Publisher's Synopsis
Excerpt from Exchange Risk: A Conceptual Framework and Measurement
The relevancy of exchange risk with regard to different subjects in international finance is discussed in section 2. In section 3, the-different views of the structure of the international capital market, and thus on exchange risk are presented. Two possible sources for exchange risk, independent monetary policy and different rates of -diffusion of changes in relative prices, are discussed in section 4. A model for the measurement of exchange risk is presented in section 5. The Interest Rates Paritv Theorem is discussed in Section 6.
Section 7 concludes this paper by discussing some suggestions for further research.
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