Originally published in 1979. This book addresses three questions regarding uncertainty in economic life: how do we define uncertainty and use the concept meaningfully to provide conclusions; how can the level of uncertainty associated with a particular variable of economic interest be measured; and does experience provide any support for the view that uncertainty really matters. It develops a theory of the effect of price uncertainty on production and trade, takes a graphical approach to look at effects of a mean preserving spread to create rules for ordering distributions, and finishes with an econometric analysis of the effects of Brazil’s adoption of a crawling peg in reducing real exchange rate uncertainty. This is an important early study into the significance of uncertainty.
| ISBN: | 9781138633629 |
| Publication date: | 13th April 2017 |
| Author: | Don Coes |
| Publisher: | Routledge an imprint of Taylor & Francis Ltd |
| Format: | Hardback |
| Pagination: | 284 pages |
| Series: | Routledge Library Editions: Exchange Rate Economics |
| Genres: |
International economics Econometrics and economic statistics Economic theory and philosophy Finance and accounting Economic history Political economy |