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Prof. Ian Giddy

Office: Stern 9-197. Tel 212-998-0332; Fax 212-995-4233

e-mail ian.giddy@nyu.edu 

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Articles in Referred Journals

• "The Random Behavior of Flexible Exchange Rates: Implications for Forecasting" (with G. Dufey), Journal of International Business Studies (Spring 1975), 1-32.
• "An Integrated Theory of Exchange Rate Equilibrium," Journal of Financial and Quantitative Analysis (November 1977), 601-605.
• "Comment on Robichek and Eaker's Foreign Exchange Hedging and the Capital Asset Pricing Model", Journal of Finance (June 1978), 1030-1031.
• "Eurodollars and International Liquidity: Central Bank Depositing Reconsidered: (with G. Dufey), Societe Universitaire Europeene de Recherche Fiancieres Monograph Series, No. 22A, 1978.
• "Measuring the Eurocurrency Market" (with G. Dufey), Journal of Bank Research (Autumn 1978), 151- 160.
• "Interest Rates in the U.S. and Eurodollar Markets" (with G. Dufey and S. Min), Welwirtschaftliches Archiv, Vol. 115, No. 1 (1979), 51-67.
• "Towards a Theory of Interdependence in Global Banking Regulation" (with D. Allen), Eastern Economic Journal, Vol. 5, No. 4, 1979.
• "Bank Solvency Regulation and Deposit Insurance in the U.S. and the Netherlands" (with W. Eizenga), Societe Universitaire Europeene de Recherche Fiancieres Monograph Series, No. 27A, 1979. Dutch version in Bank-en-Effectenbedrijf, September 1979, 285, 293.
• "Moral Hazard and Central Bank Rescues in an International Context", Financial Review, Vol. 15, No. 2 (Spring 1980), 50-56.
• "The Evolution of Instruments and Techniques in International Financial Markets" (with G. Dufey), Societe Universitaire Europeene de Recherches Fiancieres Monograph Series, No. 35A, 1981.
• "Averting International Banking Crises" (with J.W. Dean), Monograph Series in Finance and Economics, New York University, No. 81-1, 1981.
• "Innovation in the International Financial Markets" (with G. Dufey), Journal of International Business Studies (Fall 1981), 33-52.
• Reprinted in Robert W. Kolb and Thomas R. Schneeweis, eds.,International Business: Concepts and Issues (Richmond: Robert Dame, 1982).
• "The Cost of Capital in the International Firm", Managerial and Decision Economics, Vol. 2, No. 4 (1981), 263-271.
• "National Currencies as International Money", Journal of Comparative Corporate Law and Securities Regulation, Vol. 3, No. 3 (1982).
• "Risk and Return in the Eurocurrency Interbank Market", Greek Economic Review, 1982.
• "Foreign Exchange Options", Journal of Futures Markets, Summer 1983.
• "Eurocurrency Deposit Risk", (with G. Dufey) Journal of Banking and Finance, Vol. 8, 1984.
• "Domestic Regulation versus International Competition in Banking", Kredit und Kapital, 1985.
• "Mitsubishi Corporation Finance," (with R. Smith), Journal of International Accounting and Finance, forthcoming 1994.
• "The Economics of Securities Settlement in Asia's Emerging Markets," Journal of Asian Economics, forthcoming 1994.

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Unpublished Working Papers

• "Swap Valuation"
• "Singapore as an International Capital Market Center"
• "The Volatility Forecasting Performance of Currency Option Straddles"
• "Interest Rate Changes and Exchange Rate Dynamics: A Reconciliation" (with H.S. Kang)
• "Risk and the Underwriting of Corporate Securities" (for AEA December 1985)
• Banking Versus Markets" (for AEA January 1993)

