Welfare Effects of Transparency in Foreign Exchange Markets: the Role of Hedging Opportunities
β Scribed by Burkhard Drees; Bernhard Eckwert
- Book ID
- 108534696
- Publisher
- John Wiley and Sons
- Year
- 2003
- Tongue
- English
- Weight
- 138 KB
- Volume
- 11
- Category
- Article
- ISSN
- 0965-7576
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π SIMILAR VOLUMES
Support from the DePaul College of Commerce summer research grants program is gratefully 'Data are obtained from the IMM Yearbook, the CRB Commodity Yearbmk, and The Wall Street 'For a discussion of the various theoretical drawbacks of the mean-variance (risk-minimizing) acknowledged.
## Abstract This paper posits asymmetric information as the missing link between the currency demands of investors and changes in the exchange rate. A theoretical model demonstrates that changes in the exchange rate and currency demand are positively correlated for wellβinformed investors and negat