The Exchange Rate in a Behavioral Finance Framework / / Marianna Grimaldi, Paul De Grauwe.
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 base...
Saved in:
Superior document: | Title is part of eBook package: De Gruyter Princeton University Press eBook-Package Backlist 2000-2013 |
---|---|
VerfasserIn: | |
Place / Publishing House: | Princeton, NJ : : Princeton University Press, , [2018] ©2006 |
Year of Publication: | 2018 |
Language: | English |
Online Access: | |
Physical Description: | 1 online resource |
Tags: |
Add Tag
No Tags, Be the first to tag this record!
|
id |
9780691186993 |
---|---|
ctrlnum |
(DE-B1597)501776 (OCoLC)1076394076 |
collection |
bib_alma |
record_format |
marc |
spelling |
De Grauwe, Paul, author. aut http://id.loc.gov/vocabulary/relators/aut The Exchange Rate in a Behavioral Finance Framework / Marianna Grimaldi, Paul De Grauwe. Princeton, NJ : Princeton University Press, [2018] ©2006 1 online resource text txt rdacontent computer c rdamedia online resource cr rdacarrier text file PDF rda Frontmatter -- Contents -- Preface -- 1. The Need for a New Paradigm -- 2. A Simple Behavioral Finance Model of the Exchange Rate -- 3. A Slightly More Complex Behavioral Finance Model -- 4. Limits to Arbitrage -- 5. Changes in the Perception of Risk -- 6. Modeling the Supply of Foreign Assets and the Current Account -- 7. Risk Appetite in an Evolutionary Perspective -- 8. The Empirical Evidence -- 9. Official Interventions in the Foreign Exchange Markets -- 10. Chaos in the Foreign Exchange Markets -- 11. Conclusion -- References -- Index restricted access http://purl.org/coar/access_right/c_16ec online access with authorization star 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 why large exchange-rate changes and volatility clustering occur. It also has important implications for understanding how the news affects the exchange rate. De Grauwe and Grimaldi conclude that news in fundamentals has an unpredictable effect on the exchange rate. Sometimes, they maintain, it alters the exchange rate considerably; at other times it has no effectwhatsoever. The authors also use their model to analyze the effects of official interventions in the foreign exchange market. They show that simple intervention rules of the "leaning-against-the-wind" variety can be effective in eliminating bubbles and crashes in the exchange rate. They further demonstrate how, quite paradoxically, by intervening in the foreign exchange market the central bank makes the market look more efficient. Clear and comprehensive, The Exchange Rate in a Behavioral Finance Framework is a must-have for analysts in foreign exchange markets as well as students of international finance and economics. Mode of access: Internet via World Wide Web. In English. Description based on online resource; title from PDF title page (publisher's Web site, viewed 30. Aug 2021) Foreign exchange rates Political aspects. Foreign exchange rates Psychological aspects. BUSINESS & ECONOMICS / Foreign Exchange. bisacsh Grimaldi, Marianna, author. aut http://id.loc.gov/vocabulary/relators/aut Title is part of eBook package: De Gruyter Princeton University Press eBook-Package Backlist 2000-2013 9783110442502 https://doi.org/10.1515/9780691186993?locatt=mode:legacy https://www.degruyter.com/isbn/9780691186993 Cover https://www.degruyter.com/cover/covers/9780691186993.jpg |
language |
English |
format |
eBook |
author |
De Grauwe, Paul, De Grauwe, Paul, Grimaldi, Marianna, |
spellingShingle |
De Grauwe, Paul, De Grauwe, Paul, Grimaldi, Marianna, The Exchange Rate in a Behavioral Finance Framework / Frontmatter -- Contents -- Preface -- 1. The Need for a New Paradigm -- 2. A Simple Behavioral Finance Model of the Exchange Rate -- 3. A Slightly More Complex Behavioral Finance Model -- 4. Limits to Arbitrage -- 5. Changes in the Perception of Risk -- 6. Modeling the Supply of Foreign Assets and the Current Account -- 7. Risk Appetite in an Evolutionary Perspective -- 8. The Empirical Evidence -- 9. Official Interventions in the Foreign Exchange Markets -- 10. Chaos in the Foreign Exchange Markets -- 11. Conclusion -- References -- Index |
