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A Model of Currency Substitution in Exchange Rate Determination, 1973-78 (Modele de substitution des monnaies dans la determination des taux de change, 1973-78) (Un modelo de sustitucion de monedas en la determinacion del tipo de cambio, 1973-78)
12 references·6 citing·45 second hop
A Model of Currency Substitution in Exchange Rate Determination, 1973-78 (Modele de substitution des monnaies dans la determination des taux de change, 1973-78) (Un modelo de sustitucion de monedas en la determinacion del tipo de cambio, 1973-78) (1979)A Model of Currency Substitution in Excha…Interest Rates and Inflation: The Message in the Entrails (2016)Interest Rates and Inflation:…Competitive Interest Payments on Bank Deposits and the Long-Run Demand for Money: Reply (2016)Competitive Interest Payments…The Monetary Approach to the Exchange Rate: Some Empirical Evidence (La theorie monetaire du taux de change: preuves empiriques) (El enfoque monetario del tipo de cambio: Algunas pruebas empiricas) (1978)The Monetary Approach to the …THE CURRENT STATUS OF THE CAPITAL ASSET PRICING MODEL (CAPM) (1978)THE CURRENT STATUS OF THE CAP…Currency Substitution, Flexible Exchange Rates, and Monetary Independence (1978)Currency Substitution, Flexib…THE FORWARD EXCHANGE RATE, EXPECTATIONS, AND DEMAND FOR MONEY: THE GERMAN HYPERINFLATION (1977)THE FORWARD EXCHANGE RATE, EX…Spot rates, forward rates and exchange market efficiency (1977)Spot rates, forward rates and…Demand for International Media of Exchange (1977)Demand for International Medi…Sharing rules and equilibrium in an international capital market under uncertainty (1976)Sharing rules and equilibrium…The Interest Rate Parity Theorem: A Reinterpretation (1973)The Interest Rate Parity Theo…Pitfalls in Financial Model-Building (1968)Pitfalls in Financial Model-B…Liquidity Preference as Behavior Towards Risk (1958)Liquidity Preference as Behav…Modeling Evaluation of Dollarization Economic Efficiency (2019)Modeling Evaluation of Dollar…SUBSTITUTION AMONG CURRENCIES: A PREFERRED HABITAT HYPOTHESIS (1988)SUBSTITUTION AMONG CURRENCIES…Currency substitution and the precautionary demand for money (1986)Currency substitution and the…Currency substitution and the demand for money: The argentine case, 1960–1976 (1986)Currency substitution and the…The transactions demand for money in a two-currency economy (1984)The transactions demand for m…Currency Substitution, Flexible Exchange Rates, and the Case for International Monetary Cooperation: Discussion of a Recent Proposal (Substitution de monnaies, taux de change flexibles et arguments en faveur de la cooperation monetaire internationale: examen d'une recente proposition) (Sustitucion de monedas, tipos de cambio flexibles y argumentos en favor de la cooperacion monetaria internacional: Discusion de una propuesta reciente) (1983)Currency Substitution, Flexib…Rational Expectations and the Theory of Price Movements (1961)Investigating Causal Relations by Econometric Models and Cross-spectral Methods (1969)Specification Tests in Econometrics (1978)Market Fundamentals versus Price-Level Bubbles: The First Tests (1980)Flexible Exchange Rates, Prices and the Role of ‘News’: Lessons from the 1970s (1982)Market efficiency and cointegration: an application to the sterling and deutschemark exchange markets (1989)Foundations of Economic Analysis. (1948)The Demand for Money: Some Theoretical and Empirical Results (1959)A Monetary History of the United States, 1867-1960 (1964)OUR NEW MONETARY STANDARD: THE MEASUREMENT AND EFFECTS OF PRICE UNCERTAINTY, 1880-1973 (1975)The demand for money in the United States— Yet again (1980)The Financial Firm: Production with Monetary and Nonmonetary Goods (1985)A Monetary Approach to the Exchange Rate: Doctrinal Aspects and Empirical Evidence (1976)A Monetary Approach To The Exchange Rate: Doctrinal Aspects And Empirical Evidence (1977)Testing the Efficiency of the Canadian-U.S. Exchange Market under the Assumption of no Risk Premium (1981)Econometric tests of rationality and market efficiency (1989)Every minute counts in financial markets (1991)Proof that Properly Anticipated Prices Fluctuate Randomly (2015)CAPITAL ASSET PRICES: A THEORY OF MARKET EQUILIBRIUM UNDER CONDITIONS OF RISK* (1964)The Valuation of Risk Assets and the Selection of Risky Investments in Stock Portfolios and Capital Budgets (1965)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)Chapter 15 The specification and influence of asset markets (1985)Some tests of international equity integration (1988)Modern Investment Management: An Equilibrium Approach (2003)EFFICIENT CAPITAL MARKETS: A REVIEW OF THEORY AND EMPIRICAL WORK* (1970)The Pricing of Options and Corporate Liabilities (1973)Pareto Optimality and Competition (1981)Investment Income and Profit Margins in Property-Liability Insurance: Theory and Empirical Results (1987)Necessary Conditions for the CAPM (1997)The monetary dynamics of hyperinflation (1956)Expectations and Exchange Rate Dynamics (1976)Cointegration and models of exchange rate determination (1987)Chapter 33 Empirical research on nominal exchange rates (1995)Dynamic relationship between stock prices and exchange rates for G-7 countries (2001)The Optimum Quantity of Money: and Other Essays (1971)Currency Substitution and the Demand for Money: Some Evidence for Canada (1982)Currency substitution, capital mobility and money demand (1983)Asset Markets, Exchange Rates and the Balance of Payments (1984)Macroeconomics and Reality (1980)Shareholder value, stakeholder management, and social issues: what's the bottom line? (2001)Do ESG Controversies Matter for Firm Value? Evidence from International Data (2016)Capital Controls, Political Risk, and Deviations from Interest-Rate Parity (1980)Price Movements and Price Discovery in Futures and Cash Markets (1983)Capital mobility in the world economy: Theory and measurement (1986)Risk, Return, and Equilibrium: Empirical Tests (1973)
this work references cited by second hop

