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- Publisher Website: 10.1016/S0022-1996(99)00009-4
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Article: A survey of market practitioners' views on exchange rate dynamics
Title | A survey of market practitioners' views on exchange rate dynamics |
---|---|
Authors | |
Keywords | Exchange Rate Dynamics Foreign Exchange Traders Microstructure Survey Study |
Issue Date | 2000 |
Publisher | Elsevier BV. The Journal's web site is located at http://www.elsevier.com/locate/jie |
Citation | Journal Of International Economics, 2000, v. 51 n. 2, p. 401-419 How to Cite? |
Abstract | We report some findings from a survey of practitioners in the interbank foreign exchange markets in Hong Kong, Tokyo, and Singapore. The respondents contend that liquidity and market uncertainty are two important reasons for deviating from the conventional interbank bid-ask spread. A strong customer base is perceived as a source of competitive advantage for large participants. Most respondents agree that non-fundamental factors have pervasive impacts on short-run exchange rates. Speculation is believed to increase volatility but also improve market liquidity and efficiency. Despite their claim that intervention exacerbates volatility, more than one-half of the respondents suggest official intervention helps restore equilibrium. (C) 2000 Elsevier Science B.V. All rights reserved. |
Persistent Identifier | http://hdl.handle.net/10722/177683 |
ISSN | 2023 Impact Factor: 3.8 2023 SCImago Journal Rankings: 4.583 |
SSRN | |
ISI Accession Number ID | |
References |
DC Field | Value | Language |
---|---|---|
dc.contributor.author | Cheung, YW | en_US |
dc.contributor.author | Wong, CYP | en_US |
dc.date.accessioned | 2012-12-19T09:39:31Z | - |
dc.date.available | 2012-12-19T09:39:31Z | - |
dc.date.issued | 2000 | en_US |
dc.identifier.citation | Journal Of International Economics, 2000, v. 51 n. 2, p. 401-419 | en_US |
dc.identifier.issn | 0022-1996 | en_US |
dc.identifier.uri | http://hdl.handle.net/10722/177683 | - |
dc.description.abstract | We report some findings from a survey of practitioners in the interbank foreign exchange markets in Hong Kong, Tokyo, and Singapore. The respondents contend that liquidity and market uncertainty are two important reasons for deviating from the conventional interbank bid-ask spread. A strong customer base is perceived as a source of competitive advantage for large participants. Most respondents agree that non-fundamental factors have pervasive impacts on short-run exchange rates. Speculation is believed to increase volatility but also improve market liquidity and efficiency. Despite their claim that intervention exacerbates volatility, more than one-half of the respondents suggest official intervention helps restore equilibrium. (C) 2000 Elsevier Science B.V. All rights reserved. | en_US |
dc.language | eng | en_US |
dc.publisher | Elsevier BV. The Journal's web site is located at http://www.elsevier.com/locate/jie | en_US |
dc.relation.ispartof | Journal of International Economics | en_US |
dc.subject | Exchange Rate Dynamics | en_US |
dc.subject | Foreign Exchange Traders | en_US |
dc.subject | Microstructure | en_US |
dc.subject | Survey Study | en_US |
dc.title | A survey of market practitioners' views on exchange rate dynamics | en_US |
dc.type | Article | en_US |
dc.identifier.email | Cheung, YW: cheung@econ.hku.hk | en_US |
dc.identifier.email | Wong, CYP: ypclemw@hku.hk | en_US |
dc.identifier.authority | Cheung, YW=rp01055 | en_US |
dc.identifier.authority | Wong, CYP=rp01109 | en_US |
dc.description.nature | link_to_subscribed_fulltext | en_US |
dc.identifier.doi | 10.1016/S0022-1996(99)00009-4 | en_US |
dc.identifier.scopus | eid_2-s2.0-0033938149 | en_US |
dc.relation.references | http://www.scopus.com/mlt/select.url?eid=2-s2.0-0033938149&selection=ref&src=s&origin=recordpage | en_US |
dc.identifier.volume | 51 | en_US |
dc.identifier.issue | 2 | en_US |
dc.identifier.spage | 401 | en_US |
dc.identifier.epage | 419 | en_US |
dc.identifier.isi | WOS:000087811500009 | - |
dc.publisher.place | Netherlands | en_US |
dc.identifier.ssrn | 147258 | - |
dc.identifier.scopusauthorid | Cheung, YW=7202111421 | en_US |
dc.identifier.scopusauthorid | Wong, CYP=8902584200 | en_US |
dc.identifier.issnl | 0022-1996 | - |