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The Economics of Currency Risk
SSRN Electronic Journal, 2020This article reviews the literature on currency and country risk with a focus on their macroeconomic origins and implications. A growing body of evidence shows that countries with safer currencies enjoy persistently lower interest rates and a lower required return to capital.
Tarek Alexander Hassan, Tony Zhang
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Currency-related risk and risk premium in the world's currency market
European Economic Review, 1983Abstract The foreign exchange market has become a major arena for investment activity for both corporate and individual investors. Intensive and widespread international investment activity makes the empirical estimation of exchange risk a very topical subject. In this connection, the classic controversy between Hicks and Telser assumes new relevance.
Tamir Agmon, Ruth Arad
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Intertemporal Risk and Currency Risk
2012國際企業學系 ; 管理學院 ...
Hung, Mao-Wei, Chang, J.
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Asymmetric currency exposure and currency risk pricing
International Review of Financial Analysis, 2008Abstract Whether stock returns are linked to currency movements and whether currency risk is priced in a domestic context are less conclusive and thus still subject to a great debate. Based on a different approach, this paper attempts to provide new empirical evidence on these two inter-related issues, which are critical to investors and corporate ...
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Currency Risk and Country Risk in International Banking
The Journal of Finance, 1985ABSTRACTThis paper focuses on the conditions under which banks are subject to currency and country risks on their dollar‐denominated loans to foreign firms and governments. We conclude that currency risk is a function of the rates of domestic and foreign inflation, deviations from purchasing power parity, and the effect of these deviations on the firm ...
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Vision: The Journal of Business Perspective, 1998
With market frontiers expanding and financial price volatility and risk going up, management of foreign exchange risk assumes importance. The implications of increased involvement of Indian companies in international trade and finance require managers to measure the foreign exchange exposure and manage it to maximise profitability, net cash flow and ...
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With market frontiers expanding and financial price volatility and risk going up, management of foreign exchange risk assumes importance. The implications of increased involvement of Indian companies in international trade and finance require managers to measure the foreign exchange exposure and manage it to maximise profitability, net cash flow and ...
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2018
This book demonstrates how exporters’ decisions regarding choice of invoice currency can be influenced by many factors including firm size, product competitiveness, intra/inter-firm trades, and the geography of export destination. The aim is to enhance our understanding of exporters’ behavior in terms of managing currency risk.
Junko Shimizu +3 more
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This book demonstrates how exporters’ decisions regarding choice of invoice currency can be influenced by many factors including firm size, product competitiveness, intra/inter-firm trades, and the geography of export destination. The aim is to enhance our understanding of exporters’ behavior in terms of managing currency risk.
Junko Shimizu +3 more
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Currency Risk in Currency Unions
2013Sovereign yield spreads within currency unions may reflect the risk of outright default. Yet, if exit from the currency union is possible, spreads may also reflect currency risk. In this paper, we develop a New Keynesian model of a small member country of a currency union, allowing both for default within and exit from the union.
Kriwoluzky, Alexander +2 more
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Differences in Beliefs and Currency Risk Premia
SSRN Electronic Journal, 2009This paper investigates how heterogeneous beliefs of professional investors impact on the currency options market. Using a unique data set with detailed information on the foreign-exchange forecasts of about 50 market participants over more than ten years, we construct an empirical proxy for differences in beliefs.
Beber, A., Breedon, F., Buraschi, A.
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1990
We have seen in Chapter 10 methodologies whereby to represent uncertainty and manipulate uncertainty-affected propositions. One particular class of uncertainty is the likelihood of the loss (or gain) of an asset or of return on it, which in a generic way can be one definition of “risk”.
Louis F. Pau, Claudio Gianotti
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We have seen in Chapter 10 methodologies whereby to represent uncertainty and manipulate uncertainty-affected propositions. One particular class of uncertainty is the likelihood of the loss (or gain) of an asset or of return on it, which in a generic way can be one definition of “risk”.
Louis F. Pau, Claudio Gianotti
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