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Speculative Deviations

  • Paul Einzig

Abstract

Even if, through sheer coincidence bordering on miracle, the inflow and outflow of capital happened to balance at the exchange rate at which imports and exports are at equilibrium, it would not follow at all that the exchange rate would necessarily become adjusted to its trade equilibrium level and would settle down around it. For there are also the speculation and arbitrage factors to reckon with. This chapter is concerned with the former.

Keywords

Exchange Rate Foreign Exchange Speculative Operation Foreign Exchange Market Exchange Movement 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Paul Einzig 1970

Authors and Affiliations

  • Paul Einzig

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