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Flexible Exchange Rates, Forward Markets, and the Level of Trade
4 references·15 citing·49 second hop
Flexible Exchange Rates, Forward Markets, and the Level of Trade (1976)Flexible Exchange Rates, Forward Markets,…International Trade and the Forward Exchange Market (2016)International Trade and the F…On the Theory of the Firm in an Economy with Incomplete Markets (1974)On the Theory of the Firm in …Theory of the Firm Facing Uncertain Demand (1972)Theory of the Firm Facing Unc…On the Optimality of the Stock Market Allocation of Investment (1972)On the Optimality of the Stoc…Impact of exchange rates on ASEAN's trade in the era of global value chains: An empirical assessment (2019)Impact of exchange rates on A…Exchange rate volatility and India's cross-border trade: A pooled mean group and nonlinear cointegration approach (2018)Exchange rate volatility and …The dynamic effect of exchange-rate volatility on Turkish exports: Parsimonious error-correction model approach (2015)The dynamic effect of exchang…Exchange rate volatility and exports: a firm-level analysis (2008)Exchange rate volatility and …Pricing to market in European automobile exports to OECD countries: a panel data approach (2001)Pricing to market in European…Corporate Risk Management as a Lever for Shareholder Value Creation (2001)Corporate Risk Management as …Endogenous Symmetry of Shocks in a Monetary Union (1999)Endogenous Symmetry of Shocks…Import and hedging uncertainty in international trade (1995)Import and hedging uncertaint…Exchange Rate Volatility and International Prices (1991)Exchange Rate Volatility and …The effects of exchange rate trends and volatility on export prices: Industry examples from Japan, Germany, and the United States (1989)The effects of exchange rate …Forward markets, currency options and the hedging of foreign exchange risk (1988)Forward markets, currency opt…Exchange-rate volatility, international trade, and resource allocation: A perspective on recent research (1986)Exchange-rate volatility, int…The effect of forward exchange on spot-rate volatility under risk and rational expectations (1984)The effect of forward exchang…Commodity Futures and Spot Price Determination and Hedging in Capital Market Equilibrium (1979)Commodity Futures and Spot Pr…The Microeconomics of the Firm in an Open Economy (1977)The Microeconomics of the Fir…Liquidity Preference as Behavior Towards Risk (1958)CAPITAL ASSET PRICES: A THEORY OF MARKET EQUILIBRIUM UNDER CONDITIONS OF RISK* (1964)Models of Market Organization with Imperfect Information: A Survey (1973)Competitive Firm and the Theory of Input Demand under Price Uncertainty (1974)Risk Aversion in the Small and in the Large (1976)Duopoly information equilibrium: Cournot and Bertrand (1989)A Theory of Optimum Currency Areas (1961)The Dynamic Effects of Aggregate Demand and Supply Disturbances (1988)The Endogenity of the Optimum Currency Area Criteria (1998)Monetary Union, Trade Integration, and Business Cycles in 19th Century Europe (2005)Trade integration and synchronization of shocks* (2005)The transmission of business cycles Implications for EMU enlargement1 (2008)The Theory of Value (1892)The Theory of Syndicates (1968)Existence of Equilibrium of Plans, Prices, and Price Expectations in a Sequence of Markets (1972)Monopolistic Competition in a Large Economy with Differentiated Commodities (1979)Stockholder Unanimity in Making Production and Financial Decisions (1980)The Importance of Bundling in a Gorman-Lancaster Model of Earnings (1987)Uncertainty and Optimal Consumption Decisions (1971)UNCERTAINTY, EXCHANGE RISK, AND THE LEVEL OF INTERNATIONAL TRADE (1973)Exchange rate volatility and international trading strategy (1991)Does Exchange-Rate Stability Increase Trade and Welfare? (2000)International Portfolio Choice and Corporation Finance: A Synthesis (1983)Shareholder Benefits from Corporate International Diversification (1984)The Specification and Influence of Asset Markets (1984)Real Exchange Rate Variability: An Empirical Analysis of the Developing Countries Case (1986)Would International Currency Taxation and Currency Stabilisation in Developing Countries? (2001)On the theory of the competitive firm under price uncertainty (1971)Information, futures prices, and stabilizing speculation (1978)Exchange rate volatility and export growth in India: An ARDL bounds testing approach (2013)Principles of Corporate Finance (1940)Duality approaches to microeconomic theory (1978)International trade with forward-futures markets under exchange rate and price uncertainty (1986)The choice of hedging techniques and the characteristics of UK industrial firms (2000)A primer on the exposure of non-financial corporations to foreign exchange rate risk (2005)Asymmetry in exchange rate pass-through to consumer prices: Evidence from emerging and developing Asian countries (2018)THE VALUATION OF RISK ASSETS AND THE SELECTION OF RISKY INVESTMENTS IN STOCK PORTFOLIOS AND CAPITAL BUDGETS**This paper is another in a series of interrelated theoretical and statistical studies of corporate financial and investment policies being made under grants from the Rockefeller Foundation, and more recently the Ford Foundation, to the Harvard Business School. The generous support for this work is most gratefully acknowledged. The author is also much indebted to his colleagues Professors Bishop, Christenson, Kahr, Raiffa, and (especially) Schlaifer, for extensive discussion and commentary on an earlier draft of this paper; but responsibility for any errors or imperfections remains strictly his own.[Professor Sharpe's paper, “Capital Asset Prices: A Theory of Market Equilibrium Under Conditions of Risk” (Journal of Finance, September 1964) appeared after this paper was in final form and on its way to the printers. My first section, which parallels the first half of his paper (with corresponding conclusions), sets the algebraic framework for sections II, III and VI, (which have no counterpart in his paper) and for section IV on the equilibrium prices of risk assets, concerning which our results differ significantly for reasons which will be explored elsewhere. Sharpe does not take up the capital budgeting problem developed in section V below.] (1975)Theory of the firm: Managerial behavior, agency costs and ownership structure (1976)Risk premiums in futures markets: An empirical investigation (1984)Hedging with futures in an intertemporal portfolio context (1988)Forecasting commodity futures returns with stepwise regressions: Do commodity-specific factors help? (2020)Distribution of the Estimators for Autoregressive Time Series with a Unit Root (1979)Generalized autoregressive conditional heteroskedasticity (1986)Bounds testing approaches to the analysis of level relationships (2001)Asymmetric effect of extreme changes in the exchange rate volatility on the US imports (2020)Effects of Real Exchange Rate Volatility on Trade: Empirical Analysis of the United States Exports to BRICS (2022)Natural resources and environmental quality: Exploring the regional variations among Chinese provinces with a novel approach (2022)Investment Under Private Ownership: Optimality, Equilibrium and Stability (1974)Approaches to the Economics of Discrimination (2025)
this work references cited by second hop

