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| Author: | Barnes, E. Donnely, R. |
| Title: | An investigation into the hedging effectiveness of the Irish interest rate futures market |
| Journal: | IBAR: Journal of Irish Business and Administrative Research
1995 : VOL. 16:1, p. 70-85 |
| Index terms: | HEDGING EFFECTIVENESS IRISH REPUBLIC |
| Language: | eng |
| Abstract: | The economic rationale for the existence of futures markets is that they facilitate hedging: they allow the more risk averse market participants to transfer the risk of price changes to speculators more willing to bear such risks. Recent fluctuations in interest rates and currencies bear testament to the need for such a hedging mechanism. Accordingly, the effectiveness with which such markets facilitate hedging is of considerable interest. This paper is concerned with the hedging effectiveness of the three interest rate futures contracts trade on the Irish Futures and Options Exchange (IFOX). |
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