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Author: Barry Eichengreen
Publisher: Cambridge University Press
ISBN: 9780521448475
Category : Business & Economics
Languages : en
Pages : 356
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Book Description
A new interpretation of the operation and macroeconomic repercussions of the international monetary system during the interwar years.
Author: Barry Eichengreen
Publisher: Cambridge University Press
ISBN: 9780521448475
Category : Business & Economics
Languages : en
Pages : 356
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Book Description
A new interpretation of the operation and macroeconomic repercussions of the international monetary system during the interwar years.
Author: Graham Bird
Publisher: Springer
ISBN: 1349095885
Category : Business & Economics
Languages : en
Pages : 308
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Book Description
This collection of articles and papers has been organised under a limited number of specific themes in international financial economics, including balance of payment theory and policy, the activities of the IMF, Special Drawing Rights, the role of the private financial markets, and the international economic order. A unifying theme running through all the essays is that some degree of management of international financial affairs is desirable. The book has a strong policy orientation and should be of interest to students and practitioners of international financial economics alike.
Author:
Publisher:
ISBN:
Category : Banks and banking, International
Languages : en
Pages : 770
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Book Description
Author: Michael D. Bordo
Publisher: University of Chicago Press
ISBN: 0226066894
Category : Business & Economics
Languages : en
Pages : 288
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Book Description
This volume provides a critical evaluation of Anna J. Schwartz's work and probes various facets of the immense contribution of her scholarship—How well has it stood the test of time? What critiques have been leveled against it? How has monetary research developed over the years, and how has her influence been manifested? Bordo has collected five conference papers presented by leading monetary scholars, discussants' comments, and closing remarks by Milton Friedman and Karl Brunner. Each of these insightful surveys extends Schwartz's work and makes its own contribution to the fields of monetary history, theory, and policy. The volume also contains a foreword by Martin Feldstein and a selected bibliography of publications by Anna Schwartz.
Author: Mr.Peter Isard
Publisher: International Monetary Fund
ISBN: 9781557758347
Category : Business & Economics
Languages : en
Pages : 304
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Book Description
This book contains the proceedings of a conference held in honor of Robert P. Flood Jr. Contributors to the conference were invited to address many of the topics that Robert Flood has explored including regime switching, speculative attacks, bubbles, stock market voloatility, macro models with nominal rigidities, dual exchange rates, target zones, and rules versus discretion in monetary policy. The results, contained in this volume, include five papers on topics in international finance.
![Essays in International Finance. no. 2 [etc.]. PDF](https://books.google.com/books/content/images/frontcover/eyr5MgEACAAJ?fife=w80-h100)
Author: Princeton University (PRINCETON, N.J.). Department of Economics and Sociology. International Finance Section
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
Author: James R Lothian
Publisher: World Scientific
ISBN: 9813148314
Category : Business & Economics
Languages : en
Pages : 820
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Book Description
The aim of the book is to make the author's scholarly research in the areas of international finance and monetary economics easily accessible to other researchers and students. The articles included in the book span a wide range. The topics include the behavior of the three key relations in international finance, purchasing power parity, interest rate parity and real interest rate equality, the relation between money and other key economic variables, financial globalization and the transmission of economic disturbances internationally.
Author: Peter B. Kenen
Publisher: Princeton University Press
ISBN: 0691196605
Category : Business & Economics
Languages : en
Pages : 272
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Book Description
Written form 1957 through 1978 by one of the foremost authorities in the field of international economics, this collection of Peter Kenen's previously published essays deals with issues in the pure theory of international trade, international monetary theory, and international monetary reform. The essays in Part I, "Trade, Tariffs, and Welfare," concern the roles of tangible and human capital in the determination of trade patterns, the joint determination of demand conditions and trade patterns, the gains from international trade, and the effects of migration on economic welfare. Part II, "International Monetary Theory and Policy," contains essays on the theory of gold-exchange standard, the determination of forward exchange rates, the demand for international reserves, economic integration and the delineation of currency areas, and the process of balance of payments adjustment under pegged and floating exchange rates. The essays in Part III, "Monetary Reform and the Dollar," are arranged in chonological order, from 1963 through 1977, and focus on the problems and progress of international monetary reform and on the functioning of the present international monetary system. Peter B. Kenen is Walker Professor of Economics and International Finance at Princeton University. The Princeton Sereies of Collected Essays provides facsimile reprints, in paperback and in cloth, of important articles by leading scholars. Originally published in 1981. The Princeton Legacy Library uses the latest print-on-demand technology to again make available previously out-of-print books from the distinguished backlist of Princeton University Press. These editions preserve the original texts of these important books while presenting them in durable paperback and hardcover editions. The goal of the Princeton Legacy Library is to vastly increase access to the rich scholarly heritage found in the thousands of books published by Princeton University Press since its founding in 1905.
Author: Byong-Ju Lee
Publisher: Stanford University
ISBN:
Category :
Languages : en
Pages : 132
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Book Description
This thesis consists of three essays on international finance. The first essay is "Exchange rates and Fundamentals". A new open interest rate parity condition that takes account of economic fundamentals is developed from stochastic discount factors (SDFs) of two countries. Through this parity condition, business cycles or fundamentals are linked to exchange rates. Key empirical findings from this parity condition are as follows. First, this model beats the random walk hypothesis: economic fundamentals explain exchange rate movements for high interest rate currencies. Exchange rates of low interest rate currencies act like a random walk because they are less correlated with fundamentals owing to their low risk. For example, U.S. business cycles explain the direction of changes in exchange rates against the dollar. The same thing is true for Japan. Second, this model resolves the forward premium puzzle: the forward premium puzzle is not a general characteristic as regarded in previous studies. It happens when the risk awareness of investors is low, during economic expansions and for low risk currencies. The second essay is "Carry Trade and Global Financial Instability". Carry trade, an opportunistic investment strategy that takes advantage of interest rate differential across countries, is identified the cause of the large-scale depreciations of peripheral currencies in the later half of 2008. A simultaneous equations model, which is derived from a conceptual partial equilibrium model for a local foreign exchange market, is estimated from a cross-sectional sample. The results suggest that the larger appreciation of the yen than the dollar was brought about by a lack of the local supply of the yen rather than a more severe crunch of yen credits. The third essay is "The Economic Origin of Letters of Credit". This essay discusses the economic origin of letters of credit, an instrument widely used in international trade. A game theoretical analysis shows that letters of credit improve efficiency in trade settlements, increasing returns in trade. A few notable facts on letters of credit are discussed. First, the new institution is adopted by merchant banks to maximize their profits and in the process, an improvement in efficiency of international transactions is obtained. Second, the organization established by the legacy institution, bills of exchange, played a critical role in adopting the new institution. Third, the legal enforcement is not essential in this economic institution. Finally, two drivers are identified that improve efficiency of transactions: concentration and projection.
Author: Mr.Mark P. Taylor
Publisher: International Monetary Fund
ISBN: 1451947038
Category : Business & Economics
Languages : en
Pages : 31
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Book Description
This paper contains essays on sterilized intervention, on covered interest rate parity, and on chartist analysis in financial markets. Each essay contains a definition, brief survey of the empirical evidence and overall assessment of each topic.
