Developing Asia experienced a sharp surge in foreign currency reserves prior to the 2008-9 crisis. The global crisis …

currency, on average, reduce the spread while intervention sales, on average, increase the spread. We also show that … consistent with the notion that illiquidity arises when traders fear speculative pressure against the smaller currency and …

We document stylized facts about China's recent exchange rate policy for its currency, the renminbi (RMB). Our …

The effect of the single currency on the Purchasing Power Parity (PPP) hypothesis is examined in this study for the 15 … the introduction of the single currency. Panel unit root (Pesaran, 2007) and stationarity tests (Hadri and Kurozumi, 2008 … the introduction of the single currency. …

flexible approach to modeling currency returns. We decompose the currency returns into multiplicative sign and absolute return … components, which exhibit much greater predictability than raw returns. We allow the two components to respond to currency …-adjusted) profitability when trading individual currencies or forming currency portfolios based on the predicted returns from the …

find that carry trading increases currency-crash risk in that order flow generates negative skewness in FX returns. …

affected by disputes with China, and is different from the diffusion behaviours of the offshore US dollar, euro, British pound …