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...
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| Формат: | Журнал |
| Мова: | English |
| Опубліковано: |
Washington, D.C. :
International Monetary Fund,
1991.
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| Серія: | IMF Working Papers; Working Paper ;
No. 1991/104 |
| Онлайн доступ: | Full text available on IMF |