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L3_FEXMarket - Recap of Last Lecture 1 Statistical...

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1 Recap of Last Lecture 1. Statistical description of open economies 2. Markets develop to help countries capture gains from trade: Gains from exchanging goods Gains from trading over time Gains from trading risk 2 The Foreign Exchange Market Overview Reference: Levich, Chapter 3 Origins of the market Products and activities in this market (*) Empirical facts about this market Risks in this market
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