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The Art of Currency Manipulation : How to Profiteer by Deliberately Distorting Exchange Rates / Basu, Kaushik
World Bank Open Knowledge Repository (formerly "World Bank E-Library Publications") Available online
View online- Format:
- Book
- Government document
- Author/Creator:
- Basu, Kaushik
- Series:
- Policy research working papers.
- World Bank e-Library.
- Language:
- English
- Subjects (All):
- Cournot oligopoly.
- Currencies and Exchange Rates.
- Currency depreciation.
- Debt Markets.
- Economic Theory & Research.
- Emerging Markets.
- Exchange rates.
- Macroeconomics and Economic Growth.
- Market manipulation.
- Markets and Market Access.
- Local Subjects:
- Cournot oligopoly.
- Currencies and Exchange Rates.
- Currency depreciation.
- Debt Markets.
- Economic Theory & Research.
- Emerging Markets.
- Exchange rates.
- Macroeconomics and Economic Growth.
- Market manipulation.
- Markets and Market Access.
- Physical Description:
- 1 online resource (15 pages)
- Other Title:
- Art of Currency Manipulation
- Place of Publication:
- Washington, D.C., The World Bank, 2013
- System Details:
- data file
- Summary:
- A frequent charge in foreign exchange markets in developing countries is that of manipulators being at work. Since to buy is to raise prices and to sell is to lower prices, the question that naturally arises is whether the widespread charge of market manipulation is valid. The paper shows that (whether or not "widespreadness" has any merit) it is possible for a player to manipulate and profiteer. By using some simple principles of game theory, the paper outlines a strategy that a manipulator may use. The aim of this paper is not to provide a manual for the manipulator but to enable the regulator to understand the art and develop policies to curb manipulation.
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