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The behavioral economics of foreign exchange markets - a psychological view on human expectation formation in foreign exchange markets
Schmidt, Robert - 2004
explaining exchange rate movements. The asset market theory of exchange rate determination implies that exchange rates are mainly … driven by the development of macroeconomic fundamentals. Furthermore the asset market theory assumes that foreign exchange … speculation, economic theory states that speculation can have either a stabilizing effect or a destabilizing effect on exchange …
Persistent link: https://www.econbiz.de/10009433679
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Foreign Exchange Market Interventions: New Empirical Views of Emerging Markets
Brause, Alexander F. - 2010
Ergebnisse dieser Studien führten in den letzten Jahren zu der weitverbreiteten Meinung, dass Interventionen am Devisenmarkt kein … über Notenbankinterventionen am Devisenmarkt näher zu bringen und neue Aspekte in Bezug auf Emerging Markets zu diskutieren …. Der Kernpunkt befasst sich mit der Frage, warum Notenbanken in Emerging Markets am Devisenmarkt intervenieren und ob diese …
Persistent link: https://www.econbiz.de/10009433706
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Wechselkursspekulation in Währungsbändern
Schallenberger, Frank - 2002
-WOODS - 3. THEORIE DER ZIELZONEN - 4. WECHSELKURSSPEKULATION IM KRUGMAN-MODELL - 5. WECHSELKURSSPEKULATION IN ZIELZONEN ALS … analysed:1. INTRODUCTION - 2. THE DISCUSSION ABOUT TARGET ZONES IN THE POST BRETTON WOODS ERA - 3. TARGET ZONE THEORY - 4 …
Persistent link: https://www.econbiz.de/10009471730
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Regulierung internationaler Finanzmärkte durch Transaktionssteuern : die Wirkung einer Tobin-Steuer auf Handelsvolumen und Wechselkursvolatilität
Haberer, Markus - 2006
Untersuchungsziel dieser finanzwissenschaftlichen Arbeit ist die Wirkung einer Tobin-Steuer als spezielle Transaktionssteuer auf das Devisen-Handelsvolumen und die Wechselkursvolatilität. Ausgangspunkt bildet das mikroökonomische Investitionsverhalten der Marktteilnehmer, das wir mit Hilfe von...
Persistent link: https://www.econbiz.de/10009471738
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Two essays on general equilibrium foundation of finance
Siwik, Thomas - 2002
The thesis consists of two essays: "The CAPM -- A General Equilibrium Foundation" and "The Foreign Exchange Rate in Financial Markets".The Capital Asset Pricing Model (CAPM) is one of the most successful models for portfolio selection. The utility functions are assumed to depend positively on...
Persistent link: https://www.econbiz.de/10009452580
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Does Foreign Exchange Reserve Decumulation Lead to Currency Appreciation?
Dominguez, Kathryn M. E.; Fatum, Rasmus; Vacek, Pavel - 2010
Many developing countries have increased their foreign reserve stocks dramatically in recent years, in large part motivated by the desire for precautionary self-insurance. One of the negative consequences of large accumulations for these countries is the risk of valuation losses. In this paper...
Persistent link: https://www.econbiz.de/10009476924
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Diversification of Foreign Exchange Reserves in Newly Industrialized Countries
Hsu, Ker-Tah - 2001
The main purpose of this dissertation is to solve the following question: How will the emergence of the Euro influence the currency composition of the NICs?monetary reserves? Taiwan and Thailand are chosen as our investigation subjects. There are two sorts of motives for central banks' reserve...
Persistent link: https://www.econbiz.de/10009481267
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A comprehensive approach for currency crises theories stressing the role of the anchor country
Ganz, Verena - 2008
unvermeidlich in einer Währungskrise. Die Theorie bezieht sich demnach klar auf das externe Gleichgewicht am Devisenmarkt …: der Realzins des Ankerlandes, der reale effektive Wechselkurs und eine Risikoprämie.Mit diesem Theorie … imbalance inevitably results in a currency crisis. Altogether, this theory argues with a disrupted external balance on the …
Persistent link: https://www.econbiz.de/10009433694
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Econometric model for Intraday Trading on the Spot Foreign Exchange Market, Considering Heavy Tails and Volatility Clustering
Serbinenko Anna - 2009
The research analyzes aspects of the spot forex intraday trading and the existing models based on macro fundamentals or describing market microstructure. Most of analysis is done on high frequency data, over an extensive period and on 70 currency pairs. A hybrid model based on microstructure...
Persistent link: https://www.econbiz.de/10009434490
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Modeling dependency: application to currency
Aw, Ee Ling Grace - 2011
The primary purpose of this dissertation is to investigate the behavior of the elements of the foreign exchange market, the largest financial market in the world. Whilst the market itself is not new, the concept of currency as an alternative asset, is. Apart from growing awareness of the...
Persistent link: https://www.econbiz.de/10009434892