Recent years have seen a substantial increase in the volatility of exchange rates. This trend has prompted economists and finance analysts to question if the observed behaviour of exchange rates is consistent with a rational model. Does that volatility hinder trade? What are financial markets'...

Ausführliche Beschreibung

Bibliographische Detailangaben

1. Verfasser:	Sercu, Piet (VerfasserIn)
Format:	Elektronisch E-Book
Sprache:	English
Veröffentlicht:	Cambridge Cambridge University Press 2000
Schriftenreihe:	Japan-U.S. Center UFJ Bank monographs on international financial markets
Schlagworte:	Mathematisches Modell Foreign exchange rates / Mathematical models Wechselkurs Volatilität Allgemeines Gleichgewichtsmodell
Online-Zugang:	BSB01 UBG01 URL des Erstveröffentlichers
Zusammenfassung:	Recent years have seen a substantial increase in the volatility of exchange rates. This trend has prompted economists and finance analysts to question if the observed behaviour of exchange rates is consistent with a rational model. Does that volatility hinder trade? What are financial markets' effects on countries' investment decisions, and how would changes in fixed exchange rates affect growth and welfare? What are the requirements to make such changes feasible? Professors Sercu and Uppal examine these issues in the context of dynamic general equilibrium models, explicitly considering the role of financial markets while allowing for commodity markets to be segmented across countries. They show that the theoretical models for exchange rates in this context are quite different from those put forth by monetary theorists and proponents of purchasing power parity arguments
Beschreibung:	Title from publisher's bibliographic system (viewed on 05 Oct 2015)
Beschreibung:	1 online resource (xvii, 154 pages)
ISBN:	9780511549281
DOI:	10.1017/CBO9780511549281