Explaining Foreign Exchange Market Puzzles:
Gespeichert in:
Bibliographische Detailangaben
Beteilige Person: Miller, Norman C. (VerfasserIn)
Format: Elektronisch E-Book
Sprache:Englisch
Veröffentlicht: Washington, D.C International Monetary Fund 1999
Schriftenreihe:IMF Working Papers Working Paper No. 99/27
Links:http://elibrary.imf.org/view/IMF001/02232-9781451844504/02232-9781451844504/02232-9781451844504.xml
http://elibrary.imf.org/view/IMF001/02232-9781451844504/02232-9781451844504/02232-9781451844504.xml
http://elibrary.imf.org/view/IMF001/02232-9781451844504/02232-9781451844504/02232-9781451844504.xml
http://elibrary.imf.org/view/IMF001/02232-9781451844504/02232-9781451844504/02232-9781451844504.xml
http://elibrary.imf.org/view/IMF001/02232-9781451844504/02232-9781451844504/02232-9781451844504.xml
http://elibrary.imf.org/view/IMF001/02232-9781451844504/02232-9781451844504/02232-9781451844504.xml
http://elibrary.imf.org/view/IMF001/02232-9781451844504/02232-9781451844504/02232-9781451844504.xml
http://elibrary.imf.org/view/IMF001/02232-9781451844504/02232-9781451844504/02232-9781451844504.xml
http://elibrary.imf.org/view/IMF001/02232-9781451844504/02232-9781451844504/02232-9781451844504.xml
http://elibrary.imf.org/view/IMF001/02232-9781451844504/02232-9781451844504/02232-9781451844504.xml
http://elibrary.imf.org/view/IMF001/02232-9781451844504/02232-9781451844504/02232-9781451844504.xml
http://elibrary.imf.org/view/IMF001/02232-9781451844504/02232-9781451844504/02232-9781451844504.xml
http://elibrary.imf.org/view/IMF001/02232-9781451844504/02232-9781451844504/02232-9781451844504.xml
http://elibrary.imf.org/view/IMF001/02232-9781451844504/02232-9781451844504/02232-9781451844504.xml
http://elibrary.imf.org/view/IMF001/02232-9781451844504/02232-9781451844504/02232-9781451844504.xml
http://elibrary.imf.org/view/IMF001/02232-9781451844504/02232-9781451844504/02232-9781451844504.xml
http://elibrary.imf.org/view/IMF001/02232-9781451844504/02232-9781451844504/02232-9781451844504.xml
http://elibrary.imf.org/view/IMF001/02232-9781451844504/02232-9781451844504/02232-9781451844504.xml
http://elibrary.imf.org/view/IMF001/02232-9781451844504/02232-9781451844504/02232-9781451844504.xml
http://elibrary.imf.org/view/IMF001/02232-9781451844504/02232-9781451844504/02232-9781451844504.xml
http://elibrary.imf.org/view/IMF001/02232-9781451844504/02232-9781451844504/02232-9781451844504.xml
Abstract:The paper develops a flow model of the exchange rate with speculative capital flows integrated in a rigorous manner. The model is consistent with five foreign exchange market puzzles: (1) occasional discontinuous jumps in the exchange rate; (2) periodic short-term regimes of persistent appreciation/depreciation that can develop into a long swing; (3) the forward discount bias; (4) volatility clusters in the foreign exchange market that create conditional heteroskedasticity; and (5) the dual profitability of betting in the short run against any official foreign exchange intervention, and betting with the intervention in the long run
Umfang:1 Online-Ressource (29 p)
ISBN:1451844506
9781451844504