The coordination channel has been proposed as a means by which foreign exchange market intervention may be effective, in addition to the traditional portfolio balance and signaling channels. If strong and persistent misalignments of the exchange rate are caused by non-fundamental influences,...

Rezension: Dieses Standardlehrbuch (Vorauflage in ID-G 39/08) der beiden angloamerikanischen Wirtschaftswissenschaftler wurde von A. Wagner und M. Herrmann, beide Universität Leipzig, sorgfältig übersetzt und bearbeitet. Es ist umfassend, sehr gut verständlich und enthält neben vielen...

Though unambiguously outperforming all other ¯nancial markets in terms of liquidity,foreign exchange trading is still performed in opaque and decentralized markets. In par-ticular, the two-tier market structure consisting of a customer segment and an interdealersegment to which only market...