Given that it is costly, the widespread use of foreign exchange hedging is puzzling for several reasons. In an efficient market exchange rate fluctuations should even out over time. Also, exchange rate risk is generally regarded as unsystematic, and even if it is systematic investors can...

Over the last 20 years, research has confirmed and reconfirmed the benefits of international diversification. [See Madura (1984) for a review of this research.] However, changes in international stock market and foreign exchange market behavior require that some issues be reassessed. First, how...

This paper derives a model for analyzing the net present value of a change in credit policy, in the presence of exchange rate uncertainty, tax differentials, and potential limitations on raptratiation of profits. When our model is compared to the standard model used in the domestic environment,...

How investors can capitalise on a long‐term currency trend by leveraging their investment in a mutual fund is investigated. The sensitivity of mutual fund yields to exchange rate movements and the degree of leverage is tested for a strong dollar cycle (1981‐1984) as well as for a weak dollar...

Abstract Health impact simulation models are used to predict how a proposed policy or scenario will affect population health outcomes. These models represent the typically-complex systems that describe how the scenarios affect exposures to risk factors for disease or injury (e.g. air pollution...

An introduction to performance assessment -- Designing the assessment -- Construction of performance assessment tasks : elements of task construction -- Construction of performance assessment tasks : an example -- Administration -- Developing tools for scoring -- Training raters and staff --...