Welfare Effects of Transparency in Foreign Exchange Markets : The Role of Hedging Opportunities

The Role of Hedging Opportunities

Welfare Effects of Transparency in Foreign Exchange Markets : The Role of Hedging Opportunities
This paper studies the impact of enhanced transparency on risk sharing opportunities in the foreign exchange market and the associated implications for ex ante welfare. Transparency is measured in this model by the informational content of publicly observable signals about exchange rate developments. We find that in this model more transparency... READ MORE...

Publication date: December 2002
ISBN 9781451875188
$15.00

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