Exchange rate economics is an important field of investigation for academics, professionals and policy-makers. This book provides a comprehensive survey of the theory of and empirical evidence on the determination and effects of exchange rates. The exposition utilizes both diagrammatic and mathematical representations of the underlying models. The book is a comprehensive reference for those engaged in this field of research.     Why Do We Study Exchange Rates?   Exchange Rate Determination in the Mundell-Fleming Model   The Flexible-Price Monetary Model of Exchange Rates   The Theory of the Balance of Payments   Exchange Rate Determination in the Dornbusch Model   Other Sticky-Price Monetary Models of Exchange Rates   The Monetary Model of Exchange Market Pressure   The Portfolio Balance Model of Exchange Rates   The Currency Substitution Model of Exchange Rates   The Microstructure Approach to Exchange Rates   The News Model of Exchange Rates   Empirical Evidence on the Macroeconomic Models of Exchange Rates   Empirical Evidence on the Microstructure Models of Exchange Rates   Concluding Thoughts and Remarks

The Theory and Empirics of Exchange Rates PDF

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