Exchange Rate Economics: Where Do We Stand?

Erscheinungsjahr 2005
ISBN: 978-0-262-04222-2
Verlag: Penguin Random House LLC

Buch, Englisch, 366 Seiten, Format (B × H): 160 mm x 235 mm, Gewicht: 522 g

Reihe: CESifo Seminar Series

Recent theoretical developments in exchange rate economics have led to important new
insights into the functioning of the foreign exchange market. The simple models of the 1970s, which
could not withstand empirical evaluation, have been succeeded by more complex models that draw on
theoretical work in such areas as the microstructure of financial markets and open economy
macroeconomics. Additionally, new and powerful econometric techniques allow researchers to subject
exchange rates to stronger empirical analysis.This book discusses the divergent theoretical and
empirical paradigms used today for setting and predicting exchange rates; the chapters reflect
current debates in the field. Some chapters base their analyses on the theoretical framework of
representative and fully informed rational agents; others are grounded in the hetereogeneity of
agents who use different and incomplete sets of information. Still other chapters analyze empirical
data to uncover the fundamental characteristics of exchange rates. Taken together, these competing
analyses document the current state of exchange rate economics and point the way to a new consensus
about how to predict and explain exchange rate movements.

Autoren/Hrsg.

De Grauwe, Paul

Fachgebiete

• Wirtschaftswissenschaften Volkswirtschaftslehre Volkswirtschaftslehre Allgemein Geldwirtschaft, Währungspolitik

Über Autor(innen)

De Grauwe, Paul
Paul De Grauwe is Professor of Economics at the Catholic University of Leuven, the
author of <I>The Economics of Monetary Union</I>, and the editor of
three previous books in the CESifo Seminar series.

Paul De Grauwe is Professor of Economics at the Catholic University of Leuven, the author of Economics of Monetary Union, and editor of two previous books in the CESifo Seminar series published by the MIT Press, Exchange Rate Economics: Where Do We Stand? (2005) and (with Jacques Mélitz) Prospects for Monetary Union after the Euro (2005).