Persistence in the Variability of Daily Exchange Rates /
Rational speculation in foreign exchange trading is often assumed to dampen exchange rate fluctuations by bringing the market back to fundamentals. Nevertheless, information congestion provides incentives for traders to follow positive feedback strategies which result in persistent and volatile exch...
| Autor Principal: | |
|---|---|
| Formato: | Revista |
| Idioma: | English |
| Publicado: |
Washington, D.C. :
International Monetary Fund,
1991.
|
| Series: | IMF Working Papers; Working Paper ;
No. 1991/104 |
| Acceso en liña: | Full text available on IMF |