Laurence Copeland, Cardiff University

Publisher: Financial Times Press
Copyright: 2008
Format: Paper; 544 pp

ISBN-10:	0273710273
ISBN-13:	9780273710271

Our Price: £44.99
Status: Instock
Published: 08 May 2008

Exchange rates and exchange rate fluctuation continue to play an increasingly important role in all our lives. Exchange Rates and International Finance fifth edition provides a clear and concise guide to the causes and consequences of exchange rate fluctuations, enabling you to grasp the essentials of the theory and its relevance to major events in currency markets. The orientation of the book is towards exchange rate determination with particular emphasis given to the contributions of modern finance theory. Both fixed and floating exchange rate models and empirical results are explored and discussed.

Preface to the fifth edition
Publishers' acknowledgements

1. Introduction

PART 1: THE INTERNATIONAL SETTING

2. Prices in the open economy: perchasing power parity

3. Financial markets in the open economy

4.Open economy marroeconomics

PART 2: EXCHANGE RATE DETERMINATION

5. Flexible prices: the monetary model

6. Fixed prices: the Mundell-Fleming model

7. Sticky prices: the Dornbush model

8. Portfolio balance and the current account

9. Currency substitution

10. General equilibrium models

11. Optimum currency areas and monetary union

PART 3: A WORLD OF UNCERTAINTY

12. Market efficiency and rational expectations

13. The 'news' model and exchange rate volatility

14. Microstructure models

15. The risk premium

PART 4: FIXED EXCHANGE RATES

16. A certain uncertainty: non-linearity, cycles and chaos

17. Target zones

18. Crises and credibility

PART 5: CONCLUSIONS

19. Conclusions

Appendix: list of symbols

Bibliography

Index

• A clear, non-technical explanation of the issues, emphasising intuitive understanding and interpretation of economic arguments rather than mathematical proofs.
• Provides a sound overview of empirical evidence, without going into intricate detail: a springboard for those wishing to delve deeper into the published literature.
• Early chapters explain the basics of demand and supply, and basic macroeconomics, so those without prior study in economics will find the subject accessible.
• Thoroughly updated to reflect recent events on the world monetary/financial scene.
• Expanded and up-to-date coverage of the Euro.
• New! Chapter 14 Microstructure models