Profits and losses from currency intervention
نویسندگان
چکیده
منابع مشابه
Time-Varying Foreign-Exchange Risk and Central Bank Intervention: Estimating Profits from Intervention and Speculation
Failure to risk-adjust estimates of profits, from central-bank foreign exchange intervention or from private speculation, can have large effects on the estimated profits, including changing signs. Many choices arise in deciding how to adjust profits for risk. The time period over which a market model is fit has mixed effects on calendar-year profits; variations in profits across calendar years ...
متن کاملWhy Are Losses Less Persistent Than Profits? Curtailments vs. Conservatism
ABSTRACT: It is well documented that losses are less persistent than profits and that stock prices anticipate the lower persistence of losses. Yet the underlying explanation for these results is unclear. One explanation lies in the abandonment option, whereby firms with losses are more likely to curtail operations (e.g., Hayn 1995). Another explanation involves timely loss recognition stemming ...
متن کاملWhy Are Losses Less Persistent Than Profits? Curtailments versus Conservatism
It is well documented that losses are less persistent than profits and that stock prices anticipate the lower persistence of losses. Yet the underlying explanation for these results is unclear. One explanation lies in the abandonment option, whereby firms with losses are more likely to curtail operations (e.g., Hayn 1995). Another explanation involves timely loss recognition stemming from conse...
متن کاملThere's No Free Lunch, Even Using Bitcoin: Tracking the Popularity and Profits of Virtual Currency Scams
We present the first empirical analysis of Bitcoin-based scams: operations established with fraudulent intent. By amalgamating reports gathered by voluntary vigilantes and tracked in online forums, we identify 192 scams and categorize them into four groups: Ponzi schemes, mining scams, scam wallets and fraudulent exchanges. In 21% of the cases, we also found the associated Bitcoin addresses, wh...
متن کاملCurrency ::union:: and Bilateral Trade: Evidence from OIC Countries
In recent years, there has been an increasing interest in currency :union:s internationally. The formation of currency :union: in Organization of Islamic Cooperation (OIC) has drawn much attention of Islamic countries. This paper aims to investigate the effect of currency :union: formation for trade among 49 Islamic countries over the period 1990-2012 by OCA and Augmented Gravity Model (AGM). T...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: International Review of Economics & Finance
سال: 2013
ISSN: 1059-0560
DOI: 10.1016/j.iref.2012.08.013