exchange rate fluctuations
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2022 ◽  
Vol 158 (1) ◽  
Author(s):  
Peter Kugler ◽  
Samuel Reynard

AbstractThis paper characterizes the relationship between monetary aggregates, inflation and economic activity in Switzerland since the mid-1970s. Traditional forms of money demand and quantity theory relationships have remained stable over the whole period. Broad money excesses over trend values, accounting for a secular decline in interest rates and thus in trend velocity, have been followed by persistently higher inflation and output with the usual monetary policy transmission lags. Money and exchange rate fluctuations can explain the major inflation developments in Switzerland over the past four decades.


2021 ◽  
Author(s):  
Amir Hossein Eskorouchi

Nowadays, the selection and management of the optimal portfolio are the most primary fields of financial decision-making. Thereby, selecting a portfolio capable of providing the highest efficiency and, at the same time, the lowest investment risk has been turned into one of the most critical concerns among financial activists. However, in this selection, the two factors above are not the only determining ones. Various factors are affecting financial markets' behavior under different possible scenarios, which should be identified. In this paper, we examine the high sensitivity of the Iranian capital market to the exchange rate fluctuations in the different scenarios due to the lack of a unified view of the value of that rate among experts as one of the mentioned factors and obtain its value using Dempster–Shafer theory (DST). Then, a portfolio selection model that prefers stocks with higher ranks is proposed. Representative results of the real-life case study reveal that the submitted approach is productive and practically applicable.


Author(s):  
Tim J. Smith ◽  
Kyle T. Westra ◽  
Nathan L. Phipps

AbstractWe extend the normalized approach to constructing profit bridges proffered in a recent paper to examine the impact of currency exchange rate fluctuations within a multinational corporation. In doing so, we describe a profit bridge that would measure corporate performance distinct from that which would measure the performance of business units, including metrics for the impact of volume, price, variable cost, offering mix, and exchange rate changes.


2021 ◽  
Vol 7 (1) ◽  
Author(s):  
Kuan-Min Wang ◽  
Thanh-Binh Nguyen Thi ◽  
Yuan-Ming Lee

AbstractThis paper uses the panel data of 15 countries from 2009 to 2020 to construct the time-varying parameter panel vector error correction model for testing the hypothesis of dynamic hedging characteristics of gold on exchange rate. As the existing literature has never considered that the foreign exchange risk hedged by gold is dynamic, this study can fill the research gap in this area. The empirical results show that: First, gold can partly hedge against the depreciation of the currency in the long run; second, gold is unable to hedge against the risk of the exchange rate when considering dynamic hedging effects in the short run; third, when facing unexpected shocks, the impulse response shows that the gold returns have reversible reactions compared to exchange rate fluctuations; therefore, gold can regard as a safe haven for foreign exchange markets; Finally, the government, as well as investors should always be concerned about these dynamic risks and formulate effective hedging strategies to control the currency uncertainty.


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