We study financial fragility, exchange rate crises, and monetary policy in an open economy version of a Diamond-Dybvig model. The banking system, the exchange rate regime, and central bank credit policy are seen as parts of a mechanism intended to maximize social welfare; if the mechanism fails,...

Extant models of exchange rate behavior have typically relied on statistical rather than economic considerations. The approach has been to employ a variant of the generalized central limit theorem to develop tests for the models proposed. ; We propose a minimal set of simple economic...

Pegging the renminbi (RMB) to the US dollar since 1994 has characterised China’s exchange rate policy, under either a fixed peg or appreciating crawling peg. The current policy, announced in June 2010, of ‘floating with reference to a basket’ has now in April 2015 made the RMB 19 per cent...

The markets for foreign exchange, energy and residential housing have all been strongly affected by the deregulation and expansion of the financial sector. As a result, they have begun to follow the logic of asset markets. This was especially marked in the case of the foreign exchange market...

This study aims to investigate whether the phenomena found by Shnoll et al. when applying histogrampattern analysis techniques to stochastic processes from chemistry and physics are also present infinancial time series, particularly exchange rate and index data. The phenomena are related to...

xii, 132 p. : ill. A print copy of this thesis is available through the UO Libraries. Search the library catalog for the location and call number.

The main goal of this research is to investigate whether foreign exchange transacting costs are an impediment to intra-regional trading within the Southern African Development Community SADC region. The research question posed has been whether foreign exchange trading costs affect the amount of...

Exchange rate fluctuations are believed to affect the value of construction companies with foreign sales and/or operations for various economic reasons. The purpose of this research was to determine the relationship between both the Rand/US Dollar and Rand/Euro exchange rates, and the value of...

This thesis examines the impact of exchange rate risk on asset pricing under varying market structures. To understand this effect, in the first part of the thesis the analytical derivation of an international asset-pricing model within a mean-variance framework is attempted. In the second part,...

The way a country manages its currency can affect its volume of trade, capital flows and income. A country, especially one with high degree of trade openness, needs to find the most suitable exchange rate arrangement to reduce the volatility of its currency value and output. This thesis examines...