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predict exchange rates and to advocate floating exchange rates, economists unwittingly employ nominalist heuristics. Second …, nominalist heuristics have influenced actual exchange rates through the centuries, and this finding is replicated in the … laboratory. Third, nominalist heuristics are incompatible with expected utility theory which excludes the evaluation stage, and …
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This paper's field evidence is: (1) many official sectors rapidly forget the damage of the 1982-85 exchange rate liquidity crisis and reverted to what caused that crisis, namely a closed economy clean floats perspective; and (2) the 2006-2008/9 exchange rate liquidity shock would have been more...
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In der Welt finden kontinuierlich Veränderungen sowohl im wirtschaftlichen als auch politischen Bereich statt. Mit dem Wandel der Märkte müssen Unternehmen die Wahl der Unternehmens-grenzen neu überdenken. Dieses Buch konzentriert sich auf die Frage, unter welchen Bedin-gungen auf...
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