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The Performance of the Foreign Exchange Markets: 1971-1974

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  • Steven W Kohlhagen

    (University of California)

Abstract

This paper explores the behavior of the foreign exchange markets for the floating rate period since 1973 and the immediately preceding fixed rate period. The author presents evidence showing that the cost of forward cover and the gains from speculation in the forward market for the major currencies has not changed significantly between the two periods and, in fact, the forward rate has been an unbiased predictor of the future spot rate for the floating rate period.© 1975 JIBS. Journal of International Business Studies (1975) 6, 33–40

Suggested Citation

  • Steven W Kohlhagen, 1975. "The Performance of the Foreign Exchange Markets: 1971-1974," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 6(2), pages 33-40, June.
    • Handle: RePEc:pal:jintbs:v:6:y:1975:i:2:p:33-40
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    Cited by:

    1. Oscar Varela, 1999. "Futures and realized cash or settle prices for gold, silver, and copper," Review of Financial Economics, John Wiley & Sons, vol. 8(2), pages 121-138, September.
    2. M. Manzur, 1990. "Key Issues in Exchange Rate Economics," Economics Discussion / Working Papers 90-07, The University of Western Australia, Department of Economics.

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