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The Microstructure Approach to Exchange Rates

by Richard K. Lyons
$3.90
Compare to estimated retail price: S$70.00  

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The Microstructure Approach to Exchange Rates
The Microstructure Approach to Exchange Rates

Exchange rates through the trader’s real lens

This is a smart pick if you want exchange rates explained beyond neat textbook theory. Lyons brings you into the trading room and shows how information, behavior, and market structure actually move prices. Readers who like rigorous but revealing economics often find it satisfying because it makes supposedly puzzling currency movements feel much more understandable.

Note: While we do our best to ensure the accuracy of cover images, ISBNs may at times be reused for different editions of the same title which may hence appear as a different cover.

The Microstructure Approach to Exchange Rates

by Richard K. Lyons
$3.90
Compare to estimated retail price: S$70.00  

The item you've got your eye on is secondhand. You probably already know that, but just in case!

The estimated retail price shown next to any listed item represents the first-hand prices we've seen elsewhere, or the estimated original retail price of a comparable item of the same quality, construction and material offered elsewhere in new condition.

Condition guide

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ISBN: 9780262622059
Authors: Richard K. Lyons
Publisher: The MIT Press
Date of Publication: 2006-01-20
Format: Paperback
Related Collections: Economics, Business
Related Topics: Finance, Money, Technology
Goodreads rating: 3.09
(rated by 11 readers)

Description

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

Exchange rates through the trader’s real lens

This is a smart pick if you want exchange rates explained beyond neat textbook theory. Lyons brings you into the trading room and shows how information, behavior, and market structure actually move prices. Readers who like rigorous but revealing economics often find it satisfying because it makes supposedly puzzling currency movements feel much more understandable.

Note: While we do our best to ensure the accuracy of cover images, ISBNs may at times be reused for different editions of the same title which may hence appear as a different cover.