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Exchange Rate Movements And International Interdependence Of Stock Markets
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Book Synopsis Exchange Rate Movements and International Interdependence of Stock Markets by : International Monetary Fund
Download or read book Exchange Rate Movements and International Interdependence of Stock Markets written by International Monetary Fund and published by International Monetary Fund. This book was released on 1989-05-12 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper investigates linkages between stock markets in seven industrialized countries since 1974. Empirical evidence shows that both nominal and real stock prices (and returns) are strongly positively correlated across countries, and that nominal exchange rate changes do not have systematic effects on nominal stock prices. A two-country theoretical model is developed and an attempt is made to reconcile the empirical findings with the properties of this model. Independent evidence on the main sources of shocks is used to argue that the time-varying correlation in the data can be reconciled with the predictions of the theory.
Book Synopsis Exchange rate movements and international interdependence of stock markets by : Jagdeep S.; Genberg Bhandari (Hans)
Download or read book Exchange rate movements and international interdependence of stock markets written by Jagdeep S.; Genberg Bhandari (Hans) and published by . This book was released on 2004 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Exchange Rate Movements and International Interdependence of Stock Markets by : Jagdeep S. Bhandari
Download or read book Exchange Rate Movements and International Interdependence of Stock Markets written by Jagdeep S. Bhandari and published by . This book was released on 2006 with total page 53 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper investigates linkages between stock markets in seven industrialized countries since 1974. Empirical evidence shows that both nominal and real stock prices (and returns) are strongly positively correlated across countries, and that nominal exchange rate changes do not have systematic effects on nominal stock prices. A two-country theoretical model is developed and an attempt is made to reconcile the empirical findings with the properties of this model. Independent evidence on the main sources of shocks is used to argue that the time-varying correlation in the data can be reconciled with the predictions of the theory.
Book Synopsis Speculation And The Dollar by : Laurence Krause
Download or read book Speculation And The Dollar written by Laurence Krause and published by Routledge. This book was released on 2019-07-11 with total page 313 pages. Available in PDF, EPUB and Kindle. Book excerpt: I began serious consideration of the issues and subject matter that comprise this book as a graduate student at the University of Massachusetts at Amherst. In need of a dissertation topic and vaguely curious about international monetary economics, I decided to sit in on Leonard Rapping's undergraduate course on international finance. Needless to say, I was soon hooked. Within several months I was teaching my own course on international money and beginning to write an outline of what would become my doctoral dissertation on foreign exchange speculation. Once completed the dissertation thesis became this basis for this book.
Book Synopsis Price Interdependence Among Equity Markets in the Asia-Pacific Region: Focus on Australia and ASEAN by : Eduardo D Roca
Download or read book Price Interdependence Among Equity Markets in the Asia-Pacific Region: Focus on Australia and ASEAN written by Eduardo D Roca and published by Routledge. This book was released on 2018-01-18 with total page 184 pages. Available in PDF, EPUB and Kindle. Book excerpt: This title was first published in 2000: An investigation of the issue of financial markets interdependence or integration through the application of recently developed and powerful techniques in time series econometrics. The text provides coverage of theoretical analysis and applications in the context of the Asia-Pacific region.
Book Synopsis Interdependence Between Foreign Exchange Markets and Stock Markets in Selected European Countries by : Mevlud Islami
Download or read book Interdependence Between Foreign Exchange Markets and Stock Markets in Selected European Countries written by Mevlud Islami and published by . This book was released on 2008 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this analysis the interdependence between foreign exchange markets and stock markets for selected accession and cohesion countries is discussed. This includes basic theoretical approaches. Monthly data for the nominal stock market indices and nominal exchange rates are used, where Ireland, Portugal, Spain, Greece, Poland, Czech Republic, Slovenia, and Hungary are included in the analysis. From the cointegration analysis and VAR analysis both long-term links and short-term links for Poland are identified. Conversely, for Slovenia, Hungary, Ireland, Spain, and Greece merely short-term links resulted. Surprisingly, the direction of causation is unambiguously from the stock market index to the exchange rate for all six countries considered.
Book Synopsis International Transmission of Stock Market Movements by : Cheol S. Eun
Download or read book International Transmission of Stock Market Movements written by Cheol S. Eun and published by . This book was released on 1988 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Structure and Performance by : Elisabetta Bertero
Download or read book Structure and Performance written by Elisabetta Bertero and published by . This book was released on 1989 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis No Contagion, Only Interdependence by : Kristin Forbes
Download or read book No Contagion, Only Interdependence written by Kristin Forbes and published by . This book was released on 1999 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines stock market co-movements. It begins with a discussion of several conceptual issues involved in measuring these movements and how to test for contagion. Standard tests examine if cross-market correlation in stock market returns increase during a period of crisis. The measure of cross-market correlations central to this standard analysis, however, is biased. The unadjusted correlation coefficient is conditional on market movements over the time period under consideration, so that during a period of turmoil when stock market volatility increases, standard estimates of cross-market correlations will be biased upward. It is straightforward to adjust the correlation coefficient to correct for this bias. The remainder of the paper applies these concepts to test for stock market contagion during the 1997 East Asian crises, the 1994 Mexican peso collapse, and the 1987 U.S. stock market crash. In each of these cases, tests based on the unadjusted correlation coefficients find evidence of contagion in several countries, while tests based on the adjusted coefficients find virtually no contagion. This suggests that high market co-movements during these periods were a continuation of strong cross-market linkages. In other words, during these three crises there was no contagion, only interdependence.
