The Foreign Exchange and the Market Microstructure of the Polish Zloty

• Autorzy: Stanisław Kluza , Andrzej Sławiński
• Języki publikacji: EN

Abstrakty

EN

Chapter 1 presents the foreign exchange and the market microstructure of the Polish zloty. The assumption of the analysis is that exchange rate displayed high volatility largely not connected with fundamentals. It is argued that the weakness of macroeconomic models has its origin in the complexity and microstructure of the foreign exchange market in the short-run. It has been found that the microstructure properties for PLN/EUR exchange rate are significant and can compete with findings based on fundamentals. The analysis also extends the framework to evaluate factors that can disturb the estimation of foreign exchange microstructure for Poland. (fragment of text).

Słowa kluczowe

EN

Polish Zloty; Convertibility of the zloty; Econometric modeling

PL

Złoty polski; Wymienialność złotego; Modelowanie ekonometryczne

• Czasopismo: FindEcon Monograph Series : advances in financial market analysis
• Rocznik: 2006
• Numer: nr 1 Financial markets : principles of modeling forecasting and decision-making
• Strony: 15--25

Twórcy

autor

Stanisław Kluza

autor

Andrzej Sławiński

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