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The Mechanisms and What can be Done about Them — a Close Look

In: Exchange Rates and the Firm

Author

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  • Richard Friberg

    (Stockholm School of Economics)

Abstract

After the focus on contractual exposure in Chapter 8 we now return to the question of economic exposure. It would have to be a very brave, or foolish, businessman that built strategy on results from regressions such as those in Chapter 7 above, without understanding the underlying mechanisms. This point is of course not new: for instance Coppé et al. (1996) stress that ‘Companies need to understand — not just correlate — the relationship between foreign exchange movements and cashflows.’ This is not to say that statistical analysis is pointless — it can serve as a valuable complement to economic analysis.

Suggested Citation

  • Richard Friberg, 1999. "The Mechanisms and What can be Done about Them — a Close Look," Palgrave Macmillan Books, in: Exchange Rates and the Firm, chapter 9, pages 57-100, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-333-98237-2_9
    DOI: 10.1057/9780333982372_9
    as

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