Working Paper Series
Hedging and Managing Exchange Rate and Related Macroeconomic Exposure
() and Clas G. Wihlborg
Abstract: Hedging transaction and translation exposures to exchange
rate changes may increase the economic exposure of the firm and reduce the
information value of firms' quarterly statements. In this paper hedging
macroeconomic exposures, of which exchange rate exposure is one type, is
discussed in terms of choice of macroeconomic variables for which exposures
could be measured, choice of strategy for managing exposures, and choice of
financial instruments for hedging different exposures.
Keywords: Hedging; macroeconomic schocks firm strategy; financial instruments; (follow links to similar papers)
JEL-Codes: G10; G32; (follow links to similar papers)
46 pages, August 1987
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