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Exchange risk in the EMS: some evidence based on a GARCH model

Article Abstract:

Analysis of the impact of the European Monetary System on the stability of exchange rates of member countries shows that it definitely decreased volatility as seen in the behavior of the conditional variance. This observation is true and consistent for the period after 1976. It shows that this integrated monetary policy has been achieving its goals.

Author: Hassapis, Christis
Publisher: Blackwell Publishers Ltd.
Publication Name: Bulletin of Economic Research
Subject: Economics
ISSN: 0307-3378
Year: 1995
Evaluation, Foreign exchange, Monetary policy, European Monetary System

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Can the sufficient conditions used to sign the global effect of risk be used to sign the marginal effect of risk?

Article Abstract:

The concepts of marginal effect of risk and global effect of risk should be treated as interrelated instead of independent, contrary to the assertions of many economics writers. A particular case of the former concept called 'marginal effect in the small' is shown to have a sign that is synonymous to that of the second concept.

Author: Sproule, Robert, Simpson, Wayne, Hum, Derek
Publisher: Blackwell Publishers Ltd.
Publication Name: Bulletin of Economic Research
Subject: Economics
ISSN: 0307-3378
Year: 1995

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Risk Pooling in the Presence of Moral Hazard

Article Abstract:

The article presents the appropriate size of an insurance pool in which the average risk per policy is minimized when the benefits of pooling are offset by moral hazard.

Author: Eisenhauer, Joseph G.
Publisher: Blackwell Publishers Ltd.
Publication Name: Bulletin of Economic Research
Subject: Economics
ISSN: 0307-3378
Year: 2004
Science & research, Models, Insurance pools

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Subjects list: Research, Risk (Economics)
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