CAPITAL-MARKETS, THE SEPARATION PROPERTY AND HEDGING

Autor(en): BROLL, U
ZILCHA, I
Stichwörter: Business & Economics; Economics; FIRM; FUTURES MARKETS; PRICE UNCERTAINTY
Erscheinungsdatum: 1994
Herausgeber: ELSEVIER SCIENCE SA LAUSANNE
Journal: ECONOMICS LETTERS
Volumen: 44
Ausgabe: 1-2
Startseite: 165
Seitenende: 168
Zusammenfassung: 
We consider a risk-averse firm facing exchange rate and interest rate uncertainty. When international capital markets are accessible the separation property holds. However, these hedging instruments are not equivalent to creating missing interest rate futures markets.
ISSN: 01651765
DOI: 10.1016/0165-1765(93)00312-C

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