I profitti speculativi delle banche avvengono a spese degli operatori? Una risposta
DOI:
https://doi.org/10.13133/2037-3651/10901Parole chiave:
Banks, Speculative trade, Foreign exchange markets, StabilityAbstract
The author states that empirical evidence suggests that two types of speculator currently exist in the foreign exchange markets: the first type of speculator simply follows trend movements in exchange rates; the second type anticipates the turning point in trends and thereby turns such runs around. The first type of trade is destabilising and the second type helps to maintain stability. However, both types depend upon an unstable system. Rational operators who attempt to determine fundamental equilibriums appear irrational in terms of the profits they earn. This constitutes a paradox for economic theorists.
JEL Codes: F31, G21
Riferimenti bibliografici
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