Book Synopsis Floating Exchange Rates in an Interdependent World by : U S Government Accountability Office (G
Download or read book Floating Exchange Rates in an Interdependent World written by U S Government Accountability Office (G and published by BiblioGov. This book was released on 2013-07 with total page 98 pages. Available in PDF, EPUB and Kindle. Book excerpt: In response to a congressional request, GAO examined the role of government policy in determining exchange rates and the role of floating exchange rates in an interdependent world economy. The analysis was focused on: (1) the process of exchange rate determination, particularly the yen-dollar rate and the role of Japanese Government actions; (2) the constraints that international economic interdependence impose on economic policy; and (3) alternatives to the floating exchange rate system. According to some analysts, the floating exchange rate system is not an adequate method to facilitate the growth of world trade and investment. Some governments, especially Japan, are alleged to exert improper influence over exchange rates, while the United States does not exert enough influence. While appreciation of the dollar from 1980 to 1983 lowered the inflation rate, it also reduced the gross national product and caused the loss of over a million jobs. GAO found no support for charges that the Japanese Government pursued a policy to deliberately undervalue the yen relative to the dollar. Any intervention undertaken by that government was aimed at strengthening rather than weakening the yen. However, Japan could do more to facilitate greater international use of the yen. GAO found that exchange rates are affected by the international balance of trade, capital flows among nations, differences between countries' national economic policies and economic conditions, and perceived political risks and expectations. The complications of interdependence and the limits to current understanding of exchange rate behavior have prevented a consensus on the advisability of changing the current system. However, the interdependence of national economies constrain the range of domestic economic policies that the United States can adopt.
Book Synopsis Considerations on the Relationship Between Exchange Rates and Stock Markets in Eastern Europe in Time of Crisis by : Dan Lupu
Download or read book Considerations on the Relationship Between Exchange Rates and Stock Markets in Eastern Europe in Time of Crisis written by Dan Lupu and published by . This book was released on 2019 with total page 15 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper investigates the relationship between exchange rates and stock markets for 4 East-European countries, using a sample of 3,500 daily returns during the period 2000-2014. The research method used is Bayesian VAR for the solution of degrees of freedom specific to the VAR technique and the increased forecast probability of economic variables. For the foreign exchange markets we found interdependence relationships between the exchange rates and the short-term capital markets, these relationships manifesting more strongly and in the long run during the economic crisis periods.
Book Synopsis Stock Market and Foreign Exchange Market by : Ian Charles Robert Gracias
Download or read book Stock Market and Foreign Exchange Market written by Ian Charles Robert Gracias and published by . This book was released on 2017-12-13 with total page 80 pages. Available in PDF, EPUB and Kindle. Book excerpt: Stock market investors trade securities that fluctuate based on a variety of factors. But the exchange market is a currency mechanism, and it is not subject to the same regulations and factors that make stock prices go up or down. Ian Charles Robert Gracias, a senior technical analyst and commodity and foreign exchange market trader, explores how stock markets and foreign exchange markets work in this book. He highlights topics such as: -economic indicators that affect the performance and operation of exchange rates; -direct and indirect ways that stock markets and exchange rates affect economic growth rates; and -ways individual investors can bolster returns by understanding how stock markets and exchange rates work Gracias pays particular attention to the stock markets and exchange rate markets in the United Kingdom and in the United States of America, examining the relationship between the FTSE 100 index and the NASDAQ 100 index as well as correlative patterns.
Book Synopsis Identifying the Interdependence Between US Monetary Policy and the Stock Market by : Hilde C. Bjørnland
Download or read book Identifying the Interdependence Between US Monetary Policy and the Stock Market written by Hilde C. Bjørnland and published by . This book was released on 2010 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: We estimate the interdependence between US monetary policy and the S&P 500 using structural VAR methodology. A solution is proposed to the simultaneity problem of identifying monetary and stock price shocks by using a combination of short-run and long-run restrictions that maintains the qualitative properties of a monetary policy shock found in the established literature (CEE 1999). We find great interdependence between interest rate setting and stock prices. Stock prices immediately fall by 1.5 per cent due to a monetary policy shock that raises the federal funds rate by ten basis points. A stock price shock increasing stock prices by one per cent leads to an increase in the interest rate of five basis points. Stock price shocks are orthogonal to the information set in the VAR model and can be interpreted as non-fundamental shocks. We attribute a major part of the surge in stock prices at the end of the 1990s to these non-fundamental shocks.
Book Synopsis Volatility and Comovement in International Stock Markets and the Role of Exchange Rate Fluctuations by : Sema Tasdemir
Download or read book Volatility and Comovement in International Stock Markets and the Role of Exchange Rate Fluctuations written by Sema Tasdemir and published by . This book was released on 2013 with total page 132 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Interdependence of International Stock Markets by : Barry O'Driscoll
Download or read book Interdependence of International Stock Markets written by Barry O'Driscoll and published by . This book was released on 2001 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis International Stock Markets and Fluctuations in Exchange Rates and Other Macroeconomic Variables by : Fatemeh Ibrahimi
Download or read book International Stock Markets and Fluctuations in Exchange Rates and Other Macroeconomic Variables written by Fatemeh Ibrahimi and published by . This book was released on 1990 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Global Capital Markets by : Maurice Obstfeld
Download or read book Global Capital Markets written by Maurice Obstfeld and published by Cambridge University Press. This book was released on 2004 with total page 386 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is an economic survey of international capital mobility from the late nineteenth century to the present.
