Download or read book The Economics of Exchange Rates Collected Works of Harry Johnson written by Jacob A. Frenkel and published by Routledge. This book was released on 2013-07-18 with total page 252 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Download or read book The Forward Exchange Rate as a Predictor of the Future Spot Rate written by Cheol S. Eun and published by . This book was released on 1998 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Exchange Rate Forecasting Techniques Survey Data and Implications for the Foreign Exchange Market written by International Monetary Fund and published by International Monetary Fund. This book was released on 1990-05-01 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the dynamics of the foreign exchange market. The first half addresses a number of key questions regarding the forecasts of future exchange rates made by market participants, by means of updated estimates using survey data. Here we follow most of the theoretical and empirical literature in acting as if all market participants share the same expectation. The second half then addresses the possibility of heterogeneous expectations, particularly the distinction between “chartists” and “fundamentalists,” and the implications for trading in the foreign exchange market and for the formation of speculative bubbles.

Download or read book Exchange Rate Determination written by Anne O. Krueger and published by Cambridge University Press. This book was released on 1983-03-31 with total page 236 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume provides a survey of thought about exchange-rate determination as it emerged in the 1970s.

Download or read book Uncovered Interest Parity written by Mr.Peter Isard and published by International Monetary Fund. This book was released on 1991-05 with total page 14 pages. Available in PDF, EPUB and Kindle. Book excerpt: This note provides an overview of the uncovered interest parity assumption. It traces the history of the interest parity concept, summarizes evidence on the empirical validity of uncovered interest parity, and discusses the implications for macroeconomic analysis. The uncovered interest parity assumption has been an important building block in multiperiod and continuous time models of open economies, and although its validity is strongly challenged by the empirical evidence, its retention in macroeconomic models is supported on pragmatic grounds, at least for the time being, by the lack of much empirical support for existing models of the exchange risk premium.

Download or read book The Monetary Approach to the Balance of Payments written by Jacob Frenkel and published by Routledge. This book was released on 2013-07-18 with total page 389 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book collects together the basic documents of an approach to the theory and policy of the balance of payments developed in the 1970s. The approach marked a return to the historical traditions of international monetary theory after some thirty years of departure from them – a departure occasioned by the international collapse of the 1930s, the Keynesian Revolution and a long period of war and post-war reconstruction in which the international monetary system was fragmented by exchange controls, currency inconvertibility and controls over international trade and capital movements.

Download or read book The Foreign Exchange Market written by Richard T. Baillie and published by Cambridge University Press. This book was released on 1989 with total page 280 pages. Available in PDF, EPUB and Kindle. Book excerpt: The flotation of exchange rates in the early 1970s saw a significant increase in the importance of foreign exchange markets and in the interest shown in them. Apart from the consequent institutional changes, this period also witnessed a revolution in macroeconomic analysis and finance theory based on the concept of rational expectations. This book provides an integrated approach to recent developments in the understanding of foreign exchange markets. It begins by charting the institutional background and looks at the recent history of movements in some of the major exchange rates. The theoretical sections focus on the economic and finance theory of the asset market approach, the macroeconomic models developed from this approach, and on interest rate parity theory. The empirical chapters draw on the authors' own research from a high quality set of exchange rate and interest rate data. The statistical properties of exchange rates are analysed; the relationship between spot and forward rates is examined; and the modelling and impact of new information on the forward and spot relationship is considered. The final chapter is devoted to the estimation and testing of exchange rate models.

Download or read book Exchange Rate Economics written by Ronald MacDonald and published by Routledge. This book was released on 2005 with total page 334 pages. Available in PDF, EPUB and Kindle. Book excerpt: ''In summary, the book is valuable as a textbook both at the advanced undergraduate level and at the graduate level. It is also very useful for the economist who wants to be brought up-to-date on theoretical and empirical research on exchange rate behaviour.'' ""Journal of International Economics""

Download or read book Exchange Rate Expectations written by International Monetary Fund and published by International Monetary Fund. This book was released on 1990-06-01 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper presents a brief survey of the empirical literature on survey-based exchange rate expectations. The literature in general supports the presence of a non-zero risk premium and rejects the hypothesis of rational expectations. The crucial result is that, while short-run expectations tend to move away from some long-run “normal” values, long-run expectations tend to regress toward them. If this nature of short-run expectations increases the volatility of exchange rate movements, there may be a basis for some official measure to minimize short-run exchange rate movements.

Download or read book Exchange Rate Theory and Practice written by John F. Bilson and published by University of Chicago Press. This book was released on 2007-12-01 with total page 542 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume grew out of a National Bureau of Economic Research conference on exchange rates held in Bellagio, Italy, in 1982. In it, the world's most respected international monetary economists discuss three significant new views on the economics of exchange rates - Rudiger Dornbusch's overshooting model, Jacob Frenkel's and Michael Mussa's asset market variants, and Pentti Kouri's current account/portfolio approach. Their papers test these views with evidence from empirical studies and analyze a number of exchange rate policies in use today, including those of the European Monetary System.

