The Behavior of Foreign Exchange Markets: A Critical Survey of the Empirical LiteratureNew York University, Graduate School of Business Administration, Salomon Brothers Center for the Study of Financial Institutions, 1978 - Foreign exchange - 54 pages |
From inside the book
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Page 14
... Canadian dollar . Haas [ 1974a ] derives a different estimating equation from the same model and includes estimates from the 1970– 1973 Canadian dollar float . They both find that speculative forces are much more powerful than those ...
... Canadian dollar . Haas [ 1974a ] derives a different estimating equation from the same model and includes estimates from the 1970– 1973 Canadian dollar float . They both find that speculative forces are much more powerful than those ...
Page 38
... Canadian dollar was subject to stabilizing speculation that prevented unnecessary seasonal , daily , or capital flow ... dollar markets ) . Similarly , Arndt [ 1968 ] uses a distributed lag model to show that expectations in the Canadian ...
... Canadian dollar was subject to stabilizing speculation that prevented unnecessary seasonal , daily , or capital flow ... dollar markets ) . Similarly , Arndt [ 1968 ] uses a distributed lag model to show that expectations in the Canadian ...
Page 50
... Canadian Forward Exchange Markets : Some Estimates Assuming Rational ... Dollar , 1952-1960 , " Econometrica , September , pp . 797-815 . Poole ... Canadian Flexible Exchange Rate , 1950-1962 , " Canadian Journal of Economics and ...
... Canadian Forward Exchange Markets : Some Estimates Assuming Rational ... Dollar , 1952-1960 , " Econometrica , September , pp . 797-815 . Poole ... Canadian Flexible Exchange Rate , 1950-1962 , " Canadian Journal of Economics and ...
Common terms and phrases
Aliber Artus assets Bank biased Canadian dollar Canterbery coefficients concludes covered interest arbitrage covered interest differential covered margin indicator destabilizing speculation Deutschemark deviations from interest deviations from PPP distributed lag dummy variables econometric efficient markets efficient markets hypothesis empirical endogenous equilibrium estimates evidence of destabilizing exchange rate changes exchange rate expectations exogenous expectations function expected future spot explained explanatory variables finds Fisherian Flexible Exchange Rates flexible rate floating exchange rates foreign exchange markets forward exchange rate forward market forward premium forward rate French franc Frenkel and Levich future spot rate Grubel hedging identify imply interest arbitrage interest parity Journal Kohlhagen 1977b market efficiency mimeo monetary policy official demand official intervention paper Pippenger price changes profits proxy random walk hypothesis regression relative prices significant simultaneity bias specification speculative period spot and forward stabilizing Stein studies subsequent spot rate techniques tests theoretical Theory tion transaction costs unstable volatility