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Speculation in the Foreign Exchange : Noise or Information?

Hayward, Rob - 2015

An event study is used to assess the views of Keynes and Friedman on speculation. Speculative extremes are ranked by intensity of sentiment and weight of speculative activity. A unique dataset of risk-reversal skew on option prices is used to measure the intensity of speculative sentiment; the...

Persistent link: https://www.econbiz.de/10013019272

Imperfect Knowledge and Behavior in the Foreign Exchange Market

Goldberg, M.D.; Frydman, R. - C.V. Starr Center for Applied Economics, Department of … - 1995

Persistent link: https://www.econbiz.de/10005826927

Prominent numbers, indices and ratios in exchange rate determination and financial crashes : in Economists' models, in the field and in the laboratory

Pope, Robin; Selten, Reinhard; Kube, Sebastian; Hagen, … - 2009

The prior paper in this sequel, Pope (2009) introduced the concept of a nominalist heuristic, defined as a focus on prominent numbers, indices or ratios. In this paper the concept is used to show three things in how scientists and practitioners analyse and evaluate to decide (conclude). First,...

Persistent link: https://www.econbiz.de/10003867227

Ambiguity Aversion : Implications for the Uncovered Interest Rate Parity Puzzle

Ilut, Cosmin L. - 2010

High-interest-rate currencies tend to appreciate in the future relative to low-interest-rate currencies instead of depreciating as uncovered-interest-parity (UIP) predicts. I construct a model of exchange-rate determination in which ambiguity-averse agents face a dynamic filtering problem...

Persistent link: https://www.econbiz.de/10013143360

The New Economy and the Dollar Puzzle

Karunaratne, Neil Dias - 2012

The revolutionary changes in information technology (IT), globalization and financial innovation have overturned the … and the use of the information superhighway rank Australia next to USA as a NE. Australia is an avid user but not a … and empirical grounds. The IT technology, because it is subject to severe diminishing returns and problems of information …

Persistent link: https://www.econbiz.de/10013104440

Managed floats to damp world-wide exchange rate liquidity shocks like 1982-5, 2006-9 : field and laboratory evidence for the benefits of a single world Ccrrency

Pope, Robin; Selten, Reinhard - In: The open economics journal 4 (2011), pp. 1-38

This paper's field evidence is: (1) in reality a major exchange rate change devastates an economy, i.e. the widespread academic faith that exchange rate changes are either beneficial or harmless is a false faith that contributes to needless world-wide economic havoc; (2) the 1982-85 exchange rate...

Persistent link: https://www.econbiz.de/10009541016

Cross-category, trans-Pacific spillovers of policy uncertainty and financial market volatility

Thiem, Christopher - 2018

Mit Hilfe von generalisierten Varianzdekompositionen aus Vektorautoregressionen untersuchen wir länder- und kategorieübergreifende Unsicherheits-Spillover-Effekte zwischen den USA und Japan. Dabei betrachten wir sowohl wirtschaftspolitische Unsicherheit (WPU) als auch Finanzmarktvolatilität....

Persistent link: https://www.econbiz.de/10011954058

Impact evaluation of structural adjustment program: a case of Pakistan

Khan, Rana Ejaz Ali; Nawaz, Muhammad Atif; Hussain, Altaf - Volkswirtschaftliche Fakultät, … - 2011

We analyzed the effect of Structural Adjustment Program (SAP) on macroeconomic variables of Pakistan using annual time series data for the years 1981-2001. The impact of four policy instruments of SAP, i.e. reduction in budget deficit, increase in indirect taxes,adjusting the exchange rate and...

Persistent link: https://www.econbiz.de/10009372518

Crises in the foreign exchange markets and the reputation of monetary authorities

Bassetto, Marco; Hamaui, Rony - 1993

Persistent link: https://www.econbiz.de/10000888897

Three essays on small open economies

Adler, Oliver D. - 1990

Persistent link: https://www.econbiz.de/10000880746

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