author_facet |
De Grauwe, Paul, De Grauwe, Paul, Grimaldi, Marianna, Grimaldi, Marianna, Grimaldi, Marianna, |
author_variant |
g p d gp gpd g p d gp gpd m g mg |
author_role |
VerfasserIn VerfasserIn VerfasserIn |
author2 |
Grimaldi, Marianna, Grimaldi, Marianna, |
author2_variant |
m g mg |
author2_role |
VerfasserIn VerfasserIn |
author_sort |
De Grauwe, Paul, |
title |
The Exchange Rate in a Behavioral Finance Framework / |
title_full |
The Exchange Rate in a Behavioral Finance Framework / Marianna Grimaldi, Paul De Grauwe. |
title_fullStr |
The Exchange Rate in a Behavioral Finance Framework / Marianna Grimaldi, Paul De Grauwe. |
title_full_unstemmed |
The Exchange Rate in a Behavioral Finance Framework / Marianna Grimaldi, Paul De Grauwe. |
title_auth |
The Exchange Rate in a Behavioral Finance Framework / |
title_alt |
Frontmatter -- Contents -- Preface -- 1. The Need for a New Paradigm -- 2. A Simple Behavioral Finance Model of the Exchange Rate -- 3. A Slightly More Complex Behavioral Finance Model -- 4. Limits to Arbitrage -- 5. Changes in the Perception of Risk -- 6. Modeling the Supply of Foreign Assets and the Current Account -- 7. Risk Appetite in an Evolutionary Perspective -- 8. The Empirical Evidence -- 9. Official Interventions in the Foreign Exchange Markets -- 10. Chaos in the Foreign Exchange Markets -- 11. Conclusion -- References -- Index |
title_new |
The Exchange Rate in a Behavioral Finance Framework / |
title_sort |
the exchange rate in a behavioral finance framework / |
publisher |
Princeton University Press, |
publishDate |
2018 |
physical |
1 online resource |
contents |
Frontmatter -- Contents -- Preface -- 1. The Need for a New Paradigm -- 2. A Simple Behavioral Finance Model of the Exchange Rate -- 3. A Slightly More Complex Behavioral Finance Model -- 4. Limits to Arbitrage -- 5. Changes in the Perception of Risk -- 6. Modeling the Supply of Foreign Assets and the Current Account -- 7. Risk Appetite in an Evolutionary Perspective -- 8. The Empirical Evidence -- 9. Official Interventions in the Foreign Exchange Markets -- 10. Chaos in the Foreign Exchange Markets -- 11. Conclusion -- References -- Index |
isbn |
9780691186993 9783110442502 |
callnumber-first |
H - Social Science |
callnumber-subject |
HG - Finance |
callnumber-label |
HG3821 |
callnumber-sort |
HG 43821 G76 42006EB |
url |
https://doi.org/10.1515/9780691186993?locatt=mode:legacy https://www.degruyter.com/isbn/9780691186993 https://www.degruyter.com/cover/covers/9780691186993.jpg |
illustrated |
Not Illustrated |
dewey-hundreds |
300 - Social sciences |
dewey-tens |
330 - Economics |
dewey-ones |
332 - Financial economics |
dewey-full |
332.4/56 |
dewey-sort |
3332.4 256 |
dewey-raw |
332.4/56 |
dewey-search |
332.4/56 |
doi_str_mv |
10.1515/9780691186993?locatt=mode:legacy |
oclc_num |
1076394076 |
work_keys_str_mv |
AT degrauwepaul theexchangerateinabehavioralfinanceframework AT grimaldimarianna theexchangerateinabehavioralfinanceframework AT degrauwepaul exchangerateinabehavioralfinanceframework AT grimaldimarianna exchangerateinabehavioralfinanceframework |
status_str |
n |
ids_txt_mv |
(DE-B1597)501776 (OCoLC)1076394076 |
carrierType_str_mv |
cr |
hierarchy_parent_title |
Title is part of eBook package: De Gruyter Princeton University Press eBook-Package Backlist 2000-2013 |
is_hierarchy_title |
The Exchange Rate in a Behavioral Finance Framework / |
container_title |
Title is part of eBook package: De Gruyter Princeton University Press eBook-Package Backlist 2000-2013 |
author2_original_writing_str_mv |
noLinkedField noLinkedField |
_version_ |
1770176300718227456 |
fullrecord |
