Download or read book Three Essays on Exchange Rate Policy and Equilibrium Exchange Rates written by and published by . This book was released on 1992 with total page 402 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Three Essays in International Finance written by Byong-Ju Lee and published by Stanford University. This book was released on 2011 with total page 132 pages. Available in PDF, EPUB and Kindle. Book excerpt: This thesis consists of three essays on international finance. The first essay is "Exchange rates and Fundamentals". A new open interest rate parity condition that takes account of economic fundamentals is developed from stochastic discount factors (SDFs) of two countries. Through this parity condition, business cycles or fundamentals are linked to exchange rates. Key empirical findings from this parity condition are as follows. First, this model beats the random walk hypothesis: economic fundamentals explain exchange rate movements for high interest rate currencies. Exchange rates of low interest rate currencies act like a random walk because they are less correlated with fundamentals owing to their low risk. For example, U.S. business cycles explain the direction of changes in exchange rates against the dollar. The same thing is true for Japan. Second, this model resolves the forward premium puzzle: the forward premium puzzle is not a general characteristic as regarded in previous studies. It happens when the risk awareness of investors is low, during economic expansions and for low risk currencies. The second essay is "Carry Trade and Global Financial Instability". Carry trade, an opportunistic investment strategy that takes advantage of interest rate differential across countries, is identified the cause of the large-scale depreciations of peripheral currencies in the later half of 2008. A simultaneous equations model, which is derived from a conceptual partial equilibrium model for a local foreign exchange market, is estimated from a cross-sectional sample. The results suggest that the larger appreciation of the yen than the dollar was brought about by a lack of the local supply of the yen rather than a more severe crunch of yen credits. The third essay is "The Economic Origin of Letters of Credit". This essay discusses the economic origin of letters of credit, an instrument widely used in international trade. A game theoretical analysis shows that letters of credit improve efficiency in trade settlements, increasing returns in trade. A few notable facts on letters of credit are discussed. First, the new institution is adopted by merchant banks to maximize their profits and in the process, an improvement in efficiency of international transactions is obtained. Second, the organization established by the legacy institution, bills of exchange, played a critical role in adopting the new institution. Third, the legal enforcement is not essential in this economic institution. Finally, two drivers are identified that improve efficiency of transactions: concentration and projection.

Download or read book Autograph Letter Signed from Edward Hughes Woughton Buckinghamshire to Sir Christopher Hatton written by and published by . This book was released on 1618 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: About a disputed living.

Download or read book Three Essays on Exchange Rate Determination written by Richard Kent Lyons and published by . This book was released on 1987 with total page 250 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Three Essays on Exchange Rate Economics written by Gil Kim and published by . This book was released on 2009 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Lettre d un amateur du bien public sur le projet du r tablissement des tats de la Guienne written by and published by . This book was released on 1789 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Three Essays on Monetary Policy and Exchange Rates written by Liang Fu (Ph. D. in economics) and published by . This book was released on 2022 with total page 150 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Three Essays on Exchange Rates written by Nathan Perry and published by . This book was released on 2010 with total page 96 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Intervention Interest Rates and Charts written by Mr.Mark P. Taylor and published by International Monetary Fund. This book was released on 1991-11-01 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper contains essays on sterilized intervention, on covered interest rate parity, and on chartist analysis in financial markets. Each essay contains a definition, brief survey of the empirical evidence and overall assessment of each topic.

Download or read book Three Essays in the Theory of Exchange Rate Dynamics written by Andrew Renfrew Criswell and published by . This book was released on 1983 with total page 248 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Three Essays on Monetary Policy and the Exchange Rate written by Rodrigo Ernesto Caputo Galarce and published by . This book was released on 2004 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Three Essays in Exchange Rate Policy written by Punam Chuhan and published by . This book was released on 1985 with total page 426 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Three Essays on Incomplete Exchange Rate Pass through Monetary Policy and Province Border Effects written by Wei Chen and published by . This book was released on 2004 with total page 284 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Three Essays on Exchange Rate Pass through written by Aurora Ascione and published by . This book was released on 2009 with total page 71 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Three Essays on Exchange Rates and Fundamentals written by Hsiu-Hsin Ko and published by . This book was released on 2009 with total page 119 pages. Available in PDF, EPUB and Kindle. Book excerpt: Abstract: Over the course of three main chapters, my dissertation research investigates the relationship between exchange rates and monetary fundamentals under the present value model and provides validations of the present-value model for exchange rates with newly developed econometric techniques.

Download or read book Three Essays on Exchange Rates written by Daniel Mershon and published by . This book was released on 2020 with total page 109 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Three Essays on Exchange Rate Policy and International Competitiveness written by Marcel Cassard and published by . This book was released on 1993 with total page 220 pages. Available in PDF, EPUB and Kindle. Book excerpt: