Monetary model of black market exchange rate determination: evidence from African countries

Article Abstract:

A theoretical framework for analyzing black market exchange rates in African countries has been developed based on the assumption that excess supply in money markets pulls down the value of local currencies in the black market. The approach uses the paradigm of money demand and supply, wherein the excess supply of money is measured before it is applied in the analysis of black market rates. Results support the monetary model except in cases involving world price of imports.

Africa, Black market

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The effect of exchange-rate risk on exports; some additional empirical evidence

Article Abstract:

Exchange-rate volatility is shown to affect exports somewhat in five of six countries examined. The equations used in this study more closely approximate the relationship of current account positions and forward markets to the exchange uncertainty's effect on exports than previously published models.

World, Foreign Trade Companies NEC, Other Miscellaneous Nondurable Goods Wholesalers, WHOLESALE TRADE--DURABLE GOODS, Risk assessment, Balance of payments, Exports, Wholesale industry, Wholesale trade, Trading companies, Foreign exchange futures

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Are long-term bond yields excessively volatile?

Article Abstract:

Two hundred years of data from the US and the UK found that long-term bond yields are not excessively volatile. The interest rates are characterized by stability.

United Kingdom, United States, Securities Dealers, Investment Banking and Securities Dealing, Security brokers and dealers, Research, Prices and rates, Securities industry, Bonds, Bonds (Securities)

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