The Economics of Exchange Rates (Collected Works of Harry Johnson): Selected St [Hardcover]

The studies in this book deal with the determination of foreign exchange rates and the characteristics of the foreign exchange market. Analysis is made of flexible exchange rates through an approach developed by the authors, called the asset-market approach. Theory is combined with practical application in a clear concise way that will be understood by readers with a basic understanding of economics.

1. A Monetary Approach to the Exchange Rate: Doctrinal Aspects and Empirical Evidence 2. The Theory of Flexible Exchange Rate Regimes and Macroeconomic Policy 3. The Exchange Rate, the Balance of Payments and Monetary and Fiscal policy Under a Regime of Controlled Floating 4. Contracting and Spurious Deviations From Purchasing-Power Parity 5. Rational Expectations and the Exchange Rate 6. An Empirical Analysis of the Monetary Approach to the Determination of the Exchange Rate 7. Exchange Restrictions and the Monetary Approach to the Exchange Rate 8. Tests of Forecasting Models and Market Efficiency in the International Money Market 9. Risk, Information and Forward Exchange Rates 10. A Stock Adjustment Approach to Monetary Policy and the Balance of Payments 11. Devaluation in an Empirical General Equilibrium Model.

The studies in this book deal with the determination of foreign exchange rates and the characteristics of the foreign exchange market. Analysis is made of flexible exchange rates through an approach developed by the authors, called the asset-market approach. Theory is combined with practical application in a clear concise way that will be understood by readers with a basic understanding of economics.

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