Διεθνείς σχέσεις ισοδυναμίας και συναφείς επενδυτικές στρατηγικές
KeywordsΠληθωρισμός ; Συναλλαγματικές ισοτιμίες ; Προθεσμιακές ισοτιμίες ; Purchasing power parity ; Interest rate parity ; Fisher effect (Economics) ; Euribor ; Libor
The objective of this paper is to examine the relationship between the international parities and whether opportunities to speculate are created by any imbalances that may prevail. In the theoretical segment, the balance between world markets and the historical data of macro-economic indicators are analyzed. Afterward, using an econometric model, the validity of the theoretical balances is examined. In addition, the strategies that could be followed in order to make profit by exploiting any imbalances are investigated. In the investigation process, forward contracts and non-forward exchange rates are used. Finally, I investigate the costs that have the potential to write-off the any profits made through the strategies identified, so as to examine the validity of the strategies in practice.