Business & Economics Books:

Exchange Rate Dynamics

A New Open Economy Macroeconomics Perspectives
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Description

Are exchange rates determined by economic fundamentals or are they a prey to random speculative forces? Some economists assert that economic theory has so far performed poorly in explaining the dramatic increase in exchange rate volatility in the recent floating rate period. This book argues that modern macroeconomic theory does provide guidelines for understanding exchange rate fluctuations. Since the mid-1990s, there has been an outpouring of research that aims at laying new foundations for open-macroeconomic theory. The so-called "New Open Economy Macroeconomics" (NOEM) approach embeds micro-founded behaviour into dynamic general equilibrium models. This provides a rich framework for thinking about exchange rate behaviour and lays the groundwork for credible policy evaluation. This book shows how the most recent analytical tools proposed in this literature improve our understanding of exchange rate fluctuations. With contributions from an international array of thinkers, this impressive book shall interest both students and researchers involved with Macroeconomics, Money and Banking as well as all those interested in International Finance, including financial institu

Author Biography:

Jean-Olivier Hairault is Professor of Economics at the University of Paris 1, Panthéon-Sorbonne, France. Thepthida Sopraseuth is Assistant Professor at the University of Évry Val d'Essonne, France.
Release date Australia
December 18th, 2003
Audiences
  • General (US: Trade)
  • Professional & Vocational
  • Tertiary Education (US: College)
Contributors
  • Edited by Jean-OIiver Hairault
  • Edited by Thepthida Sopraseuth
Illustrations
31 Tables, black and white
Pages
320
Dimensions
156x234x25
ISBN-13
9780415298773
Product ID
5247201

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