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The Microstructure Approach to Exchange Rates by Richard K. Lyons (Paperback, 2006)

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About this product

Product Information

Historically, the fields of exchange-rate economics and microstructure finance have progressed independently of each other. Recent interaction, however, has given rise to a microstructure approach to exchange rates. This book focuses on the economics of financial information and how microstructure tools help to clarify the types of information most relevant to exchange rates. The microstructure approach views exchange rates from the perspective of the trading room, the place where exchange rates are actually determined. Emphasizing information economics over institutional issues, the approach departs from three unrealistic assumptions common to previous approaches: that all information relevant to exchange rates is publicly available, that all market participants are alike in their goals or in how they view information, and that how trading is organized is inconsequential for exchange rates. The book shows how exchange-rate behavior previously thought to be particularly puzzling can be explained using the microstructure approach. It contains a combination of theoretical and empirical work.

Product Identifiers

Publisher
MIT Press Ltd
ISBN-13
9780262622059
eBay Product ID (ePID)
95722794

Product Key Features

Author
Richard K. Lyons
Publication Name
The Microstructure Approach to Exchange Rates
Format
Paperback
Language
English
Subject
Economics
Publication Year
2006
Type
Textbook
Number of Pages
346 Pages

Additional Product Features

Title_Author
Richard K. Lyons
Country/Region of Manufacture
United States

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