The Economics of Exchange Rates

ISBN-13: 9780521485845 / Angielski / Miękka / 2003 / 332 str.

Lucio Sarno; Mark Taylor; Jeffrey A. Frankel

Opis

This book is a survey of exchange-rate economics. Using the latest econometric techniques, it covers the main theories that explain the determination of exchange rates and utilizes recent empirical data on exchange rate behavior.

Recenzje

'Sarno and Taylor develop carefully all the exchange-rate research issues of the last 20 years - from historical background through modern-methods applications up to empirical results. The Economics of Exchange Rates will be indispensable on the bookshelves of academics and international policymakers.' Robert P Flood, Editor, IMF Staff Papers

Spis treści

1. Introduction; 2. Foreign exchange market efficiency; 3. Purchasing power parity and the real exchange rate; 4. Exchange rate determination: theories and evidence; 5. New open economy macroeconomics; 6. Currency unions, pegged exchange rates, and target zone models; 7. Official intervention in the foreign exchange market; 8. Models of currency crisis and speculative attack; 9. Foreign exchange market microstructure.