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Foreign exchange market

About: Foreign exchange market is a research topic. Over the lifetime, 6661 publications have been published within this topic receiving 153384 citations. The topic is also known as: forex & FX.


Papers
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Journal ArticleDOI
TL;DR: In this paper, the authors studied the impact that unanticipated changes in the exchange rate, specifically the currency crises that took place in Latin America between 1998 and 2004, had on the value of Spanish companies operating in this region.
Abstract: Purpose – The purpose of this paper is to look at the impact that unanticipated changes in the exchange rate, specifically the currency crises that took place in Latin America between 1998 and 2004, had on the value of Spanish companies operating in this region. It also studies the strategies, decisions, measures and initiatives that these firms made to improve the effectiveness of their hedging activities. Building upon previous studies in industrialised countries, the study applies a broader perspective as it takes a cross‐functional approach by including finance, strategic planning, marketing and operations management in the analysis.Design/methodology/approach – The paper uses qualitative and quantitative analyses to reach its conclusions. The quantitative study involves a time series regression to calculate a foreign exchange exposure (FOREX) coefficient. The qualitative analysis uses a systematic approach to develop categories from the data gathered in the interviews. Finally, the conclusions from b...

31 citations

Journal Article
TL;DR: In this paper, the authors argue that the government should continue to be an important participant in the foreign exchange market but not attempt to establish a level for the exchange rate, and propose an intervention that is triggered by exchange rate volatility but constrained by an announced target for the government's overall net foreign asset position.
Abstract: The monetary policy and exchange rate regime that served Korea well for many years ended in crisis in 1997. The regime that collapsed was characterized by a tightly managed nominal exchange rate and domestic financial markets that were controlled by the government and largely closed to international transactions. The practical question for authorities over the next few years is what monetary and exchange rate regime will best promote the objectives of maintaining economic and financial stability as financial markets are liberalized. Our basic proposal is that the powerful policy tool, interest rate policy, be used to attain a "flexible" inflation target. Flexibility in this context means that the authorities also care about short-run fluctuations in domestic output and employment. The less powerful policy tool, sterilized intervention in the foreign exchange market, would be used to limit day to day changes in exchange rates. We argue that the government should continue to be an important participant in the foreign exchange market but not attempt to establish a level for the exchange rate. Our proposal will involve intervention that is triggered by exchange rate volatility but constrained by an announced target for the government's overall net foreign asset position. The objective of this regime is to allow the government to participate in the foreign exchange market in a way that contributes to economic stability and promotes the development of the private sector's participation in foreign exchange and financial markets.

31 citations

Journal ArticleDOI
TL;DR: In this paper, the Euro-US dollar exchange rate cointegrates with other major exchange rates since the introduction of the Euro and the results are compared with those of a cointegration analysis of the pre-Euro era.

31 citations

Book
01 Jan 2005
TL;DR: The Mundell-Fleming Model, the Flexible Price Monetary Model, and the Dornbusch Model have been used in this article to model the international economic environment and foreign exchange rate determination.
Abstract: Foreign Exchange and Foreign Exchange Markets: Foreign Exchange Markets and Foreign Exchange Rates.- Exchange Rate Regimes and International Monetary Systems. International Economic Environment and Foreign Exchange Rate Determination: International Parity Conditions.- Balance of Payments and International Investment Positions.- Open Economy Macroeconomics.- The Mundell-Fleming Model.- The Flexible Price Monetary Model.- The Dornbusch Model. Foreign Exchange Exposure and Risk Management: Global Derivatives Markets.- Currency Futures.- Currency Options.- Currency Swaps.- Transaction Exposure.- Economic Exposure and Accounting Exposure. Foreign Investment Analysis and Strategies: Country Risk and Sovereign Risk Analysis.- Foreign Direct Investment and International Portfolio Investment.

31 citations

Book
01 Jan 1980
TL;DR: In this article, the authors provide the first detailed empirical investigation of the financing of UK trade flows based on questionnaires received from samples of firms engaged in exporting or importing in February, I975.
Abstract: The authors provide the first detailed empirical investigation of the financing of UK trade flows based on questionnaires received from samples of firms engaged in exporting or importing in February, I975. The first five chapters (IOO pages) are concerned with the formulation and testing of various hypo- theses relating to trade financing practices. The remaining two chapters are concerned with the implications of the results for the foreign exchange market and for policy formulation. Discussion of the former section of the book can be conveniently organised around the four main characteristics of trade financing identified by the authors; currency of denomination of the invoice; the use of forward cover; the method of settlement; the period of credit.

31 citations


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Performance
Metrics
No. of papers in the topic in previous years
YearPapers
2023158
2022202
2021157
2020171
2019209
2018198