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Essays on Production-Based Exchange ...

Alfaro Dardon, Luis Ivan.

Essays on Production-Based Exchange Rates and Uncertainty.

Record Type:	Language materials, manuscript : Monograph/item
Title/Author:	Essays on Production-Based Exchange Rates and Uncertainty./
Author:	Alfaro Dardon, Luis Ivan.
Description:	1 online resource (159 pages)
Notes:	Source: Dissertation Abstracts International, Volume: 79-04(E), Section: A.
Contained By:	Dissertation Abstracts International79-04A(E).
Subject:	Finance. -
Online resource:	click for full text (PQDT)
ISBN:	9780355398083

Essays on Production-Based Exchange Rates and Uncertainty.
Alfaro Dardon, Luis Ivan.

Essays on Production-Based Exchange Rates and Uncertainty. - 1 online resource (159 pages)

Source: Dissertation Abstracts International, Volume: 79-04(E), Section: A.

Thesis (Ph.D.)

Includes bibliographical references

This dissertation examines both the determinants and the effects of exchange rate dynamics. The work is both theoretical and empirical and examines exchange rates from the perspective of investment and production activity. The dissertation is divided into three chapters.

Electronic reproduction.
Ann Arbor, Mich. :
ProQuest,
2018

Mode of access: World Wide Web

ISBN: 9780355398083Subjects--Topical Terms:

559073
Finance.
Index Terms--Genre/Form:

554714
Electronic books.

Essays on Production-Based Exchange Rates and Uncertainty.
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040 $a MiAaPQ $b eng $c MiAaPQ
099 $a TUL $f hyy $c available through World Wide Web
100 1 $a Alfaro Dardon, Luis Ivan. $3 1181150
245 1 0 $a Essays on Production-Based Exchange Rates and Uncertainty.
264 0 $c 2017
300 $a 1 online resource (159 pages)
336 $a text $b txt $2 rdacontent
337 $a computer $b c $2 rdamedia
338 $a online resource $b cr $2 rdacarrier
500 $a Source: Dissertation Abstracts International, Volume: 79-04(E), Section: A.
500 $a Adviser: Lu Zhang.
502 $a Thesis (Ph.D.) $c The Ohio State University $d 2017.
504 $a Includes bibliographical references
520 $a This dissertation examines both the determinants and the effects of exchange rate dynamics. The work is both theoretical and empirical and examines exchange rates from the perspective of investment and production activity. The dissertation is divided into three chapters.
520 $a The first chapter starts by documenting a novel empirical fact, foreign curren- cies appreciate in the future (with respect to the U.S. dollar) upon larger capital investment rates of foreign subsidiaries of U.S. firms. I examine the link between exchange rates and the real economy in an investment-based asset pricing model. In the model, real investment adjustment costs abroad and at home are key determinants of investment return differentials. Higher foreign affiliate investment rates capture higher underlying investment opportunities abroad, and in turn higher Tobin's Q-differentials between the foreign affiliate and the U.S. headquarter. Going forward, the foreign currency appreciates against the U.S. dollar to offset the higher marginal benefits of production abroad relative to at home. I explore the testable implications of the model in a structural estimation framework using Generalized Method of Moments (GMM). The model does well in accounting for mean excess returns to currency portfolios sorted on the basis of investment rate differentials and interest rate differentials.
533 $a Electronic reproduction. $b Ann Arbor, Mich. : $c ProQuest, $d 2018
538 $a Mode of access: World Wide Web
650 4 $a Finance. $3 559073
650 4 $a Economics. $3 555568
655 7 $a Electronic books. $2 local $3 554714
690 $a 0508
690 $a 0501
710 2 $a ProQuest Information and Learning Co. $3 1178819
710 2 $a The Ohio State University. $b Business Administration. $3 1179216
773 0 $t Dissertation Abstracts International $g 79-04A(E).
856 4 0 $u http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=10678530 $z click for full text (PQDT)

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