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Handbook of Safeguarding Global Financial Stability by Gerard Caprio

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Chapter 11

Microstructure of Currency Markets

M.D.D. Evans

Georgetown University, Washington, DC, USA

Outline

Introduction

Models of foreign exchange market microstructure examine the determination and behavior of spot exchange rates in an environment that replicates the key features of trading in the foreign exchange (FX) market. Traditional macro exchange rate models pay little attention to how trading in the FX market ...

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