Restricted Export Flexibility and Risk Management with Options and Futures

Kurzanzeige
dc.contributor.authorAdam-Müller, Axel F. A.deu
dc.contributor.authorWong, Kit Pongdeu
dc.date.accessioned2011-03-25T09:42:12Zdeu
dc.date.available2011-03-25T09:42:12Zdeu
dc.date.issued2002deu
dc.description.abstractThis paper examines the production, export and risk management decisions of a risk-averse competitive firm under exchange rate risk. The firm is export flexible in allocating its output to either the domestic market or a foreign market after observing the exchange rate. Export flexibility is restricted by certain minimum sales requirements that are due to long-term considerations. Currency options are sufficient to derive a separation result under restricted export flexibility. Under fairly priced currency futures and options, full hedging with both instruments is optimal. Introducing fairly-priced currency options stimulates production provided that the currency futures market is unbiased.eng
dc.format.mimetypeapplication/pdfdeu
dc.identifier.ppn099210274deu
dc.identifier.urihttp://kops.uni-konstanz.de/handle/123456789/12024
dc.language.isoengdeu
dc.legacy.dateIssued2002deu
dc.relation.ispartofseriesCoFE-Diskussionspapiere / Zentrum für Finanzen und Ökonometriedeu
dc.rightsterms-of-usedeu
dc.rights.urihttps://rightsstatements.org/page/InC/1.0/deu
dc.subjectrestricted export flexibilitydeu
dc.subjectrisk managementdeu
dc.subjectcurrency futuresdeu
dc.subjectcurrency optionsdeu
dc.subject.ddc330deu
dc.subject.jelD81deu
dc.subject.jelD21deu
dc.subject.jelF31deu
dc.titleRestricted Export Flexibility and Risk Management with Options and Futureseng
dc.typeWORKINGPAPERdeu
dspace.entity.typePublication
kops.bibliographicInfo.seriesNumber2002/07deu
kops.citation.bibtex
@techreport{AdamMuller2002Restr-12024,
  series={CoFE-Diskussionspapiere / Zentrum für Finanzen und Ökonometrie},
  title={Restricted Export Flexibility and Risk Management with Options and Futures},
  year={2002},
  number={2002/07},
  author={Adam-Müller, Axel F. A. and Wong, Kit Pong}
}
kops.citation.iso690ADAM-MÜLLER, Axel F. A., Kit Pong WONG, 2002. Restricted Export Flexibility and Risk Management with Options and Futuresdeu
kops.citation.iso690ADAM-MÜLLER, Axel F. A., Kit Pong WONG, 2002. Restricted Export Flexibility and Risk Management with Options and Futureseng
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