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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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Exchange Rate Volatility and Regime Change:Visegrad Comparison
Kocenda, Evžen; Valachy, Juraj - 2006
We analyze exchange rate volatility in the Visegrad Four countries in the course of their abandoning tight regimes for more flexible ones. We account for path dependence, asymmetric shocks, movements in interest rates, and allow for generalized error distribution. The overall findings are that...
Persistent link: https://www.econbiz.de/10009476919
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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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Two essays on general equilibrium foundation of finance
Siwik, Thomas - 2002
portfolio returns. Non-monotonicity can even lead to equilibrium prices permitting simple arbitrage opportunities.In the two … interest parity can generally not be regarded as a no-arbitrage condition and can be considered as an equilibrium condition … only non-generically. The true arbitrage-free correlation between the exchange rate, interest rates, and security prices is …
Persistent link: https://www.econbiz.de/10009452580
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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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Contributions to Intertemporal Models in Financial Economics
Gopalan, Ramu - 2008
portfolio restrictions, there is a need to differentiate individual arbitrage opportunities from those at the aggregate level …), this difference in the notion of arbitrage at the individual level and the aggregate level is characterized. Extending the … 2-date result of Hens et al., we show that generically there will be some arbitrage opportunities that remain …
Persistent link: https://www.econbiz.de/10009430929
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Financial Economies With Restricted Participation
Aouani, Zaier - 2009
with restricted participation. We then provide a characterization of reduced financial structures in terms of arbitrage …
Persistent link: https://www.econbiz.de/10009430939
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Effectiveness of Central Bank Independence via its Internal Characteristics
Griffin, Carroll H. - 2011
This study examines central bank independence in developing countries of Latin America and Asia as well as selected developed countries. Many countries around the world, both developed and developing, have accepted the idea of central bank independence over the last several decades, so central...
Persistent link: https://www.econbiz.de/10009441677
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How Has the European Monetary Integration Process Contributed to Regional Financial Market Integration?
Reszat, Beate - 2003
European monetary integration was one element in the process of financial market integration but by far not the only one. The paper traces the development of financial markets and systems in Europe from the beginnings of the euromarkets in the 1950s over early exchange rate arrangements and the...
Persistent link: https://www.econbiz.de/10009442383
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Three Essays on International Finance and International Capital Markets.
Zhu, Qiaoqiao - 2009
This dissertation consists of three essays examining informational and behavioral frictions in international financial and capital markets. Chapter II investigates whether characteristics of the home country capital market environment, such as information disclosure and investor rights...
Persistent link: https://www.econbiz.de/10009477002