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Chapters in Books

• "Social Organization", in Vern Terpstra et al., The Cultural Environment of International Business (Cincinnati: South-Western, 1978).
• Exchange Risk Under Exchange Controls and Credit Controls", in R. Levich and C. Wihlborg, eds., Exchange Risk and Exposure: Current Developments in International Financial Management (Lexington Books, 1980).
• "The Theory and Industrial Organization of International Banking", in R.M. Levich et al., The Internationalization of Financial Markets and National Economic Policy, (Lexington, 1981).
• "International Commercial Banking", in Edward Altman, ed., Financial Handbook (5th ed., Wiley, 1981).
• "The International Money Markets: Perspective and Prognosis", (with G. Dufey), in R.E. Baldwin and J.D. Richardson, eds., International Trade and Finance (2nd ed., Little Brown, 1981), 533-543.
• "Economic versus Regulatory Influences on Foreign Bank Penetration: A Test for Canada and the United States (with J.W. Dean), in Bank Structure and Competition 1981, (Federal Reserve Bank of Chicago, 1981).
• "Conventional Theory and Unconventional Multinationals" (with S. Young), in A.M. Rugman, ed., New Perspectives on the Multinational Enterprise: Theory and Applications (London: Croom Helm, 1982).
• "Exchange Risk, Forecasting, and Market Efficiency", in J. Oh, ed., International Financial Management (Jai Press, 1982).
• "Trends in International Banking and Implications for Regulation" (with G. Dufey), in E.N. Roussakis, ed., International Banking (Praeger, 1982).
• "Gold Policies and Gold Prices", in Botha, ed., Monetary Economics: Proceedings of a Conference (1984).
• "The Eurocurrency Market", in International Finance Handbook, ed. by A.M. George and I.H. Giddy (Wiley, 1983).
• "Eurocurrency Interest Rates", in International Finance Handbook, ed. by A.M. George and I.H. Giddy (Wiley, 1983).
• "International Trade Financing" (with M. Ismael), in International Finance Handbook, ed. by A.M. George and I.H. Giddy (Wiley, 1983).
• "Mathematics of International Finance" (with Ho Sang Kang), in International Finance Handbook, ed. by A.M. George and I.H. Giddy (Wiley, 1983).
• "Eurocurrency Arbitrage, in Eurodollars and International Banking, ed, by Savona and G. Sutija (Macmillan, 1985)
• "New and Old Proposals for International Banking Safety" (with J. Dean), in Current Perspectives in Banking, ed by T. Havrilesky, J. Boorman and R. Schweitzer (1986).
• "Assetless Banking", in Strategic Planning in International Banking, by P. Savona and G. Sutija (Macmillan, 1985).
• "Underwriting Risk for Commercial Banks: An Empirical Study", Bank Structure and Competition 1984 (Federal Reserve Bank of Chicago, 1984).
• "Is Equity Underwriting Risky for Commercial Bank Affiliates?" in Deregulating Wall Street, ed by Ingo Walter (New York: Wiley, 1985).
• "Regulation of Off Balance Sheet Banking," in Federal Reserve Bank of San Francisco, The Search for Financial Stability (1986).
• "Swaps" and other chapters, in Handbook of Investment Banking ed. by R. Kuhn (Dow Jones-Irwin, 1990)
• "The Management of Foreign Exchange Risk," (with G. Dufey), in F. Choi, ed., Handbook of International Accounting (Wiley, 1993, 1994)
• "Exchange Rate Volatility, Hedging, and the Cost of Capital," in Y. Amihud and R. Levich, eds, Exchange Rates and Corporate Performance (Irwin, 1994)
• "Money Markets of the Pacific Basin," (with G. Dufey), in T. Fetherstone, ed., Asian Capital Markets, forthcoming 1994.
• "Who Should be the Banking Supervisors?" in Robert C. Effros, ed., Current Legal Issues Affecting Central Banks, International Monetary Fund, forthcoming.

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Articles in Non-Referred Journals

• "The Blossoming of the Eurobond Market", Columbia Journal of World Business (winter 1975), 66-76.
• "Forecasting Exchange Rates in a Floating World" (with G. Dufey), Euromoney (November 1975), 28-35. Also published under the title "Currency Forecasting in a Floating World," in Foreign Exchange Risk (London: Euromoney Publications, 1978).
• "Eurodollar Market and the Third World" (with J.R. Ray), Michigan Business Review (March 1976), 11- 15.
• "Why it Doesn't Pay to Make a Habit of Forward Hedging", Euromoney (December 1976), 96-100. Also published under the title "Forward Hedging", in Richard Ensor and Boris Antl, eds., The Management of Foreign Exchange Risk (London: Euromoney Publications, 1978). Also published in Donald R. Lessard, ed., Frontiers of International Financial Management (Warren, Gorham and Lamont, 1979).
• "The Demise of the Product Cycle Model in International Business Theory", Columbia Journal of World Business (Spring 1978), 80-97.
• "Does FAS No. 8 Affect Stock Prices? Business International Money Report (May 1978), 165-168.
• "The Unique Risks of Eurodollars" (with G. Dufey), Journal of Commercial Bank Lending (June 1978), 122-132.
• "The Predictive Power of Black Market Rates", Business International Money Report (June 1978), 165- 168.
• "International Financial Planning: The Use of Market-Based Forecasts" (with G. Dufey), California Management Review (Fall 1978), 69-81.
• "The Linkages that Tie Together International Interest Rates", (with G. Dufey) Euromoney (November 1978), 127-132.
• "The Control of Offshore Banking: Europe Versus the United States" (with G. Dufey), American Banker, March 17, 1979.
• "Alternative Approaches to the Regulation of International Banking" (with G. Dufey), Singapore Banking and Finance Journal, 1979, 120-124.
• "International Competition in Bank Regulation" (with D. Allen), Banca Nazionale del Lavoro Quarterly Review, No. 130 (September 1979, 311-326.
• "The Public Policy Implications of the Eurocurrency Market", Columbia Journal of World Business, Vol 14, No. 3 (Fall 1979), 4-7.
• "Measuring the World Foreign Exchange Market", Columbia Journal of World Business, Vol. 14, Nol. 4, (Winter 1979), 36-48.
• "Six Ways to World Banking Safety" (with J.W. Dean), Euromoney, May 1981, 128-135.
• "Strangers and Neighbors: Cross-Border Banking in North America" (with J.W. Dean), Banca Nazionale del Lavoro Quarterly Review, No. 137 (June 1981, 191-211. Italian version
• in Moneta & Credito, Vol. 34, No. 134, 205-221.
• "The Foreign Exchange Option as a Hedging Tool", Midland Corporate Finance Journal (Fall 1983).
• "Government Securities Dealing" New York University Business (Winter 1986), 57-60.
• "Procter & Gamble's Diff Swap," International Treasurer, July 1994.
• "Increase Economic Freedom (A Memo to President Mandela)," Stern Business, Fall 1994.
• "Corporate Uses and Abuses of Currency Options," (with G. Dufey), Journal of Applied Corporate Finance, Fall 1996.

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Books

• Devaluations, Revaluations and Stock Market Prices, unpublished Ph.D. dissertation, The University of Michigan, 1974.
• The International Finance Handbook (ed. with A.M. George), Two Vols, Wiley, 1983.
• Cases in International Finance (with G. Dufey), Addison Wesley, new edition 1993.
• The International Money Market (with G. Dufey), Prentice-Hall, 1978 ("Foundations of Finance" series) (2nd edition 1994).
• Global Financial Markets, Houghton Mifflin (1994). Korean edition, Kyungmun Sa Publishing Co, 1994. Chinese edition, forthcoming 1995.
• The Management of Financial Risk for Korean Firms (in Korean, with Rosung Kwak). Forthcoming
• Asset Securitization in Asia (1997) ASIA Limited, Singapore.

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More about

• The Stern School of Business
• The Instructor
• Prof Giddy's International Financial Management course
• Prof Giddy's Corporate Finance course
• Prof Giddy's Debt Instruments and Markets course
• Prof Giddy's short courses and seminars

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