| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP6556 |
| DP6556 When is Bargaining Successful? Negotiated Division of Tournament Prizes | |
| David Goldreich; Lukasz Pomorski | |
| 发表日期 | 2007-11-09 |
| 出版年 | 2007 |
| 语种 | 英语 |
| 摘要 | We formulate a market microstructure model of exchange determination we employ to investigate the impact of informed trading on exchange rates and on foreign exchange (FX) market conditions. With our formulation we show how strategic informed agents influence exchange rates via both portfolio-balance and information effects. We outline the connection which exists between the private value of information, market efficiency, liquidity and exchange rate volatility. Our model is also consistent with recent empirical research on the microstructure of FX markets. |
| 主题 | International Macroeconomics |
| 关键词 | Private information Order flow Foreign exchange micro structure Exchange rate dynamics |
| URL | https://cepr.org/publications/dp6556 |
| 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/535395 |
| 推荐引用方式 GB/T 7714 | David Goldreich,Lukasz Pomorski. DP6556 When is Bargaining Successful? Negotiated Division of Tournament Prizes. 2007. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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