Presents recent developments in theory and empirics of exchange rate economics.
This book is a survey of exchange-rate economics. Using the latest econometric techniques, it covers the main theories that explain the determination of exchange rates and utilizes recent empirical data on exchange rate behavior.
Inhaltsverzeichnis
1. Introduction; 2. Foreign exchange market efficiency; 3. Purchasing power parity and the real exchange rate; 4. Exchange rate determination: theories and evidence; 5. New open economy macroeconomics; 6. Currency unions, pegged exchange rates, and target zone models; 7. Official intervention in the foreign exchange market; 8. Models of currency crisis and speculative attack; 9. Foreign exchange market microstructure.
