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 |
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Page 28
... rate in a period of highly unstable international monetary events as compared to a relatively stable interna- tional monetary period ( rather than concluding anything about fixed versus flexible rates per se ) . In addition , Aliber ...
... rate in a period of highly unstable international monetary events as compared to a relatively stable interna- tional monetary period ( rather than concluding anything about fixed versus flexible rates per se ) . In addition , Aliber ...
Page 46
... Exchange Rate , " mimeo , IMF and NYU . Black , Stanley , W. , 1972a , " International Monetary Markets and Flexible Exchange Rates , " Board of Governors of the Federal Reserve System , Staff Economic Studies , No. 70 . 9 1972b , " The ...
... Exchange Rate , " mimeo , IMF and NYU . Black , Stanley , W. , 1972a , " International Monetary Markets and Flexible Exchange Rates , " Board of Governors of the Federal Reserve System , Staff Economic Studies , No. 70 . 9 1972b , " The ...
Page 50
... Exchange Markets : Some Estimates Assuming Rational Expectations , ” Review of Economics and Statistics , May , pp . 145-151 . McCormick , Frank , 1975 , “ Transaction Costs in the Foreign Exchange Market Under Fixed and Floating Exchange ...
... Exchange Markets : Some Estimates Assuming Rational Expectations , ” Review of Economics and Statistics , May , pp . 145-151 . McCormick , Frank , 1975 , “ Transaction Costs in the Foreign Exchange Market Under Fixed and Floating Exchange ...
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