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學年
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113 |
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學期
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1 |
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出版（發表）日期
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2024-12-31 |
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作品名稱
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The fluctuations in the international reserve currency portfolio of Special Drawing Right |
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作品名稱（其他語言）
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著者
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Ting-Huan Chang1, Tung-Yueh Pai2, Ming-Tsung Wei3* |
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單位
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出版者
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著錄名稱、卷期、頁數
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Journal of Accounting, Finance & Management Strategy, Vol. 19, No. 2, Dec. 2024, pp205-232 |
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摘要
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The International Monetary Fund (IMF) created the Special Drawing Rights (SDRs) with 16-currencies in 1969 as a reserve asset and a unit of account. In 1980, the IMF modified the composition of and weights to calculate the exchange rate on 5-currencies. This paper mainly discusses the adjustments to the composition of the SDRs and the corresponding weights in terms of the daily exchange rate from 1981 to 2022, using Markowitz's portfolio theory to calculate the changes in risk under the floating exchange rate system. This study shows that the IMF did indeed reduce the risk of exchange rate fluctuations |
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關鍵字
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International Reserve Currency, Special Drawing Right, Basket of Currencies, Portfolio Theory, Dynamic Volatility |
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語言
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en |
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ISSN
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1556-5793 |
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期刊性質
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國內 |
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收錄於
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EconLit
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產學合作
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通訊作者
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審稿制度
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0 |
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國別
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TWN |
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公開徵稿
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出版型式
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,電子版 |
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