The Theory And Empirics Of Exchange Rates.

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 mathemati...

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Detalles Bibliográficos
Clasificación:Libro Electrónico
Formato: Electrónico eBook
Idioma:Inglés
Publicado: World Scientific 2009.
Temas:
Foreign exchange rates.
Foreign exchange.
Foreign exchange rates > Mathematical models.
Taux de change.
Change.
Taux de change > Modèles mathématiques.
Foreign exchange
Foreign exchange rates
Foreign exchange rates > Mathematical models
Electronic resource.
Acceso en línea:Texto completo
Tabla de Contenidos:
  • Cover13;
  • Contents
  • Preface
  • List of Tables
  • List of Figures
  • List of Acronyms
  • Currency Abbreviations
  • 1. Why DoWe Study Exchange Rates?
  • 1.1. Introduction
  • 1.2. The Importance of Exchange Rates
  • 1.2.1. The Exchange Rate and Business Operations
  • 1.2.2. The Exchange Rate and Macroeconomic Policy
  • 1.2.3. Macroeconomic Linkages Through Exchange Rates
  • 1.3. Stylized Facts and Figures
  • 1.3.1. Stylized Facts: Exchange Rates Only
  • 1.3.2. Stylized Facts: Spot Rates, Forward Rates, and Macroeconomic Variables
  • 1.4. Exchange Rates and Other Financial Prices: The Subprime Crisis as an Example
  • 1.5. Exchange Rate Regimes
  • 1.5.1. Exchange Rate Regime Classification
  • 1.5.2. Exchange Rate Regime Verification
  • 1.6. What Is to Come
  • 2. Exchange Rate Determination in the Mundell8211;Fleming Model
  • 2.1. Introduction
  • 2.2. Disequilibrium Systems and Alternative Adjustment Mechanisms
  • 2.3. Efficacy of Fixed and Flexible Exchange Rates
  • 2.4. Dynamic Adjustment Under Fixed and Flexible Exchange Rates
  • 2.5. Dynamic Adjustment and the Role of Capital Mobility
  • 2.6. The Appropriate Use of Monetary and Fiscal Policies
  • 2.7. Stabilization Policies Under Fixed and Flexible Exchange Rates
  • 2.8. The Standard Mundell8211;Fleming Model
  • 2.8.1. Fundamental Propositions of the Mundell8211; Fleming Model
  • 2.8.2. The Structure of the Mundell8211;Fleming Model
  • 2.9. The Reduced Form Equation of the Equilibrium Exchange Rate
  • 2.9.1. The Current Account
  • 2.9.2. The Capital Account
  • 2.10. Stabilization Policies Under Alternative Exchange Rate Regimes
  • 2.10.1. Fixed Exchange Rates, Capital Mobility and Stabilization Policies
  • 2.10.2. Flexible Exchange Rates, Capital Mobility, and Stabilization Policies
  • 2.11. A Critique of Mundells Results About Stabilization Policies
  • 2.11.1. McLeods Critique of Mundells Results
  • 2.11.2. Niehanss Doubts About the Efficacy of Monetary Policy
  • 2.12. Recapitulation
  • 3. The Flexible-Price Monetary Model of Exchange Rates
  • 3.1. Introduction
  • 3.2. Key Propositions of the Flexible-Price Monetary Model
  • 3.3. The Specification of the Flexible-Price Monetary Model
  • 3.4. A Digrammatic Representation of the Flexible-Price Monetary Model
  • 3.5. Some Variants of the Flexible-Price Monetary Model
  • 3.5.1. The Rational Expectations Monetary Model
  • 3.5.2. Frankels Flexible-Price Monetary Model with aWealth Effect
  • 3.5.3. A General Monetary Model of Exchange Rates
  • 3.6. Policy Implications of the Flexible-Price Monetary Model
  • 3.7. Recapitulation
  • 4. The Theory of the Balance of Payments
  • 4.1. The Price-Specie Flow Mechanism
  • 4.2. The Elasticities Approach and the J-Curve Effect
  • 4.3. The Keynesian Multiplier Approach
  • 4.4. The Income Absorption Approach
  • 4.5. The Monetary Approach to the Balance of Payments
  • 4.5.1. Fundamental Propositions of the Monetary Approach
  • 4.5.2. A Simple Monetary Model of the Balance of Payments
  • 4.5.3. A Diagrammatic Representation of the Monetary Approach
  • 4.5.4. An Expanded Monetary Model of the Balance of Payments
  • 4.5.5. Policy Implications of the Monetary Approach
  • 4.6. A Comparison of the Monetary and Keynesian Models
  • 4.7. A Synthesis of Monetary and Keynesian Approaches
  • 4.8. Recapitulation
  • 5. Exchange Rate Determination in the Dornbusch Model
  • 5.1. Introduction
  • 5.2. Fundamental Pr.

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