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Monday, June 05, 2006


David Wiczer

Their second normative recommendation, that the route taken for the intervention matters, seems to have another interesting implication. Does it suggest about semi-strong form versus strong form efficiency in foreign currency markets?
Also, I wonder if the microstructure of futures markets could be incorporated as well. Their rational expectations equilibrium of spot rates has lagged and led time subscripts to show the persistence, but how many periods might be relevant? And could forward rates be modeled to capture uncertainty from overzealous central bank intervention in ways that do not necessarily play into the spot rate. A change in the futures premium, perhaps?

pandora jewellery

Interesting perspective on India ... thanks!

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