Devaluation Risk and Forward Exchange Theory.

This article presents a formal model of forward exchange market speculation which is based upon the present structure of the international monetary system with binomial speculative expectations. The recognition of the binomial character of speculative expectations which is embodied in our speculativ...

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Bibliographic Details

Published in:	American Economic Review Vol. 60; no. 4; pp. 721 - 728
Main Author:	Schilling, Don
Format:	Article
Published:	American Economic Association Sep70
Subjects:	Foreign exchange market Markets Foreign exchange Monetary systems Monetary policy International finance Finance
Online Access:	View this record in EBSCOhost