La speculazione su cambi esteri ed i trasferimenti internazionali di fondi privati (parte prima) (The role of commercial banks in foreign exchange speculation)
<p dir="ltr">The article suggests that, contrary to popular belief, banks can play a useful role in foreign exchange speculation if they are given a chance to draw a permanent profit from it and are convinced of the ability of the monetary authorities to maintain the exchange rate wi...
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| Format: | Article |
| Language: | Italian |
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Associazione Economia civile
2014-07-01
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| Series: | Moneta e Credito |
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| Online Access: | http://ojs.uniroma1.it/index.php/monetaecredito/article/view/12401 |
| Summary: | <p dir="ltr">The article suggests that, contrary to popular belief, banks can play a useful role in foreign exchange speculation if they are given a chance to draw a permanent profit from it and are convinced of the ability of the monetary authorities to maintain the exchange rate within certain pre-established boundaries. The author proposes a model to argue that banks’ speculative activity is beneficial both in stabilising the exchange rate in the face of non-speculators’ operation and in repelling a sudden attack by occasional speculators.</p><span><span><br /></span></span><p dir="ltr">JEL: F31, G21, E58</p><div><span><br /></span></div> |
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| ISSN: | 2037-3651 |