with other dealers. Some have linked this volume to concerns of excessive volatility in the market. Tobin's proposal to … address this volatility with a small tax on all foreign exchange transactions has not received the serious attention it … volatility than most economists believe. Calculations show that the tax, unlike some forms of capital control, would fall far …

Market participants' forecasts of future exchange rate volatility can be recovered from option contracts on foreign … currencies. Such implicit volatility forecasts for four currencies are used to test rational expectations jointly with the … version of market rationality: the market can correctly forecast the direction of the change in exchange rate volatility. This …

The optimal-diversification model of investors' portfolio behavior can give a linear relationship between the exchange …

world commodity prices, volatility, crowding out of manufacturing, civil war, poor institutions, and the Dutch Disease. The … export proceeds, denomination of debt in terms of oil, Chile-style fiscal rules, a monetary target that emphasizes product …

Volatility tests are an alternative to regression tests for evaluating the joint null hypothesis of market efficiency … taken to be. By considering tests based on conditional volatility bounds, we show that if the alternative is that one could … conditional volatility tests.If the application is to spot and forward markets, then the most powerful conditional volatility test …

characterized as reflecting the carry trade. It focuses on speculative factors, here defined as the trade-off between interest rates …