on macroeconomic...

Persistent link: https://www.econbiz.de/10012471467

Asset Markets, Exchange Rates and the Balance of Payments

Frenkel, Jacob A. - 1984

This paper, written as a chapter for a Handbook of International Economics, reviews developments in the theory of … of exchange rate theory, starting with the monetary approach to exchange rate determination. Issues discussed in this … framework that views the question of exchange rate determination as part of the general theory of the determination of asset …

Persistent link: https://www.econbiz.de/10012477808

The Forward Exchange Market, Speculation, and Exchange Market Intervention

Eaton, Jonathan - 1983

This paper develops a stochastic equilibrium model of an open economy incorporating speculation in the forward exchange market. The model is used to examine two issues. The first is the role of speculation in stabilizing the economy against stochastic disturbances. Much risk averse speculation...

Persistent link: https://www.econbiz.de/10012477963

Rational Expectations and the Foreign Exchange Market

Hartley, Peter R. - 1982

Many models of exchange rate determination imply that movements in money supplies and demands should result in movements in exchange rates. Hence, if rational agents are attempting to forecast exchange rate movements, they should in the first instance forecast movements in the supplies of and...

Persistent link: https://www.econbiz.de/10012478248

Profitability and Stability in International Currency Markets

Bilson, John F. O. - 1981

A number of recent empirical studies have rejected the hypothesis that forward exchange rates are unbiased forecasts of future spot exchange rates. This result implies that there have been opportunities for speculative profit during the post Bretton Woods period. Observers of the floating rate...

Persistent link: https://www.econbiz.de/10012478457

Balance of Payments and the Foreign Exchange Market : A Dynamic Partial Equilibrium Model

Kouri, Pentti J.K. - 1981

This paper develops a dynamic partial equilibrium model of the foreign exchange market extending the standard textbook model in two respects. First, capital account transactions are explicitly incorporated into the model, and secondly, 'rational' speculative behaviour is also introduced. At a...

Persistent link: https://www.econbiz.de/10012478477

Explanations of Exchange Rate Volatility and Other Empirical Regularities in Some Popular Models of the Foreign Exchange Market

Flood, Robert P. - 1981

The present paper is intended to accomplish two tasks. First, models predicting overshooting and magnification, respectively, will be checked for their consistency with two key empirical regularities: A. The observed pattern of price level vs. exchange-rate volatility. B. The observed pattern of...

Persistent link: https://www.econbiz.de/10012478498

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