Exchange Rate Risk Under Generalized Floating: Eight Asian Countries

This paper examines whether exchange rate risk (defined as the variety of nominal and price-adjusted import-weighed exchange rates) has increased in the present system of generalized floating for eight Asian developing countries. The first major finding is that the samples of import-weighted exchang...

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Bibliographic Details
Main Author: Rana, Pradumna B. (Author)
Format: Electronic eBook
Language:English
Published: Singapore ISEAS Publishing [1980]
Online Access:DE-859
DE-860
DE-739
DE-473
DE-1046
DE-1043
DE-858
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Summary:This paper examines whether exchange rate risk (defined as the variety of nominal and price-adjusted import-weighed exchange rates) has increased in the present system of generalized floating for eight Asian developing countries. The first major finding is that the samples of import-weighted exchange rates conform better to non-normal stable Paretian distributions than to normal ones; sample standard deviation is therefore an erratic and misleading measure of variability. The second is that the scale and Gini's mean difference measures of variability indicate that exchange rate risk has increased substantially - in nominal terms more than in real terms and in the short run more than in the long run
Item Description:Description based on online resource; title from PDF title page (publisher's Web site, viewed 22. Jun 2018)
Physical Description:1 online resource
ISBN:9789814377669
DOI:10.1355/9789814377669

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