Microscopic Analysis of Exchange Rates and Their Institutional Arrangements

Author: Xi Junyang
Publisher:
Publish Date: 2006-09-01
Features: This book primarily uses microstructure analysis as a method, exploring the topic in a logical sequence of history-theory-evidence. It focuses on studying the organizational structure and institutional characteristics of the foreign exchange market, the specific process of foreign exchange transactions, and the behavior of various market participants. This aims to explain the "mystery of exchange rate determination" and provide insights for central banks to formulate measures for stabilizing exchange rates.