Hedge Monies

Brendan Brown

Chapter 8 in A Theory of Hedge Investment, 1982, pp 147-170 from Palgrave Macmillan

Abstract: Abstract Several monies have important hedge characteristics, providing especially high returns in certain types of crisis. Well-known examples include the British pound in its role of an energy-hedge, the Swiss franc and US dollar as war-hedges, the Deutsche mark and Swiss franc as hedges against US hyperinflation. Other monies have important counter-hedge or fairweather characteristics. Examples include the Japanese yen, for which the energy market being in glut is a source of strength, and the Canadian dollar which thrives on economic boom in the US and in the world economy. These possible hedge and fairweather qualities of monies have implications for both their exchange rate behaviour and their international popularity — the subject of the present chapter.

Keywords: Current Account; Real Exchange Rate; Foreign Currency; Equity Capital; Energy Crisis (search for similar items in EconPapers)
Date: 1982
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DOI: 10.1007/978-1-349-06103-7_8

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