Foreign exchange markets
In: The international library of critical writings in financial economics 17
In: An Elgar reference collection
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In: The international library of critical writings in financial economics 17
In: An Elgar reference collection
In: Journal of economics and business, Band 76, S. 1-9
ISSN: 0148-6195
In: Contemporary economic policy: a journal of Western Economic Association International, Band 9, Heft 4, S. 20-38
ISSN: 1465-7287
The European Community (EC) seems headed toward monetary union, either with "permanently" fixed exchange rates or with a common currency. Ceteris paribus, the breakup of the Soviet empire in Eastern Europe makes monetary union less desirable. One can expect further shocks from the East. Analyzing stock markets' reactions to events in the East from late 1988 to early 1990 shows that these shocks typically differentially affect EC members, particularly Germany. These differential shocks often call for adjustments in relative national price levels, which can be accomplished most easily with exchange‐rate adjustments. The likelihood of such pressures reduces the credibility of a system of pegged rates and makes the system more vulnerable to speculative runs. A common currency is more credible by its nature but may give an inflationary bias to the European Monetary Union.
In: The International trade journal, Band 5, Heft 1, S. 25-51
ISSN: 1521-0545
Technical analysis is not supposed consistently to beat financial markets. In this book, however, Professors Surajaras and Sweeney seek to establish that carefully chosen rules can produce substantial and consistent measured profits over time. The authors also call into question the traditional academic wisdom that markets in general are efficient.
In: Review of Pacific Basin Financial Markets and Policies, Band 2, Heft 3, S. 341-373
ISSN: 1793-6705
Quantitative estimates show that India's nuclear tests caused important economic damage to India and its neighbors, Pakistan and China. Pakistan's tests caused further economic damage to all three countries. In response to India's tests, India's stock market fell by 7.26 percent, Pakistan's by 10.59 percent and China's by 2.70 percent. In response to Pakistan's tests, India's stock market fell by another 5.57 percent, Pakistan's by 16.82 percent and China's by 3.93 percent. Overall, the two countries' tests caused India's stock market to fall by 12.83 percent, Pakistan's by 27.41 percent and China's by 6.63 percent. Some argue that going nuclear increased India and Pakistan's national security and their international political standing. In the financial markets' opinion, these tests caused major reductions in both countries' economic security, and harmed China's economic security. The tests had no important effects on the Group of Ten countries' stock markets; thus, the tests' economic effects seem for the moment of be confined to southern Asia.
In: The political economy of global interdependence 174
In: Kyklos: international review for social sciences, Band 29, Heft 2, S. 292-309
ISSN: 1467-6435
In: Journal of European Economic History (forthcoming)
SSRN
In: The political economy of global interdependence
In: Journal of international economics, Band 7, Heft 4, S. 349-362
ISSN: 0022-1996