<?xml version="1.0" encoding="UTF-8"?><collection xmlns="http://www.loc.gov/MARC21/slim"><record><leader>04797nam a22007215i 4500</leader><controlfield tag="001">9780691186993</controlfield><controlfield tag="003">DE-B1597</controlfield><controlfield tag="005">20210830012106.0</controlfield><controlfield tag="006">m|||||o||d||||||||</controlfield><controlfield tag="007">cr || ||||||||</controlfield><controlfield tag="008">210830t20182006nju fo d z eng d</controlfield><datafield tag="020" ind1=" " ind2=" "><subfield code="a">9780691186993</subfield></datafield><datafield tag="024" ind1="7" ind2=" "><subfield code="a">10.1515/9780691186993</subfield><subfield code="2">doi</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(DE-B1597)501776</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(OCoLC)1076394076</subfield></datafield><datafield tag="040" ind1=" " ind2=" "><subfield code="a">DE-B1597</subfield><subfield code="b">eng</subfield><subfield code="c">DE-B1597</subfield><subfield code="e">rda</subfield></datafield><datafield tag="041" ind1="0" ind2=" "><subfield code="a">eng</subfield></datafield><datafield tag="044" ind1=" " ind2=" "><subfield code="a">nju</subfield><subfield code="c">US-NJ</subfield></datafield><datafield tag="050" ind1=" " ind2="4"><subfield code="a">HG3821</subfield><subfield code="b">.G76 2006eb</subfield></datafield><datafield tag="072" ind1=" " ind2="7"><subfield code="a">BUS028000</subfield><subfield code="2">bisacsh</subfield></datafield><datafield tag="082" ind1="0" ind2="4"><subfield code="a">332.4/56</subfield><subfield code="2">23</subfield></datafield><datafield tag="100" ind1="1" ind2=" "><subfield code="a">De Grauwe, Paul, </subfield><subfield code="e">author.</subfield><subfield code="4">aut</subfield><subfield code="4">http://id.loc.gov/vocabulary/relators/aut</subfield></datafield><datafield tag="245" ind1="1" ind2="4"><subfield code="a">The Exchange Rate in a Behavioral Finance Framework /</subfield><subfield code="c">Marianna Grimaldi, Paul De Grauwe.</subfield></datafield><datafield tag="264" ind1=" " ind2="1"><subfield code="a">Princeton, NJ : </subfield><subfield code="b">Princeton University Press, </subfield><subfield code="c">[2018]</subfield></datafield><datafield tag="264" ind1=" " ind2="4"><subfield code="c">©2006</subfield></datafield><datafield tag="300" ind1=" " ind2=" "><subfield code="a">1 online resource</subfield></datafield><datafield tag="336" ind1=" " ind2=" "><subfield code="a">text</subfield><subfield code="b">txt</subfield><subfield code="2">rdacontent</subfield></datafield><datafield tag="337" ind1=" " ind2=" "><subfield code="a">computer</subfield><subfield code="b">c</subfield><subfield code="2">rdamedia</subfield></datafield><datafield tag="338" ind1=" " ind2=" "><subfield code="a">online resource</subfield><subfield code="b">cr</subfield><subfield code="2">rdacarrier</subfield></datafield><datafield tag="347" ind1=" " ind2=" "><subfield code="a">text file</subfield><subfield code="b">PDF</subfield><subfield code="2">rda</subfield></datafield><datafield tag="505" ind1="0" ind2="0"><subfield code="t">Frontmatter -- </subfield><subfield code="t">Contents -- </subfield><subfield code="t">Preface -- </subfield><subfield code="t">1. The Need for a New Paradigm -- </subfield><subfield code="t">2. A Simple Behavioral Finance Model of the Exchange Rate -- </subfield><subfield code="t">3. A Slightly More Complex Behavioral Finance Model -- </subfield><subfield code="t">4. Limits to Arbitrage -- </subfield><subfield code="t">5. Changes in the Perception of Risk -- </subfield><subfield code="t">6. Modeling the Supply of Foreign Assets and the Current Account -- </subfield><subfield code="t">7. Risk Appetite in an Evolutionary Perspective -- </subfield><subfield code="t">8. The Empirical Evidence -- </subfield><subfield code="t">9. Official Interventions in the Foreign Exchange Markets -- </subfield><subfield code="t">10. Chaos in the Foreign Exchange Markets -- </subfield><subfield code="t">11. Conclusion -- </subfield><subfield code="t">References -- </subfield><subfield code="t">Index</subfield></datafield><datafield tag="506" ind1="0" ind2=" "><subfield code="a">restricted access</subfield><subfield code="u">http://purl.org/coar/access_right/c_16ec</subfield><subfield code="f">online access with authorization</subfield><subfield code="2">star</subfield></datafield><datafield tag="520" ind1=" " ind2=" "><subfield code="a">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 why large exchange-rate changes and volatility clustering occur. It also has important implications for understanding how the news