Exchange Rate Determination and Adjustment
Author: Jagdeep S. Bhandari
Publisher: Greenwood
Published: 1982
Total Pages: 294
ISBN-13:
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Exchange-Rate Determination
Author: Anne O. Krueger
Publisher: Cambridge University Press
Published: 1983-03-31
Total Pages: 236
ISBN-13: 9780521273015
DOWNLOAD EBOOKThis volume provides a survey of thought about exchange-rate determination as it emerged in the 1970s.
Real Exchange Rates, Devaluation, and Adjustment
Author: Chief Economist Latin America and Caribbean Region Sebastian Edwards
Publisher:
Published: 1989-08-04
Total Pages: 0
ISBN-13: 9780262519014
DOWNLOAD EBOOKReal Exchange Rates, Devaluation, and Adjustment provides a unified theoretical and empirical investigation of exchange rate policy and performance in scores of developing countries. It develops a theory of equilibrium and disequilibrium real exchange rates, takes up the question of why devaluations are the most controversial policy measures in poorer nations, and discusses what determines their success or failure. In a lucid fashion, Edwards organizes vast amounts of data on exchange rates - both real and nominal - and discusses their effect on net trade balances, net asset positions, output growth, real wages, and rates of price inflation, analyzed both in time series and through cross country comparisons. Edwards's investigation singles out 39 major devaluation episodes for before and after comparative analyses while simultaneously isolating the separate effects of other important explanatory variables, such as bank credit expansion and changes in the terms of trade. The first part of the book focuses on theoretical models of devaluation and real exchange rate behavior in less developed countries. Special attention is paid to intertemporal channels in the transmission of disturbances. The second part uses a large cross country data set to analyze the way the real exchange rate has behaved in these nations. The data are also used to test the implications of several theories of real exchange rate determination. The third part analyzes actual devaluation experiences between 1962 and 1982. These chapters examine the events leading to a balance of payments crisis and to a devaluation, exploring the relation between macroeconomic disequilibrium, and the imposition of trade and exchange controls. They also investigate the effect of nominal devaluation on key variables such as the balance of payments, the current account, the real exchange rate, real output real wages, and income distribution.
Exchange Rate Economics
Author: Ronald MacDonald
Publisher: Routledge
Published: 2007-03-12
Total Pages: 465
ISBN-13: 1134801254
DOWNLOAD EBOOKFirst published in 2007. Exchange Rate Economics: Theories and Evidence is the second edition of Floating Exchange Rates: Theories and Evidence, and builds on the successful content and structure of the previous edition, but has been comprehensively updated and expanded to include additional literature on the determination of both fixed and floating exchange rates. Core topics covered include: • the purchasing power parity hypothesis and the PPP puzzle; • the monetary and portfolio-balance approaches to exchange rates; • the new open economy macroeconomics approach to exchange rates; and • the determination of exchange rates in target zone models and speculative attack models. Exchange Rate Economics: Theories and Evidence also includes extensive discussion of recent econometric work on exchange rates with a particular focus on equilibrium exchange rates and measuring exchange rate misalignment, as well as discussion on the non-fundamentals-based approaches to exchange rate behaviour, such as the market microstructure approach. The book will appeal to academics and postgraduate students with an interest in all aspects of international finance and will also be of interest to practitioners concerned with issues relating to equilibrium exchange rates and the forecastability of currencies in terms of macroeconomic fundamentals.
Exchange Rate Determination in the Process of International Adjustment Under Conditions of Full Employment
Author: Francis Joseph Deastlov
Publisher:
Published: 1986
Total Pages: 652
ISBN-13:
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Author: John F. Bilson
Publisher: University of Chicago Press
Published: 2007-12-01
Total Pages: 542
ISBN-13: 0226050998
DOWNLOAD EBOOKThis volume grew out of a National Bureau of Economic Research conference on exchange rates held in Bellagio, Italy, in 1982. In it, the world's most respected international monetary economists discuss three significant new views on the economics of exchange rates - Rudiger Dornbusch's overshooting model, Jacob Frenkel's and Michael Mussa's asset market variants, and Pentti Kouri's current account/portfolio approach. Their papers test these views with evidence from empirical studies and analyze a number of exchange rate policies in use today, including those of the European Monetary System.
The Economics of Exchange Rates (Collected Works of Harry Johnson)
Author: Jacob A. Frenkel
Publisher: Routledge
Published: 2013-07-18
Total Pages: 252
ISBN-13: 1135039461
DOWNLOAD EBOOKThe studies in this book deal with the determination of foreign exchange rates and the characteristics of the foreign exchange market. Analysis is made of flexible exchange rates through an approach developed by the authors, called the ‘asset-market approach’. Theory is combined with practical application in a clear concise way that will be understood by readers with a basic understanding of economics.
The Monetary Approach to the Balance of Payments
Author: Jacob Frenkel
Publisher: Routledge
Published: 2013-07-18
Total Pages: 389
ISBN-13: 1135043493
DOWNLOAD EBOOKThis book collects together the basic documents of an approach to the theory and policy of the balance of payments developed in the 1970s. The approach marked a return to the historical traditions of international monetary theory after some thirty years of departure from them – a departure occasioned by the international collapse of the 1930s, the Keynesian Revolution and a long period of war and post-war reconstruction in which the international monetary system was fragmented by exchange controls, currency inconvertibility and controls over international trade and capital movements.
The Theory And Empirics Of Exchange Rates
Author: Imad A Moosa
Publisher: World Scientific
Published: 2009-07-15
Total Pages: 512
ISBN-13: 9814468509
DOWNLOAD EBOOKExchange 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.
The Microstructure of Foreign Exchange Markets
Author: Jeffrey A. Frankel
Publisher: University of Chicago Press
Published: 2009-05-15
Total Pages: 358
ISBN-13: 0226260232
DOWNLOAD EBOOKThe foreign exchange market is the largest, fastest-growing financial market in the world. Yet conventional macroeconomic approaches do not explain why people trade foreign exchange. At the same time, they fail to explain the short-run determinants of the exchange rate. These nine innovative essays use a microstructure approach to analyze the workings of the foreign exchange market, with special emphasis on institutional aspects and the actual behavior of market participants. They examine the volume of transactions, heterogeneity of traders, the time of day and location of trading, the bid-ask spread, and the high level of exchange rate volatility that has puzzled many observers. They also consider the structure of the market, including such issues as nontransparency, asymmetric information, liquidity trading, the use of automated brokers, the relationship between spot and derivative markets, and the importance of systemic risk in the market. This timely volume will be essential reading for anyone interested in the economics of international finance.
