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which bubbles and crashes occur at unpredictable moments. We contrast these ʺbehaviouralʺ bubbles with ʺrationalʺ bubbles. …
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The paper presents new empirical results that elucidate the dynamics of the foreign exchange market. The first half of the paper is an updated study of the exchange rate expectations held by market participants, as reflected in responses to surveys, and contains the following conclusions. First,...
Persistent link: https://www.econbiz.de/10012763525
which bubbles and crashes occur at unpredictable moments. We contrast these "behavioural" bubbles with "rational" bubbles …
Persistent link: https://www.econbiz.de/10013318629
The paper presents new empirical results that elucidate the dynamics of the foreign exchange market. The first half of the paper is an updated study of the exchange rate expectations held by market participants, as reflected in responses to surveys, and contains the following conclusions. First,...
Persistent link: https://www.econbiz.de/10012475557
Persistent link: https://www.econbiz.de/10013424881
This paper develops a new model for studying foreign currency exchange rate bubbles. The model constructed is a … insights into our understanding of exchange rate bubbles and it can be utilized empirically to test for their existence. The … new insights are: (i) exchange rate bubbles can be negative, in contrast to asset price bubbles, (ii) exchange rate …
Persistent link: https://www.econbiz.de/10013141966