دانلود مقاله ISI انگلیسی شماره 7915
عنوان فارسی مقاله

خوشه بندی قیمت در بازارهای لحظه ای ارز

کد مقاله سال انتشار مقاله انگلیسی ترجمه فارسی تعداد کلمات
7915 2002 7 صفحه PDF سفارش دهید محاسبه نشده
خرید مقاله
پس از پرداخت، فوراً می توانید مقاله را دانلود فرمایید.
عنوان انگلیسی
Price clustering in foreign exchange spot markets
منبع

Publisher : Elsevier - Science Direct (الزویر - ساینس دایرکت)

Journal : Journal of Financial Markets, Volume 5, Issue 4, October 2002, Pages 411–417

کلمات کلیدی
- بازارهای مالی بین المللی - ارز - ارز خارجی
پیش نمایش مقاله
پیش نمایش مقاله خوشه بندی قیمت در بازارهای لحظه ای ارز

چکیده انگلیسی

This paper documents the existence of price clustering in the foreign exchange spot market for the German mark, the Japanese yen, the United Kingdom pound, the French franc, the Italian lira, and the Swedish krona. The U.S. dollar exchange rate indicative quotes for these currencies tend to exhibit clustering around right-most digits that end in either a “zero” or a “five.” The tendency for exchange rates to cluster has increased with increases in trading volume and volatility. Moreover, the tendency for exchange rates to cluster differs across currencies.

نتیجه گیری انگلیسی

This paper has documented the existence of price clustering in the foreign exchange spot markets for the German mark, the United Kingdom pound, the Japanese yen, the French franc, the Italian lira, and the Swedish krona. The dollar exchange rate quotes for each of these currencies tend to have right-most digits that end in either a “zero” or a “five”. Moreover, the tendency for exchange rates to cluster generally increases with increases in trading volume and volatility. We also find that the propensity for exchange rates to cluster differs across currencies. Clustering is more prevalent in the indicative quotes for the French franc, Italian lira, UK pound, and Swedish krona, and less prevalent in the indicative quotes for the German mark and Japanese yen.

خرید مقاله
پس از پرداخت، فوراً می توانید مقاله را دانلود فرمایید.