Exchange rate economics is an important field of investigation for academics, professionals and policy-makers. This book provides a comprehensive survey of the theory of and empirical evidence on the determination and effects of exchange rates. The exposition utilizes both diagrammatic and mathematical representations of the underlying models. The book is a comprehensive reference for those engaged in this field of research.Contents:Why Do We Study Exchange Rates?Exchange Rate Determination in the Mundell-Fleming ModelThe Flexible-Price Monetary Model of Exchange RatesThe Theory of the Balance of PaymentsExchange Rate Determination in the Dornbusch ModelOther Sticky-Price Monetary Models of Exchange RatesThe Monetary Model of Exchange Market PressureThe Portfolio Balance Model of Exchange RatesThe Currency Substitution Model of Exchange RatesThe Microstructure Approach to Exchange RatesThe News Model of Exchange RatesEmpirical Evidence on the Macroeconomic Models of Exchange RatesEmpirical Evidence on the Microstructure Models of Exchange RatesConcluding Thoughts and RemarksReadership: Graduate students and researchers in international finance and open-economy macroeconomics; policy-makers in central and treasury banks; professional economists and forecasters.
THEORY AND EMPIRICS OF EXCHANGE RATES, THE
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