Download or read book The Recent Behavior of Floating Exchange Rates written by Sven W. Arndt and published by . This book was released on 1978 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Exchange Rates Trade and the U S Economy written by John Tirman and published by . This book was released on 1985 with total page 328 pages. Available in PDF, EPUB and Kindle. Book excerpt: These essays review recent advances in exchange rate analysis and new empirical analysis of the behavior of exchange rates and their effects on international trade and the U.S. economy. The first section deals with the determination of exchange rates and their alleged volatility and disequilibrium levels. The second section concerns the effects of flexible exchange rates on international trade, and the third treats the macroeconomic linkages between economies and international influences on the U.S. economy. ISBN 0-88410-948-8 : $39.95.
Download or read book Floating Exchange Rates in an Interdependent World written by United States. General Accounting Office and published by . This book was released on 1984 with total page 92 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Exchange Rates and Prices written by William R. Smith and published by Routledge. This book was released on 2017-04-21 with total page 212 pages. Available in PDF, EPUB and Kindle. Book excerpt: Originally published in 1996. This study looks at the impact of exchange rate fluctuation on the pricing practices of foreign industries that import into the United States market. It presents several studies of the pass-through behaviour of over 100 disaggregated commodity groups with bi-lateral exchange rates. The book presents analysis of specific competitors and their individual pricing responses to exchange rate changes, adding significantly to pricing theory as well as being useful for marketers in predicting business responses.
Download or read book Floating Exchange Rates and the Need for Surveillance written by Jacques R. Artus and published by . This book was released on 1978 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Exchange Rate Economics written by Mr.Ronald MacDonald and published by International Monetary Fund. This book was released on 1991-06 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt: We survey the literature on the two main views of exchange rate determination that have evolved since the early 1970s: the monetary approach to the exchange rate (in flex-price, sticky-price and real interest differential formulations) and the portfolio balance approach. We then go on to discuss the extant empirical evidence on these models and conclude by discussing how the future research strategy in the area of exchange rate determination is likely to develop. We also discuss the literature on foreign exchange market efficiency, on exchange rates and ‘news’ and on international parity conditions.
Download or read book Exchange Rate Efficiency and the Behavior of International Asset Markets Routledge Revivals written by Kathryn Dominguez and published by Routledge. This book was released on 2014-10-20 with total page 169 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book, first published in 1992, examines the subject of foreign exchange market efficiency and, in particular, the effectiveness of central bank intervention in the market. This book is ideal for students of economics.
Download or read book On the Statistical Properties of Floating Exchange Rates written by International Monetary Fund and published by International Monetary Fund. This book was released on 1988-01-01 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper reviews the statistical behavior of major currency exchange rates during 1975-86. A close inspection indicates small deviations of recent exchange rate behavior from random walks and some systematic movements in monthly data, possibly corresponding to the relatively infrequent arrivals of information concerning major macroeconomic variables. The distributional characteristics of exchange rate changes differ between daily and monthly data and thus imply the possible presence of heterogeneity in underlying factors. These and other observations suggest care in the use of daily data in empirical work and the usefulness of explicit modeling of heterogeneity among market participants and in information structure.
Download or read book Floating Exchange Rates in an Interdependent World written by U S Government Accountability Office (G and published by BiblioGov. This book was released on 2013-07 with total page 98 pages. Available in PDF, EPUB and Kindle. Book excerpt: In response to a congressional request, GAO examined the role of government policy in determining exchange rates and the role of floating exchange rates in an interdependent world economy. The analysis was focused on: (1) the process of exchange rate determination, particularly the yen-dollar rate and the role of Japanese Government actions; (2) the constraints that international economic interdependence impose on economic policy; and (3) alternatives to the floating exchange rate system. According to some analysts, the floating exchange rate system is not an adequate method to facilitate the growth of world trade and investment. Some governments, especially Japan, are alleged to exert improper influence over exchange rates, while the United States does not exert enough influence. While appreciation of the dollar from 1980 to 1983 lowered the inflation rate, it also reduced the gross national product and caused the loss of over a million jobs. GAO found no support for charges that the Japanese Government pursued a policy to deliberately undervalue the yen relative to the dollar. Any intervention undertaken by that government was aimed at strengthening rather than weakening the yen. However, Japan could do more to facilitate greater international use of the yen. GAO found that exchange rates are affected by the international balance of trade, capital flows among nations, differences between countries' national economic policies and economic conditions, and perceived political risks and expectations. The complications of interdependence and the limits to current understanding of exchange rate behavior have prevented a consensus on the advisability of changing the current system. However, the interdependence of national economies constrain the range of domestic economic policies that the United States can adopt.
