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The Exchange Rate in a Behavioral Finance Framework
Paul De Grauwe
€ 143.47
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Description for The Exchange Rate in a Behavioral Finance Framework
Hardback. Offers an alternative view of the workings of foreign exchange markets. This title explains why large exchange-rate changes and volatility clustering occur. It analyzes the effects of official interventions in the foreign exchange market. It is suitable for analysts in foreign exchange markets and students of international finance and economics. Num Pages: 224 pages, 120 line illus. 21 tables. BIC Classification: KCBM. Category: (P) Professional & Vocational; (U) Tertiary Education (US: College). Dimension: 232 x 156 x 21. Weight in Grams: 530.
This book provides an alternative view of the workings of foreign exchange markets. The authors' modeling approach is based on the idea that agents use simple forecasting rules and switch to those rules that have been shown to be the most profitable in the past. This selection mechanism is based on trial and error and is probably the best possible strategy in an uncertain world, the authors contend. It creates a rich dynamic in the foreign exchange markets and can generate bubbles and crashes. Sensitivity to initial conditions is a pervasive force in De Grauwe and Grimaldi's model. It explains ... Read more
This book provides an alternative view of the workings of foreign exchange markets. The authors' modeling approach is based on the idea that agents use simple forecasting rules and switch to those rules that have been shown to be the most profitable in the past. This selection mechanism is based on trial and error and is probably the best possible strategy in an uncertain world, the authors contend. It creates a rich dynamic in the foreign exchange markets and can generate bubbles and crashes. Sensitivity to initial conditions is a pervasive force in De Grauwe and Grimaldi's model. It explains ... Read more
Product Details
Format
Hardback
Publication date
2006
Publisher
Princeton University Press United States
Number of pages
224
Condition
New
Number of Pages
224
Place of Publication
New Jersey, United States
ISBN
9780691121635
SKU
V9780691121635
Shipping Time
Usually ships in 15 to 20 working days
Ref
99-15
About Paul De Grauwe
Paul De Grauwe is Professor of International Economics at the University of Leuven, Belgium. His books include The Economics of Monetary Union and Exchange Rate Theories: Chaotic Models of the Foreign Exchange Markets. Marianna Grimaldi is an economist in the research department of the Sveriges Riksbank, Stockholm. Her research interests are international monetary relations and exchange rate economics.
Reviews for The Exchange Rate in a Behavioral Finance Framework
"DeGrauwe and Grimaldi have written a most stimulating book with many interesting ideas for students and researchers of modern economics and finance, economic policy makers as well as financial practitioners... It is a well balanced mixture of finance intuition, model simulations as well as rigorous analysis, described in a lucid way and illustrated by many clarifying figures."
Cars Hommes, International Review ... Read more
Cars Hommes, International Review ... Read more