We provide evidence of private information in the foreign exchange market. The evidence
comes from the introduction of trading in Tokyo over the lunch hour. Lunch‐return variance …

Consistent with the implications from a simple asymmetric information model for the bid-ask
spread, we present empirical evidence that the size of the bid-ask spread in the foreign …

We provide an overview of the important events of the recent global financial crisis and their
implications for exchange rates and market dynamics. Our goal is to catalogue all that was …

International Money and Finance, Ninth Edition presents an institutional and historical overview
of international finance and international money, illustrating how key economic concepts …

We analyze exchange rates along with equity quotes for 3 German firms from New York (NYSE)
and Frankfurt (XETRA) during overlapping trading hours to see where price discovery …

The mixture of distributions model motivates the role of public information arrival in foreign
exchange market dynamics. Public information arrival is measured using Reuters Money‐…

The post-war economics literature has been characterized by a marked trend toward co-authored
articles, as illustrated in figure 1. Economics is not the only discipline characterized by …

Volatility spillovers of the DM/$ and ¥/$ exchange rate across regional markets are examined
using the integrated volatility of high-frequency data. An analysis of quoting patterns …

… Michael Melvin … Melvin acknowledges the support of the Center for Financial System
Research at Arizona State University. Michael Melvin is an Associate Professor of …

The dramatic yen/dollar volatility of 1998 has been popularly ascribed to order flow driven
by changing tastes for risk and hedge-fund herding on unwinding yen ‘carry trade’ positions …