What Exactly is 'Bad News' in Foreign Exchange Markets?: Evidence from Latin American Markets
This paper asks whether the 'leverage effect -as defined by Black (1976) for stock markets- is also a characteristic of foreign exchange markets. The study focuses on five Latin American emerging markets which have adopted a floating exchange regime. It finds that the response of exchange rates...
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| Autores principales: | , |
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| Lenguaje: | English |
| Publicado: |
Instituto de Economía, Pontificia Universidad Católica de Chile
2008
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| Acceso en línea: | http://www.scielo.cl/scielo.php?script=sci_arttext&pid=S0717-68212008000200001 |
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