References

  • 1972Theory of the Firm Facing Uncertain Demand550 cited
  • 2016International Trade and the Forward Exchange Market336 cited
  • 1972On the Optimality of the Stock Market Allocation of Investment207 cited
  • 1974On the Theory of the Firm in an Economy with Incomplete Markets196 cited

Cited by

  • 1979Commodity Futures and Spot Price Determination and Hedging in Capital Market Equilibrium92 cited
  • 1999Endogenous Symmetry of Shocks in a Monetary Union86 cited
  • 1988Forward markets, currency options and the hedging of foreign exchange risk66 cited
  • 1986Exchange-rate volatility, international trade, and resource allocation: A perspective on recent research65 cited
  • 2018Exchange rate volatility and India's cross-border trade: A pooled mean group and nonlinear cointegration approach51 cited
  • 1995Import and hedging uncertainty in international trade32 cited
  • 2008Exchange rate volatility and exports: a firm-level analysis31 cited
  • 1989The effects of exchange rate trends and volatility on export prices: Industry examples from Japan, Germany, and the United States31 cited
  • 1991Exchange Rate Volatility and International Prices30 cited
  • 2015The dynamic effect of exchange-rate volatility on Turkish exports: Parsimonious error-correction model approach

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28 cited
  • 2001Corporate Risk Management as a Lever for Shareholder Value Creation20 cited
  • 1984The effect of forward exchange on spot-rate volatility under risk and rational expectations16 cited
  • 2001Pricing to market in European automobile exports to OECD countries: a panel data approach15 cited
  • 1977The Microeconomics of the Firm in an Open Economy15 cited
  • 2019Impact of exchange rates on ASEAN's trade in the era of global value chains: An empirical assessment14 cited