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Exchange Rates and International Macroeconomics
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Edited by:
Jacob A. Frenkel
Language:
English
Published/Copyright:
1983
About this book
This volume, presenting some of the finest new research on exchange rates and international macroeconomics, contains papers and critical commentary by thirty-two leading economists. Taken together, these papers provide sound evidence about the effects of real and monetary factors on exchange rates and extend the analyses of exchange rates and international macroeconomics by outlining the kinds of behavior and institutional arrangements that can be incorporated into such analyses.
Both empirical and theoretical research are represented, and the contributors analyze such issues as the performance of various models of exchange rate determination, the role of risk and speculation in the forward market for foreign exchange, the rational expectations hypothesis in such markets, the performance of monetary policy in ten industrial countries, the role that labor market contracts play in exchange rate policies, the effect of he oil shocks on the evolution of exchange rates, and the output cost of bringing down inflation in the open economy.
Author / Editor information
Jacob A. Frenkel is an Israeli economist. Frenkel studied economics and political science at the Hebrew University of Jerusalem and gained an M.A. and doctorate in economics at the University of Chicago. He was a faculty member of the university from 1973 to 1987, where he was appointed David Rockefeller Professor of International Economics.
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Frontmatter
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Contents
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Preface
ix -
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1. An Introduction to Exchange Rates and International Macroeconomics
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2. An Accounting Framework and Some Issues for Modeling How Exchange Rates Respond to the News
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3. The Out-of-Sample Failure of Empirical Exchange Rate Models: Sampling Error or Misspecification?
67 -
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4. Risk Averse Speculation in the Forward Foreign Exchange Market: An Econometric Analysis of Linear Models
113 -
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5. Rational Expectations and the Foreign Exchange Market
153 -
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6. The Use of Monetary Policy for Internal and External Balance in Ten Industrial Countries
189 -
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7. Staggered Contracts and Exchange Rate Policy
235 -
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8. Oil Shocks and Exchange Rate Dynamics
259 -
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9. Real Adjustment and Exchange Rate Dynamics
285 -
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10. Real Exchange Rate Overshooting and the Output Cost of Bringing Down Inflation: Some Further Results
317 -
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Contributors
369 -
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Author Index
373 -
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Subject Index
376
Publishing information
Pages and Images/Illustrations in book
eBook published on:
January 15, 2010
eBook ISBN:
9780226262536
Pages and Images/Illustrations in book
Main content:
392
eBook ISBN:
9780226262536
Keywords for this book
economy; economics; economical; money; finance; financial; wealth; income; power; currency; currencies; rate of exchange; research; academic; scholarly; international; essay collection; commentary; discussion; analysis; institutional; behavioral; foreign; accounting; sampling; inflation; industrial; policy; error; mistake; market
Audience(s) for this book
Professional and scholarly;
