Floating Exchange Rates: Theories and Evidence

Floating Exchange Rates: Theories and Evidence

Floating Exchange Rates: Theories and Evidence

Floating Exchange Rates: Theories and Evidence

Synopsis

`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

Excerpt

Since the move to a system of managed floating exchange rates for the major currencies in the early 1970s, a plethora of theoretical and empirical papers on various aspects of exchange rate modelling have appeared. The main aim of this book is to bring together this literature in a form which will be accessible to final year undergraduates, postgraduates and professional economists interested in discovering what has been happening in exchange rate economics over the last fifteen years.

In writing this book I have, inevitably, incurred a number of debts. Thanks are due to Mike Artis, David Barr, Laurence Copeland, Paul Hallwood, Alan Speight, Mark Taylor and Tom Torrance for reading and commenting on individual chapters. Special thanks are due to David Peel, Bert Shaw and Alan Winters, who read the whole manuscript and provided invaluable comments and plenty of food for thought. I owe a special debt to Winnie Sinclair for typing the entire manuscript: anyone familiar with my handwriting will realize that she has undertaken a formidable (some may say impossible) task. As is customary, I absolve the aforementioned from any responsibility for any remaining errors of omission or commission.

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