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Persistence in the Variability of Daily Exchange Rates
Tsibouris, George C. - 1991
Rational speculation in foreign exchange trading is often assumed to dampen exchange rate fluctuations by bringing the market back to fundamentals. Nevertheless, information congestion provides incentives for traders to follow positive feedback strategies which result in persistent and volatile...
Persistent link: https://www.econbiz.de/10014398036
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Rational expectations and the foreign exchange market
Hartley, Peter Reginald - 1982
Persistent link: https://www.econbiz.de/10000041308
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Exchange rate puzzles : a tale of switching attractors
De Grauwe, Paul; Grimaldi, Marianna - 2004
The rational expectations efficient market model of the exchange rate has failed empirically. In this paper we develop a model of the exchange rate in which agents use simple forecasting rules. Based on an ex post evaluation of the relative profitability of these rules they decide whether to...
Persistent link: https://www.econbiz.de/10011583140
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Persistence in the variability of daily exchange rates
Tsibouris, George C. - 1991
Persistent link: https://www.econbiz.de/10000135400
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Learning in speculative bubbles : an experiment
Hong, Jieying; Moinas, Sophie; Pouget, Sébastien - 2018
Persistent link: https://www.econbiz.de/10012267511
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Speculative equilibrium with differences in higher-order beliefs
Han, Jungsuk; Kyle, Albert S. - In: Management science : journal of the Institute for … 64 (2018) 9, pp. 4317-4332
Persistent link: https://www.econbiz.de/10011921524
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On the existence and prevention of speculative bubbles
Enders, Zeno; Hakenes, Hendrik - 2014
We develop a parsimonious model of bubbles based on the assumption of imprecisely known market depth. In a speculative … possibility of bubbles depending on the risk-free rate, uncertainty about market depth, and traders’ degree of leverage. This … allows us to discuss several policy measures. Bubbles always reduce aggregate welfare. Among others, certain monetary policy …
Persistent link: https://www.econbiz.de/10010393456
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Market efficiency and crises : don't throw the baby out with the bathwater
Szafarz, Ariane - 2015
Persistent link: https://www.econbiz.de/10011714021
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Expectations formation and risk in four foreign exchange markets
MacDonald, Ronald - In: Oxford economic papers 42 (1990) 3, pp. 544-561
Persistent link: https://www.econbiz.de/10001093208