Exchange rate economics : theories and evidence / Ronald MacDonald.

MacDonald, Ronald, 1955 [Browse]
2nd ed.
London ; New York : Routledge, 2007.
1 online resource (465 p.)


Routledge studies in the modern world economy. [More in this series]
Summary note
Exchange Rate Economics: Theories and Evidence is the second edition of Floating Exchange Rates: Theories and Evidence and builds on the successful content and structure of the previous edition. It has been comprehensively updated and expanded to include additional literature on the determination of both fixed and floating exchange rates. Core topics covered include:the purchasing power parity hypotheses and the PPP puzzle the monetary and portfolio-balance approaches to exchange rates new open economy macroeconomics approach t
Description based upon print version of record.
Bibliographic references
Includes bibliographical references (pages [405]-439) and index.
Source of description
Description based on print version record.
Language note
  • Introduction : some basic concepts and stylised facts and the case for (and against) floating exchange rates
  • Purchasing power parity and the PPP puzzle
  • The economics of the PPP puzzle
  • The flexible price monetary model
  • The sticky price monetary model
  • The monetary approach to the exchange rate : an empirical perspective
  • Currency substitution models and the portfolio balance approach to the exchange rate
  • Real exchange rate determination : theory and evidence
  • Equilibrium exchange rates : measurement and misalignment
  • The new open economy macroeconomics and exchange rate behaviour
  • The new open economy macroeconomics model : pricing to market and exchange rate volatility redux
  • The economics of fixed exchange rates, part 1: target zone models
  • The economics of fixed exchange rates, part 2: speculative attack models and contagion
  • The market microstructure approach to the foreign exchange market
  • Spot and forward exchange rates and the forward premium puzzle.
  • 1-85278-409-1
  • 1-134-80125-4
  • 9786610757336
  • 1-280-75733-7
  • 0-203-38018-5
  • 1-134-80126-2
  • 122337365
  • 1000429811
  • 10.4324/9780203380185
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