1. Introduction: Some Basic Concepts and Stylised facts and the Case For
(and Against) Floating Exchange Rates 2. Purchasing Power Parity and the
PPP Puzzle 3. The Economics of the PPP Puzzle 4. The Flexible Price
Monetary Model 5. The Sticky Price Monetary Model 6. Empirical Evidence on
the Monetary Exchange Rate Model 7. Currency Substitution and Portfolio
Balance Models 8. Real Exchange Rate Determination: Theory and Evidence 9.
Equilibrium Exchange Rates: Measurement and Misalignment 10. The New Open
Economy Macroeconomics and Exchange Rate Behaviour 11. The New Open Economy
Macroeconomics: Pricing to Market and Exchange Rate Volatility Redux 12.
The Economics of Fixed Exchange Rates, Part 1: Target Zone Models 13. The
Economics of Fixed Exchange Rates, Part 2: Speculative Attack Models and
Contagion 14. The Market Microstructure Approach to the Foreign Exchange
Market 15. Spot and Forward Exchange Rates and the Forward Premium Puzzle