Preface to the fourth edition
Publishers' acknowledgements

1. Introduction

PART 1: THE INTERNATIONAL SETTING
2. Prices in the open economy: purchasing power parity
3. Financial markets in the open economy
4. Open economy macroeconomics

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. The risk premium

PART 4: FIXED EXCHANGE RATES
15. A certain uncertainty: non-linearity, cycles and chaos
16. Target zones
17. Crises and credibility

PART 5: CONCLUSIONS
18. Conclusions

Appendix: list of symbols
Bibliography
Index