Measuring and managing exchange rate risk exposure is important for reducing a firm's
vulnerabilities from major exchange rate movements, which could adversely affect profit …

At first sight, the idea of investing internationally seems exciting and full of promise because
of the many benefits of international portfolio investment. By investing in foreign securities …

Currency Strategy, Second Edition develops new techniques and explains classic tools
available for predicting, managing, and optimizing fluctuations in the currency markets …

We propose a simple dynamic model that is an attractive alternative to the (static) Gaussian
copula model. The model assumes that the hazard rate of a company has a deterministic …

In an environment of sizable and volatile capital flows and integrated international capital
markets, large and unhedged net external sovereign liabilities expose countries to swings in …

Financial management requires a systematic approach for generating scenarios of future
capital markets. Today's global environment demands that the scenarios link the economies …

We offer the first examination of whether the gold forward rate is an unbiased predictor of the
future gold spot rate. We find strong evidence that it is not, particularly at longer maturities …

Asset allocation represents a fundamental strategic decision for every institutional investor.
Though many asset allocation approaches have been recommended and implemented in …

Many asset allocation and liability management decisions are controversial, but the decision
that frequently generates the most debate is the currency hedging decision. Strong feelings …

Financial Risk Management is a topic of primary importance in financial markets and, more
generally, in life. Risk can be seen as an opportunity if related to the concept of …