affects the exchange rate. De Grauwe and Grimaldi conclude that news in fundamentals has an unpredictable effect on the exchange rate. Sometimes, they maintain, it alters the exchange rate considerably; at other times it has no effectwhatsoever. The authors also use their model to analyze the effects of official interventions in the foreign exchange market. They show that simple intervention rules of the "leaning-against-the-wind" variety can be effective in eliminating bubbles and crashes in the exchange rate. They further demonstrate how, quite paradoxically, by intervening in the foreign exchange market the central bank makes the market look more efficient. Clear and comprehensive, The Exchange Rate in a Behavioral Finance Framework is a must-have for analysts in foreign exchange markets as well as students of international finance and economics.</subfield></datafield><datafield tag="538" ind1=" " ind2=" "><subfield code="a">Mode of access: Internet via World Wide Web.</subfield></datafield><datafield tag="546" ind1=" " ind2=" "><subfield code="a">In English.</subfield></datafield><datafield tag="588" ind1="0" ind2=" "><subfield code="a">Description based on online resource; title from PDF title page (publisher's Web site, viewed 30. Aug 2021)</subfield></datafield><datafield tag="650" ind1=" " ind2="0"><subfield code="a">Foreign exchange rates</subfield><subfield code="x">Political aspects.</subfield></datafield><datafield tag="650" ind1=" " ind2="0"><subfield code="a">Foreign exchange rates</subfield><subfield code="x">Psychological aspects.</subfield></datafield><datafield tag="650" ind1=" " ind2="7"><subfield code="a">BUSINESS & ECONOMICS / Foreign Exchange.</subfield><subfield code="2">bisacsh</subfield></datafield><datafield tag="700" ind1="1" ind2=" "><subfield code="a">Grimaldi, Marianna, </subfield><subfield code="e">author.</subfield><subfield code="4">aut</subfield><subfield code="4">http://id.loc.gov/vocabulary/relators/aut</subfield></datafield><datafield tag="773" ind1="0" ind2="8"><subfield code="i">Title is part of eBook package:</subfield><subfield code="d">De Gruyter</subfield><subfield code="t">Princeton University Press eBook-Package Backlist 2000-2013</subfield><subfield code="z">9783110442502</subfield></datafield><datafield tag="856" ind1="4" ind2="0"><subfield code="u">https://doi.org/10.1515/9780691186993?locatt=mode:legacy</subfield></datafield><datafield tag="856" ind1="4" ind2="0"><subfield code="u">https://www.degruyter.com/isbn/9780691186993</subfield></datafield><datafield tag="856" ind1="4" ind2="2"><subfield code="3">Cover</subfield><subfield code="u">https://www.degruyter.com/cover/covers/9780691186993.jpg</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">978-3-11-044250-2 Princeton University Press eBook-Package Backlist 2000-2013</subfield><subfield code="c">2000</subfield><subfield code="d">2013</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">EBA_BACKALL</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">EBA_CL_LAEC</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">EBA_EBACKALL</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">EBA_EBKALL</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">EBA_ECL_LAEC</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">EBA_EEBKALL</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">EBA_ESSHALL</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">EBA_ESTMALL</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">EBA_PPALL</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">EBA_SSHALL</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">EBA_STMALL</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">GBV-deGruyter-alles</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">PDA11SSHE</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">PDA12STME</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">PDA13ENGE</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">PDA17SSHEE</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">PDA18STMEE</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">PDA5EBK</subfield></datafield></record></collection> |