Exchange Rates and International Finance

Laurence Copeland

493 pages, parution le 20/02/2004 (3^eme édition)

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Résumé

The third edition of this successful text continues to make accessible the theories and models, causes and consequences of exchange rate fluctuations. Written in a clear and concise style Exchange Rates and International Finance will enable readers to grasp the essentials of exchange rate theory.

New to this edition:

A new chapter on economics of currency unions, focusing on the proposed European union.
Improved pedagogy and clearer design and layout.
Expansion of transaction costs, coverage of EMU and EMS and financial futures.
Addition of Target Zones and Monetary Policy.
More information on the IMS and the IMF.
Greater inclusion of IT.

Features:

The orientation of the book is towards exchange rate determination, rather than policy issues, with particular emphasis given to the contributions of modern finance theory.
Both fixed anf floating exchange rate models and empirical results are explored and discussed.
A clear, non-technical explanation of the issues, emphasising intuitive explanations using a minimum of mathematics.
Demonstrates the links between macroeconomics and exchange rate determination.
Provides a thorough grounding in exchange rate issues.

Sommaire

Introduction
Part I The International Setting
- Prices in the open economy: purchasing power parity
- The financial markets in the open economy
- Open economy macroeconomics
Part IIExchange rates determination
- Flexible prices: the monetary model
- Fixed prices: the Mundell-Fleming model
- Sticky prices: the Dornbush model
- Portfolio balance and the current account
- Currency substitution
- Optimum currency areas and monetary union
Part III A world of uncertainty
- Market efficiency and rational expectations
- The "news" model and exchange rate volatility
- The risk premium
- A certain uncertainty: non-linearity, cycles and chaos
- Target zones
- Crises and credibility
Part IV Conclusions
- Conclusions
- Appendix
- Index

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Caractéristiques techniques

	PAPIER
Éditeur(s)	Prentice Hall
Auteur(s)	Laurence Copeland
Parution	20/02/2004
Édition	3^eme édition
Nb. de pages	493
Format	17 x 23,5
Couverture	Broché
Poids	845g
Intérieur	Noir et Blanc
EAN13	9780201398502