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|c 5.00 USD
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|z 9781451844504
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|a 1018-5941
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|a BD-DhAAL
|c BD-DhAAL
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|a Miller, Norman.
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|a Explaining Foreign Exchange Market Puzzles /
|c Norman Miller.
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|a Washington, D.C. :
|b International Monetary Fund,
|c 1999.
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|a 1 online resource (29 pages)
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|a IMF Working Papers
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|a <strong>Off-Campus Access:</strong> No User ID or Password Required
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|a <strong>On-Campus Access:</strong> No User ID or Password Required
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|a Electronic access restricted to authorized BRAC University faculty, staff and students
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|a 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.
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|a Mode of access: Internet
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|a IMF Working Papers; Working Paper ;
|v No. 1999/027
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| 856 |
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/001/1999/027/001.1999.issue-027-en.xml
|z IMF e-Library
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