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Exchange Rate Variability and Asset Trade
Stockholm University, Faculty of Social Sciences, Institute for International Economic Studies.
Stockholm University, Faculty of Social Sciences, Institute for International Economic Studies.
1987 (English)Report (Other academic)
Abstract [en]

In popular discussion about the merits of different international monetary arrangements it is often maintained that increased exchange rate variability has a negative influence on international trade and foreign investment. This paper addresses a specific, but also a very basic, aspect of this general issue, namely the effect of exchange rate variability on capital flows and international portfolio diversification. More precisely, we examine how different monetary policies - and among those, policies that aim at stabilizing exchange rate - determine the risk characteristics of nominal assets, and how these risk characteristics in turn affect international portfolio composition and trade in assets, when international asset markets are incomplete.

Place, publisher, year, edition, pages
Stockholm: IIES , 1987. , 38 p.
Series
Seminar Paper / Institute for International Economic Studies, Stockholm University, ISSN 0347-8769 ; 394
Keyword [en]
Exchange rate risk, asset trade, international portfolio diversification
National Category
Economics
Identifiers
URN: urn:nbn:se:su:diva-41574OAI: oai:DiVA.org:su-41574DiVA: diva2:331210
Available from: 2010-07-21 Created: 2010-07-21 Last updated: 2010-07-21Bibliographically approved

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Persson, TorstenSvensson, Lars E.O.
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CiteExportLink to record
Permanent link

Direct link
Cite
Citation style
  • apa
  • ieee
  • modern-language-association-8th-edition
  • vancouver
  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
  • rtf