Financial Liberalisation, Asset Prices and Exchange Rates:
This paper is one of four in this Working Paper Series, focusing on financial liberalisation, along with those of Kupiec, Driscoll and Blundell-Wignall and Browne. It surveys recent work, both theoretical and empirical, on the question of market efficiency in various asset markets. A number of studi...
Gespeichert in:
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| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Paris
OECD Publishing
1991
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| Schriftenreihe: | OECD Economics Department Working Papers
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| Schlagworte: | |
| Online-Zugang: | Volltext |
| Zusammenfassung: | This paper is one of four in this Working Paper Series, focusing on financial liberalisation, along with those of Kupiec, Driscoll and Blundell-Wignall and Browne. It surveys recent work, both theoretical and empirical, on the question of market efficiency in various asset markets. A number of studies of behaviour in the foreign exchange market, which provide evidence of departures from efficiency, are described. The paper summarises and discusses the implications of research on the effects of noise trading by "irrational" groups of agents, with particular reference to the stock market. The housing market is also considered as an example where pronounced price "bubbles" have appeared. The paper concludes with a discussion of the potential welfare impact of departures from efficiency in the foreign exchange market, where it is argued that the case for some form of intervention is strongest ... |
| Beschreibung: | 1 Online-Ressource (39 Seiten) 21 x 29.7cm |
| DOI: | 10.1787/204832165553 |
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Datensatz im Suchindex
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| spelling | Miller, Marcus Verfasser aut Financial Liberalisation, Asset Prices and Exchange Rates Marcus Miller and Paul Weller Paris OECD Publishing 1991 1 Online-Ressource (39 Seiten) 21 x 29.7cm txt rdacontent c rdamedia cr rdacarrier OECD Economics Department Working Papers This paper is one of four in this Working Paper Series, focusing on financial liberalisation, along with those of Kupiec, Driscoll and Blundell-Wignall and Browne. It surveys recent work, both theoretical and empirical, on the question of market efficiency in various asset markets. A number of studies of behaviour in the foreign exchange market, which provide evidence of departures from efficiency, are described. The paper summarises and discusses the implications of research on the effects of noise trading by "irrational" groups of agents, with particular reference to the stock market. The housing market is also considered as an example where pronounced price "bubbles" have appeared. The paper concludes with a discussion of the potential welfare impact of departures from efficiency in the foreign exchange market, where it is argued that the case for some form of intervention is strongest ... Economics Weller, Paul ctb https://doi.org/10.1787/204832165553 Verlag kostenfrei Volltext |
| spellingShingle | Miller, Marcus Financial Liberalisation, Asset Prices and Exchange Rates Economics |
| title | Financial Liberalisation, Asset Prices and Exchange Rates |
| title_auth | Financial Liberalisation, Asset Prices and Exchange Rates |
| title_exact_search | Financial Liberalisation, Asset Prices and Exchange Rates |
| title_exact_search_txtP | Financial Liberalisation, Asset Prices and Exchange Rates |
| title_full | Financial Liberalisation, Asset Prices and Exchange Rates Marcus Miller and Paul Weller |
| title_fullStr | Financial Liberalisation, Asset Prices and Exchange Rates Marcus Miller and Paul Weller |
| title_full_unstemmed | Financial Liberalisation, Asset Prices and Exchange Rates Marcus Miller and Paul Weller |
| title_short | Financial Liberalisation, Asset Prices and Exchange Rates |
| title_sort | financial liberalisation asset prices and exchange rates |
| topic | Economics |
| topic_facet | Economics |
| url | https://doi.org/10.1787/204832165553 |
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