Pope, Robin; Selten, Reinhard; Kube, Sebastian; Hagen, … - Dipartimento di Politica Economica, Finanza e Sviluppo … - 2006
Conclusions favourable to flexible exchange rates typically accord with expected utility theory in ignoring the costs that exchange rate uncertainty generates for governments, central banks, firms and unions in: (i) choosing among available acts; and (ii) existing until learning the outcome of...