Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/36492 
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dc.contributor.authorBroll, Udoen
dc.contributor.authorWahl, Jack E.en
dc.contributor.authorWessel, Christophen
dc.date.accessioned2009-01-29-
dc.date.accessioned2010-07-15T09:40:58Z-
dc.date.available2010-07-15T09:40:58Z-
dc.date.issued2008-
dc.identifier.urihttp://hdl.handle.net/10419/36492-
dc.description.abstractThis paper studies a Cournot duopoly in international trade so that the firms are exposed to exchange rate risk. A hedging opportunity is introduced by a forward market where the foreign currency can be traded on. We investigate two settings: First we assume that hedging and output decisions are taken simultaneously. We show that hedging is just done for risk managing reasons as it is not possible to use hedging strategically. In this setting the well-known separation result of the competitive firm holds if both firms have the hedging opportunity. In the second setting the hedging decisions are made before the output decisions. We show that hedging is used not only to manage the risk exposure but also as a strategic device. Furthermore we find that no separation result can be stated.en
dc.language.isoengen
dc.publisher|aTechnische Universität Dresden, Fakultät Wirtschaftswissenschaften |cDresdenen
dc.relation.ispartofseries|aDresden Discussion Paper Series in Economics |x06/08en
dc.subject.jelF10en
dc.subject.jelF11en
dc.subject.jelF30en
dc.subject.jelF31en
dc.subject.ddc330en
dc.subject.keywordExchange Rate risken
dc.subject.keywordhedgingen
dc.subject.keywordexportsen
dc.subject.keywordduopolyen
dc.subject.stwWechselkursrisikoen
dc.subject.stwExporten
dc.subject.stwHedgingen
dc.subject.stwDuopolen
dc.subject.stwAußenwirtschaftstheorieen
dc.subject.stwTheorieen
dc.titleExport production, hedging exchange rate risk: the duopoly case-
dc.type|aWorking Paperen
dc.identifier.ppn590242148en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:zbw:tuddps:0608en

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