Exchange Rate Economics

ISBN-13: 9780521466004 / Angielski / Miękka / 1995 / 292 str.

Peter Isard; John Pencavel

Opis

This book describes and evaluates the literature on exchange rate economics. It provides a wide-ranging survey of the different theories that attempt to explain the behavior of exchange rates, and outlines the salient institutional characteristics of the modern foreign exchange market in the context of an evolving international monetary system. An important feature of the book is its emphasis throughout on the main policy issues relating to the stabilization of exchange rates. The level of exposition is relatively nontechnical, and will be intelligible to undergraduate students.

Recenzje

'… provides an extremely well written and complete overview of exchange rates and exchange rate models ... an excellent work of reference.' Economic Journal

Spis treści

Preface; 1. Introduction; PART I. HISTORICAL aND INSTITUTIONAL PERSPECTIVES: 2. Foreign exchange markets and the marketability of money; 3. Exchange rate arrangements and international monetary regimes; PART II. MODELS oF EXCHANGE RATE BEHAVIOR: 4. Exchange rates and national price levels; 5. Exchange rates and interest rates; 6. Exchange rates and the balance of payments; 7. News, revisions in expectations, and exchange rate dynamics; 8. Empirical estimates of structural exchange rate models; 9. New perspectives from optimizing models of realignments under fixed exchange rates; 10. New directions for conceptual models of flexible exchange rates; PART III. EXCHANGE RATE POLICY: 11. The choice of exchange rate arrangements; 12. Policy-oriented perspectives on exchange rate stability; References; Index of authors; Index of subjects.