| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP4725 |
| DP4725 Banks' Loan Portfolio and the Monetary Transmission Mechanism | |
| Wouter Den Haan; Steven Sumner; Guy Yamashiro | |
| 发表日期 | 2004-11-23 |
| 出版年 | 2004 |
| 语种 | 英语 |
| 摘要 | This Paper analyses the behaviour and motivation of fund managers in foreign exchange markets reflected in questionnaire evidence. We find that fund managers and FX dealers differ significantly. Fund managers rely more on fundamentals, basically due to their longer forecasting horizons, and reject non-fundamental influences on exchange rates more than FX dealers. Neither can fund managers be considered as pure fundamentalists, however. Non-fundamentalist positions markedly influence short-term decision-making. They inspire ambivalent views about market imperfections and these views seem to become stronger over time. This latter change counterbalances the strengthening fundamental influences resulting from the rise of fund managers. |
| 主题 | Financial Economics |
| 关键词 | Foreign exchange Market microstructure Fund management Fundamentals |
| URL | https://cepr.org/publications/dp4725 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/533643 |
| 推荐引用方式 GB/T 7714 | Wouter Den Haan,Steven Sumner,Guy Yamashiro. DP4725 Banks' Loan Portfolio and the Monetary Transmission Mechanism. 2004. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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