This volume is intended to provide a survey of thought about exchange-rate determination as it emerged in the decade of the 1970s. This survey differs from many, however, in that the field itself is in a state of rapid change. Understanding the changes and the reasons for them is therefore essential if the reader is to have a basis for understanding future advances in knowledge and the further evolution of the system. The survey is also intended to reach non-specialist professional economists whose balance-of-payments theory was learned before the 1970s, as well as to provide graduate students and advanced undergraduates with an up-to-date account of the field. In most respects, the theory of exchange-rate determination is based upon an analytical structure equivalent to that analyzing the determinants of the balance of payments under fixed exchange rates. The difference is that the shifts in excess demand for foreign exchange lead to quantity adjustments under fixed rates and price adjustment under flexible rates. Thus, attention turns first to exchange-rate, or balance-of-payments, determination. Thereafter formal analyses of differences and similarities between the functioning of the alternative systems are considered, reflecting the focus of the profession and the mainstream of research of this period.
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Book Description
The behavior of the international monetary system and the evolution of economists' ideas about it in the postwar period make a fascinating case study. This volume provides a survey of thought in this field as it emerged during the 1970s.
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This review is from: Exchange-Rate Determination (Cambridge Surveys of Economic Literature) (Paperback)
It's the greatest book about Exchage Rate (ER) Determination, Krueger wrote an excellent classical book. This is a survey about the principal theories about the determination of ER, it's very easy to understand and important consults item.
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To anyone interested in the question whether ideas influence events or events determine ideas, the behavior of the international monetary system and the evolution of economists' ideas about it in the period since World War II should make a fascinating case study. Read the first page Key Phrases - Statistically Improbable Phrases (SIPs): (learn more)
insulation question, acceleration hypothesis, monetary approach, devaluing country, intertemporal utility maximization, nontraded goods, capital immobility, classical unemployment, flexible rates, real cash balances, domestic price level, flexible exchange rates, excess demand for labor, real exchange rate, nominal balances, elasticities approach, domestic residents, desired transactions, equilibrium exchange rate, foreign price level, macroeconomic structure, foreign output, perfect capital mobility Key Phrases - Capitalized Phrases (CAPs): (learn more)
Bretton Woods, Central Bank, World War, International Monetary Fund, South Korea New!
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Front Cover | Table of Contents | First Pages | Index | Back Cover | Surprise Me!
To anyone interested in the question whether ideas influence events or events determine ideas, the behavior of the international monetary system and the evolution of economists' ideas about it in the period since World War II should make a fascinating case study. Read the first page Key Phrases - Statistically Improbable Phrases (SIPs): (learn more)
insulation question, acceleration hypothesis, monetary approach, devaluing country, intertemporal utility maximization, nontraded goods, capital immobility, classical unemployment, flexible rates, real cash balances, domestic price level, flexible exchange rates, excess demand for labor, real exchange rate, nominal balances, elasticities approach, domestic residents, desired transactions, equilibrium exchange rate, foreign price level, macroeconomic structure, foreign output, perfect capital mobility Key Phrases - Capitalized Phrases (CAPs): (learn more)
Bretton Woods, Central Bank, World War, International Monetary Fund, South Korea New!
Books on Related Topics | Concordance | Text Stats Browse Sample Pages:
Front Cover | Table of Contents | First Pages | Index | Back Cover | Surprise Me!
Citations (learn more)
This book cites 19
books:
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2
books
cite this book:
- International Economics (Recent Economic Thought) by Lawrence A. Officer on page 66, and Back Matter
- Economic Stabilization in Developing Countries by William R. Cline in Back Matter (1), and Back Matter (2)
- Economics of Exchange Rates (Addison-Wesley Series in Economics) in Back Matter (1), and Back Matter (2)
- International Economics (Foundations of Modern Economics) by Peter B. Kenen in Back Matter (1), and Back Matter (2)
- International Economic Policy: Theory and Evidence by Professor Rüdiger Dornbusch in Back Matter
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