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He has called for the return of currency controls on exporters' earnings and has promised preferential treatment for the country's corrupt and incompetent commercial banks (see article), bankrupted by the default on rouble debt announced on August 17th.
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A group of financiers agreed to lend the crown £1.2m in return for a partial monopoly on the issue of currency.
The Japanese currency show mean return of −0.0019, Hong Kong currency show 0.000026 %; Indian exchange rate show 0.0094%%; whereas Sri- Lankan currency shows mean daily return of 0.016 %.
Several other investments failed to produce respectable returns only because of currency depreciations.All this looked very much like the distribution of returns typical in venture capital plenty of duds, a few stellar performers rather than in mainstream banking.
A range of corporations have acknowledged that they are preparing for the possible return of a Greek currency.
A steamroller could yet restore the reputation of economic theory.* "The Returns to Currency Speculation", by Craig Burnside, Martin Eichenbaum, Isaac Kleshchelski and Sergio Rebelo † Global Investment Returns Yearbook 2007.
Maggiori, on the other hand, suggests a procedure to study the time-series properties of currency returns and allows to estimate the conditional currency safety premium.
The work by Maggiori (2013) and this paper differ from this recent literature insofar as the focus of the latter is mainly on the cross section of currency returns and unconditional moments.
Further examples of asset pricing models of currency returns with systematic deviations from UIP are estimated by Burnside et al. (2011), Lustig and Verdelhan (2011) and Lustig et al. (2014).
In the past year or so, they have taken a further step, by piling into high-risk, high-return margin trading of currencies.
The secret scheme would have eased the way to the return of the nation's former currency, the drachma.
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