Exchange Rate Economics

Exchange Rate Economics

by Peter Isard
     
 

ISBN-10: 0521460476

ISBN-13: 9780521460477

Pub. Date: 10/28/2003

Publisher: Cambridge University Press

This book describes and evaluates the literature on exchange rate economics. It provides a wide-ranging survey, with background on the history of international monetary regimes and the institutional characteristics of foreign exchange markets, an overview of the development of conceptual and empirical models of exchange rate behavior, and perspectives on the key…  See more details below

Overview

This book describes and evaluates the literature on exchange rate economics. It provides a wide-ranging survey, with background on the history of international monetary regimes and the institutional characteristics of foreign exchange markets, an overview of the development of conceptual and empirical models of exchange rate behavior, and perspectives on the key issues that policymakers confront in deciding whether, and how, to try to stabilize exchange rates. The treatment of most topics is reasonably compact, with extensive references to the literature for those desiring to pursue individual topics further. The level of exposition is relatively easy to comprehend; the historical and institutional material (part I) and the discussion of policy issues (part III) contain no equations or technical notation, while the chapters on models of exchange rate behavior (part II) are written at a level intelligible to first-year graduate students or advanced undergraduates. The book will enlighten both students and policymakers, and should also serve as a valuable reference for many research economists.

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Product Details

ISBN-13:
9780521460477
Publisher:
Cambridge University Press
Publication date:
10/28/2003
Series:
Cambridge Surveys of Economic Literature Series
Pages:
292
Product dimensions:
5.98(w) x 8.98(h) x 0.83(d)

Table of Contents

List of figures
List of tables
Preface
1Introduction1
2Foreign exchange markets and the marketability of money11
3Exchange rate arrangements and international monetary regimes24
4Exchange rates and national price levels57
5Exchange rates and interest rates74
6Exchange rates and the balance of payments90
7News, revisions in expectations, and exchange rate dynamics117
8Empirical estimates of structural exchange rate models132
9New perspectives from optimizing models of realignments under fixed exchange rates148
10New directions for conceptual models of flexible exchange rates168
11The choice of exchange rate arrangements187
12Policy-oriented perspectives on exchange rate stability216
References237
Index of authors267
Index of subjects272

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