Re-interpreting the failure of foreign exchange market efficiency tests
Subtitle: small transaction costs, big hysteresis bands
By: Richard E. Baldwin.
Contributors: National Bureau of Economic Research.
Series: NBER working paper series -- working paper no. 3319; Working paper series (National Bureau of Economic Research) -- working paper no. 3319.
Publisher: National Bureau of Economic Research
Published: 1990
Place of publication: Cambridge, MA
Language: eng
Number of pages: 32
Subjects: Foreign exchange -- Mathematical models.; Hysteresis -- Economic aspects -- Mathematical models.; Efficient market theory.; Speculation -- Mathematical models.
Notes: "April 1990."

Includes bibliographical references (p. 24-26).

Binghamton University Libraries' copy bound with: Risk adjusted deposit insurance for Japanese banks.