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 nine innovative essays use a microstructure approach to analyze the workings of the foreign exchange market, with special emphasis on institutional aspects and the actual behavior of market participants. They examine the volume of transactions, ...
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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 nine innovative essays use a microstructure approach to analyze the workings of the foreign exchange market, with special emphasis on institutional aspects and the actual behavior 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. This timely volume will be essential reading for anyone interested in the economics of international finance.
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Add this copy of The Microstructure of Foreign Exchange Markets to cart. $87.99, good condition, Sold by Bonita rated 4.0 out of 5 stars, ships from Newport Coast, CA, UNITED STATES, published 1996 by University of Chicago Press.
Add this copy of The Microstructure of Foreign Exchange Markets to cart. $95.00, very good condition, Sold by Doss-Haus Books rated 4.0 out of 5 stars, ships from Redondo Beach, CA, UNITED STATES, published 1996 by University of Chicago Press.
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Very Good in Very Good jacket. Book. 8vo-over 7¾"-9¾" tall. Hardcover 1996 edition. Dust jacket shows fading to spine. Binding firm. Pages unmarked and clean. Covers and text in very good condition. [346 pages]
Add this copy of The Microstructure of Foreign Exchange Markets to cart. $145.85, new condition, Sold by GridFreed rated 4.0 out of 5 stars, ships from North Las Vegas, NV, UNITED STATES, published 1996 by University of Chicago Press.
