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The Microstructure Approach to Exchange Rates
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Unique appeal: Microstructure tools reveal exchange rate puzzles
This book is a great read for those interested in economics and finance, particularly in exchange-rate behavior. Richard K. Lyon's "The Microstructure Approach to Exchange Rates" offers a fresh perspective on exchange rate economics, focusing on how microstructure tools help to clarify the types of information most relevant to exchange rates. The book departs from unrealistic assumptions common to previous approaches and offers a combination of theoretical and empirical work. The microstructure approach is a unique and distinctive feature of this book, revealing previously puzzling exchange-rate behavior and making it a must-read for interested readers.
Sale
The Microstructure Approach to Exchange Rates
Regular price
RM83.70 MYR
RM36.19 MYR
57% off
- Unit price
- / per
50% off
57% off
57% off
58% off
ISBN: 9780262622059
Estimated First-hand Retail Price: RM278.06 MYR
Authors:
Richard K. Lyons
Publisher: The MIT Press
Date of Publication: 2006-01-20
Format: Paperback
Goodreads rating: 3.09
(rated by 11 readers)
Description
Historically, the fields of exchange-rate economics and microstructure finance have progressed independently of each other. Recent interaction, however, has given rise to a microstructure approach to exchange rates. This book focuses on the economics of financial information and how microstructure tools help to clarify the types of information most relevant to exchange rates. The microstructure approach views exchange rates from the perspective of the trading room, the place where exchange rates are actually determined. Emphasizing information economics over institutional issues, the approach departs from three unrealistic assumptions common to previous that all information relevant to exchange rates is publicly available, that all market participants are alike in their goals or in how they view information, and that how trading is organized is inconsequential for exchange rates. The book shows how exchange-rate behavior previously thought to be particularly puzzling can be explained using the microstructure approach. It contains a combination of theoretical and empirical work.
Condition guide
Book Condition Guide
Books in Like New Condition
This book may contain very minor cosmetic defects, but it is in pristine condition. There should be no yellowing, no foxing, no water damage, and no annotations of any kind on the cover and the pages. For paperbacks, there should not be any crease marks on the spine. This book is good as new — lucky you!
*Books may be missing bundle media (e.g. CD, e-book code), if included.
Books in Very Good Condition
This book has been used, but it is still in a clean condition. There should be no foxing or annotations of any kind on the inner pages, but a sparse amount may be present on the cover, title pages, or outside edges of the book. There should be no water damage of any kind. For paperbacks, there may be light crease marks on the spine.
*Books may be missing bundle media (e.g. CD, e-book code), if included.
Books in Good Condition
We do our best to ensure the quality of our books, but there is no escaping the wear and tear that comes with time. Slight foxing and some annotations may be present on the pages and the cover. There should be no water damage of any kind. For paperbacks, there may be several crease marks on the spine.
*Books may be missing bundle media (e.g. CD, e-book code), if included.
Books in Well Read Condition
This is a well-read book, which means that the previous owner probably really enjoyed it! The cover and pages may include moderate foxing and annotations, but the text is not obscured and still readable. Moderate cosmetic defects and minor water damage may be present on the edges of the book. For paperbacks, there may be multiple crease marks on the spine.
*Books may be missing bundle media (e.g. CD, e-book code), if included.
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Unique appeal: Microstructure tools reveal exchange rate puzzles
This book is a great read for those interested in economics and finance, particularly in exchange-rate behavior. Richard K. Lyon's "The Microstructure Approach to Exchange Rates" offers a fresh perspective on exchange rate economics, focusing on how microstructure tools help to clarify the types of information most relevant to exchange rates. The book departs from unrealistic assumptions common to previous approaches and offers a combination of theoretical and empirical work. The microstructure approach is a unique and distinctive feature of this book, revealing previously puzzling exchange-rate behavior and making it a must-read for interested readers.
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