Author: Mark P. TaylorPublisher:
ISBN: 9780903312875
Category : Foreign exchange
Languages : en
Pages : 19
Book Description
Expectations, Risk and Uncertainty in the Foreign Exchange Market
Author: Mark P. TaylorPublisher:
ISBN: 9780903312875
Category : Foreign exchange
Languages : en
Pages : 19
Book Description
Expectations and the Foreign Exchange Market
Author: Craig HakkioPublisher: Routledge
ISBN: 1351801686
Category : Business & Economics
Languages : en
Pages : 100
Book Description
Originally published in 1984. This book examines two important dimensions of efficiency in the foreign exchange market using econometric techniques. It responds to the macroeconomics trend to re-examining the theories of exchange rate determination following the erratic behaviour of exchange rates in the late 1970s. In particular the text looks at the relation between spot and forward exchange rates and the term structure of the forward premium, both of which require a joint test of market efficiency and the equilibrium model. Approaches used are the regression of spot rates on lagged forward rates and an explicit time series analysis of the spot and forward rates, using data from Canada, the United Kingdom, the Netherlands, Switzerland and Germany.
The Effects of Uncertainty and Incomplete Information in a Foreign Exchange Market Subject to Noisy Rational Expectations
Author: Edgar J. WilsonPublisher:
ISBN: 9780855906009
Category : Demand for money
Languages : en
Pages : 32
Book Description
Uncertainty and Expectation
Author: Gerald AshleyPublisher: John Wiley & Sons
ISBN: 0470864702
Category : Business & Economics
Languages : en
Pages : 188
Book Description
In this entertaining and thoughtful book, Gerald Ashley sets out to explain what trading is, and lays out a modus operandi for being a trader and investor. He draws upon market anecdotes and examples from the past, seeking to debunk many myths surrounding financial markets, and to try and make the reader understand the real processes, risks and rewards that drive investment. In particular he examines ideas in market and individual investor behaviour, and questions the usefulness of many of todays standard investment techniques including benchmarks, charts, analysts and 'gurus'. He also lays out simple precepts for understanding investment risk and suggests ideas for managing your investments in today's markets.
The Psychology of the Foreign Exchange Market
Author: Thomas OberlechnerPublisher: John Wiley & Sons
ISBN: 0470012013
Category : Business & Economics
Languages : en
Pages : 278
Book Description
This book demystifies the foreign exchange market by focusing on the people who comprise it. Drawing on the expertise of the very professionals whose decisions help shape the market, Thomas Oberlechner describes the highly interdependent relationship between financial decision makers and news providers, showing that the assumption that the foreign exchange market is purely economic and rational has to be replaced by a more complex market psychology.
Managing Foreign Exchange Risk
Author: Richard J. HerringPublisher: Cambridge University Press
ISBN: 9780521311205
Category : Business & Economics
Languages : en
Pages : 254
Book Description
A collection of essays about foreign exchange risk and how to cope with it.
Corporate Foreign Exchange Risk Management
Author: Lars OxelheimPublisher: John Wiley & Sons
ISBN: 1119598869
Category : Business & Economics
Languages : en
Pages : 232
Book Description
A practical and accessible guide that demystifies ForEx risk for managers in all areas of business Virtually any organisation active in the global economy is impacted by fluctuations in foreign exchange (FX or ForEx) markets. Managers need to understand this increasingly complex issue and measure their firm’s exposure to risk. Corporate Foreign Exchange Risk Management is an in-depth yet accessible guide on effective ForEx exposure management. Designed for professionals responsible for managing a profit & loss or balance sheet influenced by ForEx fluctuations, it enables risk managers to navigate the interconnected worlds of financial management and economics. This innovative guide integrates academic discussion of the economics of risk management decisions and pragmatic advice for various situations in which performance measures affected by accounting standards are paid considerable attention. Readers are provided with the tools and knowledge required to handle a broad range of issues related to ForEx risk management. Clear, non-technical chapters demystify concepts that often appear complicated and confusing to managers. Written by globally-recognised experts in corporate finance, risk management and international business, this book: Employs a reader-friendly narrative style to explain complex concepts Provides a clear, actionable risk management strategy which can be used in a variety of businesses Places all concepts in relatable, real-world contexts Explains important academic research to practitioners in plain English Includes effective pedagogical tools and explanations, straightforward examples and end-of-chapter summaries which highlight key points Corporate Foreign Exchange Risk Management is a must-read for any manager who deals with corporate exposure to ForEx risk, as well as analysts wishing to better understand the relation between corporate performance and ForEx fluctuations and students of corporate risk management.
The Role of Endogenous Uncertainty in Foreign Exchange Markets
Author: Stanley W. BlackProfits, Risk and Uncertainty in Foreign Exchange Markets
Author: Fabio CanovaForeign Exchange Intervention Rules for Central Banks: A Risk-based Framework
Author: Romain LafarguettePublisher: International Monetary Fund
ISBN: 1513569406
Category : Business & Economics
Languages : en
Pages : 33
Book Description
This paper presents a rule for foreign exchange interventions (FXI), designed to preserve financial stability in floating exchange rate arrangements. The FXI rule addresses a market failure: the absence of hedging solution for tail exchange rate risk in the market (i.e. high volatility). Market impairment or overshoot of exchange rate between two equilibria could generate high volatility and threaten financial stability due to unhedged exposure to exchange rate risk in the economy. The rule uses the concept of Value at Risk (VaR) to define FXI triggers. While it provides to the market a hedge against tail risk, the rule allows the exchange rate to smoothly adjust to new equilibria. In addition, the rule is budget neutral over the medium term, encourages a prudent risk management in the market, and is more resilient to speculative attacks than other rules, such as fixed-volatility rules. The empirical methodology is backtested on Banco Mexico’s FXIs data between 2008 and 2016.