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The damage from clean floats: From an anti-inflationary monetary policy
Pope, Robin; Selten, Reinhard; Kaiser, Johannes; Kube, … - 2007
laboratory experiment. The laboratory experiment avoids measurement errors to which econometric estimation is subject concerning … assumptions of temporal independence and false synchronicity in decision response lags to stimuli. Our laboratory experiment also …
Persistent link: https://www.econbiz.de/10010274161
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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; von … - 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/10010274186
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Nominalist Heuristics and Economic Theory
Pope, Robin; Selten, Reinhard; Kube, Sebastian - 2009
This paper introduces a new theoretic entity, a nominalist heuristic, defined as a focus on prominent numbers, indices or ratios. Abstractions used in the evaluation stage of decision making typically involve nominalist heuristics that are incompatible with expected utility theory which excludes...
Persistent link: https://www.econbiz.de/10010270023
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The damage from clean floats : from an anti-inflationary monetary policy
Pope, Robin; Selten, Reinhard; Kaiser, Johannes; Kube, … - 2007
experiment. The laboratory experiment avoids measurement errors towhich econometric estimation is subject concerning omitted or … independenceand false synchronicity in decision response lags to stimuli. Our laboratory experiment also embeds a newtheory of … ; IMF ; exchange rate regime ; exchange rate volatility ; experiment ; SKAT the Stages of Knowledge Ahead Theory ; monetary …
Persistent link: https://www.econbiz.de/10003612866
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Beggar Thy Neighbour: Exchange Rate Regime Misadvice from Misunderstandings of Mundell (1961)
Pope, Robin - 2007
Economists invoke Mundell (1961) in arguing for the general policy of a flexible exchange rate regime as a means of restoring equilibria after shocks. But there is a discrepancy between the intent of the general policy and attempts at its implementation as identified by specific changes in...
Persistent link: https://www.econbiz.de/10010263183
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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
. -- nominalism ; money illusion ; heuristic ; unpredictability ; experiment ; SKAT the Stages of Knowledge Ahead Theory ; prominent …
Persistent link: https://www.econbiz.de/10003867227
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Nominalist heuristics and economic theory
Pope, Robin; Selten, Reinhard; Kube, Sebastian - 2009
exchange rate determination. -- nominalism ; money illusion ; heuristic ; unpredictability ; experiment ; SKAT the Stages of …
Persistent link: https://www.econbiz.de/10003867222
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Export and benefits of hedging in emerging economies
Broll, Udo; Wahl, Jack E.; Wessel, Christoph - 2009
We study the impact of exchange rate risk upon export production within an emerging economy lacking in currency forward markets. However there exists a financial asset whose price is correlated with the relevant foreign currency. We present conditions under which export production is stimulated...
Persistent link: https://www.econbiz.de/10003867523
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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
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Export and Benefits of Hedging in Emerging Economies
Broll, Udo - 2010
We study the impact of exchange rate risk upon export production within an emerging economy lacking in currency forward markets. However there exists a financial asset whose price is correlated with the relevant foreign currency. We present conditions under which export production is stimulated...
Persistent link: https://www.econbiz.de/10013147872