北大金融学课件(英文版)第5章(4课时).pptVIP

CHAPTER 5 What Determines Exchange Rates? The Variability of Exchange Rate Three types of variability after early 1970s. Long-term trends Medium-term trends (which can be counter to the long-term trends) Short-term trends Figure 5.1, Panel A Figure 5.1, Panel B In the Short Run: the Asset Market Approach Most of the daily exchange trading is related to the tradings of international financial investors. The tradings of international financial investors in assets market will place pressures on demand and supply. In the Short Run : the Asset Market Approach The uncovered interest parity: recal