The foreign exchange market is the largest, fastest-growing financial market in the world. Yet conventional macroeconomic approaches do not explain why people trade foreign exchange. At the same time, they fail to explain the short-run determinants of the exchange rate. These essays use a microstructure approach to analyze the workings of the foreign exchange market, with special emphasis on institutional aspects and the actual behaviour of market participants. They examine the volume of transactions, heterogeneity of traders, the time of day and location of trading, the bid-ask spread, and the high level of exchange rate volatility that has puzzled many observers. They also consider the structure of the market, including such issues as nontransparency, asymmetric information, liquidity trading, the use of automated brokers, the relationship between spot and derivative markets, and the importance of systemic risk in the market.
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The foreign exchange market is the largest, fastest-growing financial market in the world. Yet conventional macroeconomic approaches do not explain why people trade foreign exchange. At the same time, they fail to explain the short-run determinants of the exchange rate. These essays use a microstructure approach to analyze the workings of the foreign exchange market, with special emphasis on institutional aspects and the actual behaviour of market participants. They examine the volume of transactions, heterogeneity of traders, the time of day and location of trading, the bid-ask spread, and the high level of exchange rate volatility that has puzzled many observers. They also consider the structure of the market, including such issues as nontransparency, asymmetric information, liquidity trading, the use of automated brokers, the relationship between spot and derivative markets, and the importance of systemic risk in the market.
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gebundene Ausgabe. Zustand: Gut. 346 Seiten Der Erhaltungszustand des hier angebotenen Werks ist trotz seiner Bibliotheksnutzung sehr sauber und kann entsprechende Merkmale aufweisen (Rückenschild, Instituts-Stempel.). Original-Schutzumschlag vorhanden (siehe Foto). In ENGLISCHER Sprache. Sprache: Englisch Gewicht in Gramm: 680. Bestandsnummer des Verkäufers 2157780
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Hardcover. Zustand: Good. No Jacket. x, 346 p. Bestandsnummer des Verkäufers GU4106
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Hardcover. Zustand: Very Good. Zustand des Schutzumschlags: Very Good. Hardcover 1996 edition. Dust jacket shows fading to spine. Binding firm. Pages unmarked and clean. Covers and text in very good condition. [346 pages]. Bestandsnummer des Verkäufers 012686
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