[PDF] Destabilizing Exchange Rate Speculation eBook

Author : Laurence Krause
Publisher : Routledge
Page : 314 pages
File Size : 27,36 MB
Release : 2019-07-11
Category : Political Science
ISBN : 1000312895

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I began serious consideration of the issues and subject matter that comprise this book as a graduate student at the University of Massachusetts at Amherst. In need of a dissertation topic and vaguely curious about international monetary economics, I decided to sit in on Leonard Rapping's undergraduate course on international finance. Needless to say, I was soon hooked. Within several months I was teaching my own course on international money and beginning to write an outline of what would become my doctoral dissertation on foreign exchange speculation. Once completed the dissertation thesis became this basis for this book.

Author : Robert G. James
Publisher :
Page : 6 pages
File Size : 37,81 MB
Release : 2016
Category :
ISBN :

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A simple two period, two country model is used to show that profit seeking speculation can destabilize exchange rates, a fact that has important implications toward international financial policy. Stable exchange rates may require use of government regulation and/or taxation to prevent the destabilizing effect of speculation.

Author : Laurence Krause
Publisher : Routledge
Page : 298 pages
File Size : 45,87 MB
Release : 2019-10-02
Category : Foreign exchange futures
ISBN : 9780367288563

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I began serious consideration of the issues and subject matter that comprise this book as a graduate student at the University of Massachusetts at Amherst. In need of a dissertation topic and vaguely curious about international monetary economics, I decided to sit in on Leonard Rapping's undergraduate course on international finance. Needless to say, I was soon hooked. Within several months I was teaching my own course on international money and beginning to write an outline of what would become my doctoral dissertation on foreign exchange speculation. Once completed the dissertation thesis became this basis for this book.

Author : International Monetary Fund. Research Dept.
Publisher : International Monetary Fund
Page : 289 pages
File Size : 22,54 MB
Release : 1977-01-01
Category : Business & Economics
ISBN : 1451947550

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This paper is an attempt to examine several theories about the dynamics of exchange rate adjustment. All the models start from the premise that exchange rates are determined by the balancing of supply and demand for each currency and that expectations play a prime role in determining demand. The paper considers four aspects of the exchange rate adjustment process—each of which has been proposed as a source of exchange rate variability. First, the long-standing debate on stabilizing versus destabilizing speculation is re-examined. Possible patterns of exchange rate movements that might result from both extrapolative and rational expectations are shown. Then, the assumptions and exchange rate adjustment pattern implied by the asset market equilibrium approach to exchange rate determination are described. No one aspect of the exchange rate adjustment considered in this paper is held to be responsible for the large exchange rate variations observed in recent years. Rather, from both an a priori consideration and empirical examinations, each of the processes considered appears to have contributed to observed exchange rate variations.