کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
5069670 1373193 2014 6 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Foreign exchange customers and dealers: Who's driving whom?
موضوعات مرتبط
علوم انسانی و اجتماعی اقتصاد، اقتصادسنجی و امور مالی اقتصاد و اقتصادسنجی
پیش نمایش صفحه اول مقاله
Foreign exchange customers and dealers: Who's driving whom?
چکیده انگلیسی

This paper tests the theoretical assumption of the foreign exchange market microstructure that dealers and non-dealer customers interact over discrete trading rounds. An exhaustive frequency-domain analysis reveals that the interaction is limited and mainly due to the instability of financial markets. The principal finding is that the trading activity of dealers is able to predict the customer order flow at low frequencies with wavelengths longer than roughly a week. In all, the evidence shows that non-financial customers are not as passive as some other research has suggested.

ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Finance Research Letters - Volume 11, Issue 3, September 2014, Pages 213-218
نویسندگان
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