Exchange Rate Economicsby Peter Isard
Pub. Date: 10/28/2003
Publisher: Cambridge University Press
Providing a wide-ranging survey of the different theories that attempt to explain the behavior of exchange rates, this text outlines the salient institutional characteristics of the modern foreign exchange market in the context of an evolving international monetary system.
Table of Contents
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.
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