CAPITAL-MARKETS, THE SEPARATION PROPERTY AND HEDGING

被引：1

作者：

BROLL, U ^{[1
]}

ZILCHA, I ^{[1
]}

机构：

[1] TEL AVIV UNIV,DEPT ECON,IL-69978 TEL AVIV,ISRAEL

来源：

ECONOMICS LETTERS | 1994年 / 44卷 / 1-2期

关键词：

D O I：

10.1016/0165-1765(93)00312-C

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

We consider a risk-averse firm facing exchange rate and interest rate uncertainty. When international capital markets are accessible the separation property holds. However, these hedging instruments are not equivalent to creating missing interest rate futures markets.

引用

页码：165 / 168

页数：4

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