() and Clas G. Wihlborg
Lars Oxelheim: Research Institute of Industrial Economics (IFN)
Clas G. Wihlborg: University of Southern California
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.
46 pages, August 1987
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