Download or read book FUNDAMENTALS OF INTERNATIONAL FINANCIAL MANAGEMENT SECOND EDITION written by KEVIN, S. and published by PHI Learning Pvt. Ltd.. This book was released on 2022-10-01 with total page 322 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Second Edition of the book explains, with precision and clarity, the basic concepts, theories and practices of international financial management. As international transactions form an integral part of economic activities in the modern globalized economic environment, practising managers need to know the fundamentals of international finance. And this book, written by Professor S. Kevin, who has a rich and long experience in teaching international finance, eminently fulfils this need. The book begins with an explanation of the exchange rate mechanism of foreign currencies, factors influencing exchange rate fluctuations, and the trading mechanism in foreign exchange markets. As currency forwards, futures, options and swaps are the instruments of currency derivatives used as hedging and speculative tools, the book goes on to give a detailed description of the use of currency derivatives for hedging as well as speculative functions. It contains an analysis of international financial institutions and their functioning, the participants and instruments of global financial markets where international funds are raised, the many uses of international funds in the form of portfolio investments, and direct investments in host countries. The book is primarily intended as a text for postgraduate students of commerce and management, chartered accountancy (CA) and chartered financial analysis (CFA). It would also be of immense value to practising professionals in the field of international finance. KEY FEATURES • Illustrates the concepts with the help of examples, figures and tables. • Clearly explains risk management tools and techniques. • Discusses the role of international financial institutions in the global financial market. • Is a handy text for self-study. ADDITIONS IN SECOND EDITION • Exchange rates have been revised to current levels • Two new chapters on ‘International Projects and Portfolios’ and ‘ Practices and Problems of International Financial Management’ have been added

Download or read book International Financial Management written by Arthur I. Stonehill and published by Taylor & Francis. This book was released on 1993 with total page 406 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Estimating and Interpreting Forward Interest Rates written by Mr.Lars E. O. Svensson and published by International Monetary Fund. This book was released on 1994-09-01 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt: The use of forward interest rates as a monetary policy indicator is demonstrated, using Sweden 1992-1994 as an example. The forward rates are interpreted as indicating market expectations of the time-path of future interest rates, future inflation rates, and future currency depreciation rates. They separate market expectations for the short-, medium-, and long-term more easily than the standard yield curve. Forward rates are estimated with an extended and more flexible version of Nelson and Siegel’s functional form.

Download or read book Exchange Rate Economics written by Ronald MacDonald and published by Routledge. This book was released on 2002-09-26 with total page 278 pages. Available in PDF, EPUB and Kindle. Book excerpt: 'In summary, the book is valuable as a textbook both at the advanced undergraduate level and at the graduate level. It is also very useful for the economist who wants to be brought up-to-date on theoretical and empirical research on exchange rate behaviour.' "Journal of International Economics"

Download or read book International Financial Transactions and Exchange Rates written by I. Kallianiotis and published by Springer. This book was released on 2013-12-18 with total page 349 pages. Available in PDF, EPUB and Kindle. Book excerpt: International transactions among nations and multinational corporations are important and growing due to the openness of economies all over the world. In this follow-up title to Exchange Rates and International Financial Economics, Kallianiotis examines the role of the exchange rate and trade policy in improving the trade account. He discusses the international parity conditions extensively, together with the most popular theory in international finance, the interest rate parity (IRP) theory. International Financial Transactions and Exchange Rates describes these theories and gives practical solutions for multinational businesses, individuals, and nations. The increasing internationalization of businesses, openness of economies, integration of nations, change in the exchange rate system, and lastly, the deregulation of the financial market and institutions around the world have made the study of international finance necessary for all business students and professionals.

Download or read book International Financial Management written by Madhuvij and published by Excel Books India. This book was released on 2006 with total page 692 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book is fundamentally designed to serve as an introduction to the study of Multinational Financial Management for students and managers with little previous exposure to the details of this area. The book provides an overview of the financial environment in which multinational firms operate. It also provides a thorough discussion on the Balance of payments and international financial institutions and financial markets. It also discusses the organization and operations of the foreign exchange.

Download or read book International Economics written by Hendrik Van den Berg and published by Routledge. This book was released on 2016-11-17 with total page 1232 pages. Available in PDF, EPUB and Kindle. Book excerpt: Now in its third edition, Hendrik Van den Berg’s International Economics: A Heterodox Approach covers all of the standard topics taught in undergraduate international economics courses. Written in a friendly and approachable style, this new edition is unique in that it presents the key orthodox neoclassical models of international trade and investment, while supplementing them with a variety of heterodox approaches. This pluralist approach is intended to give economics students a more realistic understanding of the international economy than standard textbooks can provide. Changes to the new edition include: updates throughout to reflect recent world events, including coverage of trade negotiations and the Greek crisis; expanded discussion of pluralist approaches with more coverage of alternative schools of thought; discussions of the growing financialization of global economic activity; additional real-world examples; increased coverage of environmental issues; transnational corporations and their behavior in the international economy; the difference between international investment and international finance; and monetary history; a consolidated and updated chapter on international banking. This book also maintains a broad perspective that links economic activity to the social and natural spheres of human activity, with emphasis on the distributional and environmental effects of international trade, investment, finance, and migration. Chapter summaries, key terms and concepts, problems and questions, and a glossary are included in the book. A Student Study Guide and an Instructor’s Manual are available online.