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| Author: | Agenor, P. Flood, R. |
| Title: | Unification of foreign exchange markets: a rejoinder to Lai and Chang |
| Journal: | Staff Papers
1994 : MAR, VOL. 41:1, p. 171-172 |
| Index terms: | FOREIGN EXCHANGE MARKET COMPUTER TERMINALS FINANCE |
| Language: | eng |
| Abstract: | Professors Lai and Chang have provided valuable extensions to the authors' analysis of exchange market unification. The use of the "terminal curve" AA in the graphical presentation of the unification process shows clearly the universe relationship between the reform date and the unified exchange rate. Their contribution shows that the dynamic predictions of the authors' model are potentially richer than they originally indicated. However, an examination of the most probable outcomes would prove useful. |
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