Exchange rate theory and practice / edited by John F. O. Bilson and Richard C. Marston.

Format:

Book

Author/Creator:

Bilson, John F. O.

Contributor:

Bilson, John F. O.

Marston, Richard C.

National Bureau of Economic Research.

Series:

Conference report (National Bureau of Economic Research (U.S.))

A National Bureau of Economic Research conference report

Language:

English

Subjects (All):

Foreign exchange futures--Congresses.

Foreign exchange futures.

Physical Description:

1 online resource (542 pages) : illustrations

Edition:

1st ed.

Place of Publication:

Chicago : University of Chicago Press, 1984.

Language Note:

English

Summary:

This 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.

Contents:

Front matter

Contents

Introduction

1. The Theory of Exchange Rate Determination

2. Exchange Rate Policy after a Decade of "Floating' '

3. International Interest Rate and Price Level Linkages under Flexible Exchange Rates: A Review of Recent Evidence

4. Properties of Innovations in Spot and Forward Exchange Rates and the Role of Money Supply Processes

5. Exchange Rate Dynamics

6. International Portfolio Diversification: Short-Term Financial Assets and Gold

7. Tests of Monetary and Portfolio Balance Models of Exchange Rate Determination

8. The International Role of the Dollar: Theory and Prospect

9. Real Exchange Rates in the 1970's

10. The Real Exchange Rate, the Current Account, and the Speed of Adjustment

11. Exchange Market Intervention Operations: Their Role in Financial Policy and Their Effects

12. Exchange Rate Unions as an Alternative to Flexible Rates: The Effects of Real and Monetary Disturbances

13. Multilateral Exchange Rate Determination: A Model for the Analysis of the European Monetary System

14. Effects of United States Monetary Restraint on the DM/ Exchange Rate and the German Economy

15. The Relationship between Exchange Rate Policy and Monetary Policy in Ten Industrial Countries

Contributors

Name Index

Subject Index

Notes:

Papers presented at a conference held in Jan. 1982 at the Rockefeller Foundation's Bellagio Conference Center on Lake Como in northern Italy, and sponsored by the National Bureau of Economic Research.

Includes bibliographies and indexes.

ISBN:

9786611224158

9781281224156

1281224154

9780226050997

0226050998

OCLC:

261341660