References

  • 1958Liquidity Preference as Behavior Towards Risk3,916 cited
  • 1968Pitfalls in Financial Model-Building1,042 cited
  • 1976Sharing rules and equilibrium in an international capital market under uncertainty384 cited
  • 1973The Interest Rate Parity Theorem: A Reinterpretation327 cited
  • 1978The Monetary Approach to the Exchange Rate: Some Empirical Evidence (La theorie monetaire du taux de change: preuves empiriques) (El enfoque monetario del tipo de cambio: Algunas pruebas empiricas)304 cited
  • 1977THE FORWARD EXCHANGE RATE, EXPECTATIONS, AND DEMAND FOR MONEY: THE GERMAN HYPERINFLATION269 cited
  • 1978Currency Substitution, Flexible Exchange Rates, and Monetary Independence252 cited
  • 1977Spot rates, forward rates and exchange market efficiency195 cited
  • 1978THE CURRENT STATUS OF THE CAPITAL ASSET PRICING MODEL (CAPM)152 cited
  • 2016Competitive Interest Payments on Bank Deposits and the Long-Run Demand for Money: Reply133 cited
  • 2016Interest Rates and Inflation: The Message in the Entrails77 cited
  • 1977Demand for International Media of Exchange41 cited

Cited by

  • 1983Currency Substitution, Flexible Exchange Rates, and the Case for International Monetary Cooperation: Discussion of a Recent Proposal (Substitution de monnaies, taux de change flexibles et arguments en faveur de la cooperation monetaire internationale: examen d'une recente proposition) (Sustitucion de monedas, tipos de cambio flexibles y argumentos en favor de la cooperacion monetaria internacional: Discusion de una propuesta reciente)

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27 cited
  • 1986Currency substitution and the precautionary demand for money25 cited
  • 1984The transactions demand for money in a two-currency economy14 cited
  • 1988SUBSTITUTION AMONG CURRENCIES: A PREFERRED HABITAT HYPOTHESIS14 cited
  • 1986Currency substitution and the demand for money: The argentine case, 1960–197613 cited
  • 2019Modeling Evaluation of Dollarization Economic Efficiency12 cited