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Persistent link: https://www.econbiz.de/10005590867
Hedge funds are collective investment vehicles, often organized as private partnerships and resident offshore for tax and regulatory purposes. Their legal status places few restrictions on their portfolios and transactions, leaving their managers free to use short sales, derivative securities,...
Persistent link: https://www.econbiz.de/10005590905
This study addresses major policy issues associated with the future of the international monetary system. It focuses on whether there is a need for fundamental reform of this system, defined as systematic and sustained effort on the part of the three major industrial countries (United States,...
Persistent link: https://www.econbiz.de/10005590963
Each episode of volatility in financial markets heightens the attention of government officials and others to the role played by the hedge fund industry in financial market dynamics. Hedge funds were implicated in the 1992 crises that led to major exchange rate realignments in the European...
Persistent link: https://www.econbiz.de/10005599135
In the context of a flexible-price monetary exchange rate model and the assumption of uncovered interest parity, we obtain a measure of the fundamental determinant of exchange rates. Daily data for the European Monetary System are used to explore the importance of nonlinearities in the...
Persistent link: https://www.econbiz.de/10005599202
Official controls on interest rates and capital flows rule out the use of traditional interest rate parity conditions to measure changes in the degree of capital mobility confronting developing countries. This paper develops an alternative technique for measuring the cost of undertaking...
Persistent link: https://www.econbiz.de/10005599460
Monetary policy has become increasingly important in the countries of the Commonwealth of Independent States (CIS) as fiscal adjustment and structural reforms have taken root. Inflation has been brought down to relatively low levels in almost all of these countries, raising the question of what...
Persistent link: https://www.econbiz.de/10014399676
Persistent link: https://www.econbiz.de/10003431630
Persistent link: https://www.econbiz.de/10000547330
In the context of a flexible-price monetary exchange rate model and the assumption of uncovered interest parity, we obtain a measure of the fundamental determinant of exchange rates. Daily data for the European Monetary System are used to explore the importance of nonlinearities in the...
Persistent link: https://www.econbiz.de/10014398732