Lucio Sarno, Mark P. Taylor

The Economics of Exchange Rates

Mitarbeit: Frankel, Jeffery A.

• Broschiertes Buch

Produktbeschreibung

In the last few decades exchange rate economics has seen a number of developments, with substantial contributions to both the theory and empirics of exchange rate determination. Important developments in econometrics and the increasingly large availability of high-quality data have also been responsible for stimulating the large amount of empirical work on exchange rates in this period. Nonetheless, while our understanding of exchange rates has significantly improved, a number of challenges and open questions remain in the exchange rate debate, enhanced by events including the launch of the Euro and the large number of recent currency crises. This volume provides a selective coverage of the literature on exchange rates, focusing on developments from within the last fifteen years. Clear explanations of theories are offered, alongside an appraisal of the literature and suggestions for further research and analysis.

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Produktdetails

• Verlag: Cambridge University Press
• Seitenzahl: 332
• Erscheinungstermin: 30. März 2017
• Englisch
• Abmessung: 244mm x 170mm x 18mm
• Gewicht: 672g
• ISBN-13: 9780521485845
• ISBN-10: 0521485843
• Artikelnr.: 12498426

Inhaltsangabe

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.

Rezensionen

'Sarno and Taylor's book is a tour de force. The exposition is comprehensive, covering contributions from all corners of the field, and covering the range from the seminal models of the 1970s to the latest discoveries on the theoretical and econometric frontiers of the 2000s. There is no excess verbiage or mathematics. Everything is there to serve a purpose. This is the current state of knowledge.' Jeffrey A. Frankel, Harvard University