Download or read book The Recent Behaviour of Floating Exchange Rates written by Sven W. Arndt and published by . This book was released on 1978 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Exchange Rate Determination Puzzle written by Falkmar Butgereit and published by Diplomica Verlag. This book was released on 2010 with total page 120 pages. Available in PDF, EPUB and Kindle. Book excerpt: Still after more than thirty years of free floating exchange rates, large parts of exchange rate dynamics remain a puzzle. As this book shows, much progress has been made in explaining exchange rate movements over longer horizons. It also shows, however, that short-run movements are far more challenging to explain. The book is based upon a variety of papers, many of them released recently. A key aspiration of the literature has always been not only to explain past exchange rate behavior but also to forecast out of sample and to compare it to the simple random walk outcome. Here some development has been made after Meese and Rogoff's (1983) truculent verdict of the performance of common exchange rate models. By means of empirical analysis and descriptive statistics this book further supports the established long-run relationships between exchange rates and fundamentals such as expected productivity growth, real GDP growth, domestic investment, interest rates, inflation, government spending, and current account balances. It finds that these fundamentals affect the exchange rate to varying degrees over time. Turning to short-term exchange rate dynamics, it turns out that a different set of forces is at play. The key to explaining short-run movements is to be found in an extensive micro-foundation that factors in a pronounced heterogeneity among market participants and information asymmetries, as well as the possibility of sudden shifts in sentiment, beliefs, and the degree of risk aversion. Promising results have been obtained by order-flow analysis and high frequency data. Also, the consideration of chartism and speculators facilitates understanding for otherwise puzzling exchange rate movements. The last attempt to tackle the understanding of exchange rate behavior is the use of frequency domain analysis and in particular spectral analysis which tries to track down any cyclical patterns in the various moments of time series. And as we shall see forex indeed incorpor
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 On Exchange Rates written by Jeffrey A. Frankel and published by MIT Press. This book was released on 1993 with total page 468 pages. Available in PDF, EPUB and Kindle. Book excerpt: These seventeen essays provide an accessible and thorough reference for understanding the role of exchange rates in the international monetary system since 1973, when the rates were allowed to float. The essays analyze such issues as exchange rate movements, exchange risk premia, investor expectations of exchange rates and behavior of exchange rates in different systems. Frankel's sound empirical treatment of exchange rate questions shows that it is possible to produce work that is interesting from a purely intellectual viewpoint while contributing to practical knowledge of the real world of international economics and finance.The essays have been organized in a way that provides an introduction to the field of empirical international finance. Part I documents the steady reduction in barriers to international capital movement and leads logically to part II, which explains how exchange rates are determined. Both monetary and portfolio-based models are surveyed in part II, providing a clear transition to the topic of part III; the possible existence of an exchange risk premium. Part IV applies the tools discussed in earlier sections to explore various policy questions related to exchange rate expectations such as whether foreign exchange intervention matters and whether the European monetary system had become credible by 1991. Each part begins with a detailed introduction explaining not only the central issues of that section but also suggesting connections with other essays in the book.Jeffrey A. Frankel is Professor of Economics at the University of California, Berkeley.
Download or read book The Merits of Flexible Exchange Rates written by Leo Melamed and published by University Press of America. This book was released on 1988 with total page 568 pages. Available in PDF, EPUB and Kindle. Book excerpt: This anthology of significant writings by eminent economists is, in part, a critique of the Bretton Woods system of fixed exchange rates, which was very successful at the time it was instituted but which, because of its rigidity, failed in the end to address the economic problems of the post-war era. The authors suggest that the stock market crash of 1987 might not have occurred if market forces had been allowed simply to run their course in the absence of any real economic restrictions. Contributors include: Harry Johnson, Fritz Machlup, Milton Friedman, Gottfried Haberler, Henry Wallich, Alan Greenspan, Leo Melamed, Jacques de Larosiere, Beryl Sprinkel, Michael L. Mussa, Martin Feldstein, Jacob Frenkel, Rudiger Dornbusch, Morris Goldstein, Rachel McCulloch, Paul R. Krugman, William H. Branson, Thomas D. Willett, J. Carter Murphy.
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 Floating Exchange Rates and the State of World Trade and Payments written by David Bigman and published by Beard Books. This book was released on 2003-03 with total page 356 pages. Available in PDF, EPUB and Kindle. Book excerpt: Analyzes developments in the international monetary system since 1973, with anew added epilogue.
Download or read book Floating Exchange Rates written by Ronald MacDonald and published by Allen & Unwin Australia. This book was released on 1988 with total page 340 pages. Available in PDF, EPUB and Kindle. Book excerpt:
