Tiffany Hutcheson
Lecturer, Finance
BEc (Hons) (Syd), MCom (Hons) (UNSW)
Email: Tiffany.Hutcheson@uts.edu.au
Phone: +61 2 9514 7731
Fax: +61 2 9514 7711
Room: CM05D.02.38 (map)
Mailing address: PO Box 123,
Broadway NSW 2007,
Australia
Biography
Since being employed by the School of Finance and Economics in 1995 I have taught several subjects in the areas of economics and financial markets. Currently and between Spring Semester 2000 and Spring Semester 2002 I have been the Coordinator of Undergraduate Courses for the School of Finance and Economics. As Coordinator I have attended the monthly meetings of the Undergraduate Planning Committee and brought to the attention of the Committee several minor changes in the majors offered by the School. I am the School’s representative on the Assessment Grade Committee and over 2002 was a member of the Faculty Academic Conduct Committee. Currently I am working on three research papers. The first paper is on “Temporal Relationships and Foreign Exchange Markets” and has already been presented at an international conference. The second paper is being written jointly with another academic from the School and is examining the “Learning difficulties encountered by International Students”. The third paper is being written jointly with two other academics and is currently being revised to be resubmitted for publication. This paper is titled “Regime Switches in Property Market Risk Premiums: Some International Comparisons”.
Publications
Research books
Terry, C.S., Hutcheson, T.J. & Hunt, B.F. 2000, Introduction to the financial system, Nelson Thomson Learning, South Melbourne, Australia.
Refereed journal articles
Wilson, P.J., Okunev, J., Hutcheson, T.J. & Zurbruegg, R. 2004, 'Regime switching in the real estate risk premium.', Pacific Rim Property Research Journal, vol. 10, no. 2, pp. 168-192.
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Hutcheson, T.J. 2003, 'Exchange rate movements as explained by dealers', Economic Papers, vol. 22, no. 3, pp. 35-46.
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View description>>
Theoretically, the value of a currency is determined by the economic fundamentals of its country, such as interest rates, inflation rates and national income. These fundamentals have an effect on trade and capital flows and hence the demand and supply of the currency. However, there have been many well-known episodes when real exchange rates have moved contrary to these fundamentals for lengthy periods of time (Krugman, 1989). Attempts using empirical models to test economic fundamentals as a basis for predicting exchange rate movements have not been very successful especially over the short run (Taylor, 1995). Furthermore, market practitioners have successfully developed and implemented profitable trading strategies, which do not rely on economic fundamentals. One reason for the poor performance of trading activities based on fundamental analysis could be the behaviour of practitioners trading in the foreign exchange market (Krugman, 1989). For example, some practitioners may trade tactically in a way that forces an exchange rate to move away from its fundamental value. These practitioners would then establish a currency position that becomes profitable once general market trading moves the exchange rate back towards its true value
Wilson, P.J., Okunev, J. & Hutcheson, T.J. 2003, 'Predicting behaviour in Australian securitised property markets', Australian Property Journal, vol. 37, no. 8, pp. 574-577.
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Hutcheson, T.J. 2001, 'Trading in Foreign Exchange', Economic Papers, vol. 20, no. 2, pp. 13-25.
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Hutcheson, T.J. & Sharpe, I.G. 1998, 'Ownership structure and building society efficiency', Australian Journal of Management, vol. 23, no. 2, pp. 151-168.
