the economy's dependence on oil revenues and derivatives of these products make the country's economy heavily influenced by the volatility and instability of the pricing of these products. therefore, it seems necessary to develop non-oil exports. this paper examines the causality relation and the effect of foreign direct investment, economic openness and real exchange rate on non-oil ...

This paper aims to determine the impact of dividend policy on stock price volatility by taking firms listed on Tehran stock exchange.  A sample of 68 listed companies from Tehran stock exchange is examined for a period from 2001 to 2012.  The estimation is based on cross-sectional ordinary least square regression analysis to find the relationship between share price volatility and dividend poli...

This paper provides a complete analytical characterization of the positive and normative effects of alternative exchange rate regimes in a simple two-country sticky-price dynamic general equilibrium model with money, technology, and government spending shocks. A central question addressed is whether fixing the exchange rate prevents macroeconomic adjustment in relative prices from occurring, in...

This paper investigates the relationship between exchange rate uncertainty and the location of US foreign direct investment in Europe. We adopt a mean-variance approach to the standard q theory of investment in order to highlight the impact of exchange rate volatility and exchange rate correlation on investment. A firm concerned with both maximizing profits and minimizing risk would exploit any...

The inability to reconcile observed levels of foreign exchange rate volatility with predictions derived from rational expectations models represents one of the most persistent challenges in international finance. This paper shows that such excess volatility puzzles arise from informational assumptions by contrasting exchange rate equilibria under different expectational paradigms: rational expe...

developing countries, including iran, have a high degree of volatility of macroeconomic variables. fluctuations inex change rate, bank interest rate and inflation rate can create insecure environment for in vestorsin iran. hence, this study examined the impact of macroeconomic variables on the tobin’s q index for the sugar companies of tehran stock exchange (tse) during the period between1380-1...

This paper studies the role of exchange rate volatility in determining the UK’s real imports from three major developing countries Brazil, China, and South Africa. The paper contributes to the literature by investigating the third country effect and also by analyzing the impact of the current financial crisis on the relationship between exchange rate volatility and UK imports. This paper furthe...