Ex-post intraday market-risk extrema are compared with ex-ante standard RiskMetrics parametric Value-at-Risk (VaR) limits for three foreign currency futures markets (British Pound, Japanese Yen, Swiss Frank) to determine whether forecasted volatility of market returns based on settlement price...

Japan is currently suffering its third economic downturn of the past decade. While Japan suffers from a variety of structural problems, the most acute is the crushing burden carried by the banks. They still suffer under the weight of thousands of billions of yen of bad loans resulting from the...