The Microstructure Approach To Exchange Rates (MIT Press) Download Free (EPUB, PDF)
Historically, the fields of exchange-rate economics and microstructure finance have progressed independently of each other. Recent interaction, however, has given rise to a microstructure approach to exchange rates. This book focuses on the economics of financial information and how microstructure tools help to clarify the types of information most relevant to exchange rates.The microstructure approach views exchange rates from the perspective of the trading room, the place where exchange rates are actually determined. Emphasizing information economics over institutional issues, the approach departs from three unrealistic assumptions common to previous approaches: that all information relevant to exchange rates is publicly available, that all market participants are alike in their goals or in how they view information, and that how trading is organized is inconsequential for exchange rates. The book shows how exchange-rate behavior previously thought to be particularly puzzling can be explained using the microstructure approach. It contains a combination of theoretical and empirical work.
File Size: 3074 KB
Print Length: 345 pages
Publisher: The MIT Press (January 20, 2006)
Publication Date: January 20, 2006
Sold by: Digital Services LLC
Language: English
ASIN: B008COBAI2
Text-to-Speech: Enabled
X-Ray: Not Enabled
Word Wise: Not Enabled
Lending: Not Enabled
Enhanced Typesetting: Not Enabled
Best Sellers Rank: #1,020,814 Paid in Kindle Store (See Top 100 Paid in Kindle Store) #345 in Kindle Store > Kindle eBooks > Business & Money > International > Foreign Exchange #599 in Books > Business & Money > International > Foreign Exchange #1355 in Kindle Store > Kindle eBooks > Business & Money > Economics > Economic Conditions
This book changed the way I trade FX and the way I look at markets in general. Though it was above my education level the author wrote concisely and clearly so that I understood the concepts well enough to move forward in my own studies. Wonderful book.
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