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Currency Derivatives

Tomas Björk

in Arbitrage Theory in Continuous Time

Published in print:
2004
Published Online:
October 2005
ISBN:
9780199271269
eISBN:
9780191602849
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0199271267.003.0017
Subject:
Economics and Finance, Financial Economics

This chapter examines a model which incorporates not only the usual domestic equity market, but also a market for the exchange rate between the domestic currency and a fixed foreign currency, as well ... More


Why Do Emerging Economies Borrow in Foreign Currency?

Olivier Jeanne (ed.)

in Other People's Money: Debt Denomination and Financial Instability in Emerging Market Economies

Published in print:
2005
Published Online:
February 2013
ISBN:
9780226194554
eISBN:
9780226194578
Item type:
chapter
Publisher:
University of Chicago Press
DOI:
10.7208/chicago/9780226194578.003.0008
Subject:
Economics and Finance, International

This chapter addresses the following question: Why is it that emerging-market borrowers find it more difficult or less desirable to issue long-term debt denominated in domestic currency? To put it ... More


Playing Monopoly with the Devil: Dollarization and Domestic Currencies in Developing Countries

Manuel Hinds

Published in print:
2006
Published Online:
October 2013
ISBN:
9780300113303
eISBN:
9780300129779
Item type:
book
Publisher:
Yale University Press
DOI:
10.12987/yale/9780300113303.001.0001
Subject:
Economics and Finance, Macro- and Monetary Economics

Why should a developing country surrender its power to create money by adopting an international currency as its own? This book explores the currency problems that developing countries face and ... More


Disequilibria and Risk Premia: Argentina’s Experience During the 2000s from a Latin American Perspective

Gustavo Cañonero and Carlos Winograd

in Macroeconomics and Development: Roberto Frenkel and the Economics of Latin America

Published in print:
2016
Published Online:
September 2016
ISBN:
9780231175081
eISBN:
9780231541213
Item type:
chapter
Publisher:
Columbia University Press
DOI:
10.7312/columbia/9780231175081.003.0007
Subject:
Economics and Finance, Macro- and Monetary Economics

the chapter elaborates on the sources of risk that arise from the interaction of the goods and financial markets by revisiting Frenkel’s work on exchange rate and sovereign risk premia. The authors ... More


Must Original Sin Cause Macroeconomic Damnation?

Luis Felipe Céspedes, Roberto Chang, and AndrCés Velasco (eds)

in Other People's Money: Debt Denomination and Financial Instability in Emerging Market Economies

Published in print:
2005
Published Online:
February 2013
ISBN:
9780226194554
eISBN:
9780226194578
Item type:
chapter
Publisher:
University of Chicago Press
DOI:
10.7208/chicago/9780226194578.003.0003
Subject:
Economics and Finance, International

This chapter develops a simple general equilibrium open-economy model in which real exchange rates play a central role in the adjustment process, wages and prices are sticky in terms of domestic ... More


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