Exchange Rates and International Finance, 6th edition

Published by Pearson United Kingdom (April 17, 2014) © 2014
Laurence Copeland

Title overview

Acclaimed for its clarity, Exchange Rates and International Finance provides an approachable guide to the causes and consequences of exchange rate fluctuations, enabling you to grasp the essentials of the theory and its relevance to these major events in currency markets

The orientation of the book remains towards exchange rate determination, with particular emphasis given to the contributions of modern finance theory.

This edition of this established text addresses the impact of the global financial crisis.

New to this edition

  • New chapter on Scapegoat Models
  • Extended coverage on risk, global financial crisis, forecasting issues (Meese and Rogoff), factor models and the latest developments in the Eurozone
  • Chapters re-ordered to improve structure and flow of topics
  • Inclusion of FT articles and vignettes, illustrating real-world examples with accompanying questions
  • Learning outcomes
  • Updated reading guides
  • Improved PowerPoint slides and ‘bank of questions’ for lecturers

Table of contents

  1. 1 Introduction
  2. 2 Prices in the open economy: purchasing power parity
  3. 3 Financial markets in the open economy
  4. 4 Open economy macroeconomics
  5. 5 Flexible prices: the monetary model
  6. 6 Fixed prices: the Mundell–Fleming model
  7. 7 Sticky prices: the Dornbusch model
  8. 8 Portfolio balance and the current account
  9. 9 Currency substitution
  10. 10 General equilibrium models
  11. 11 Market efficiency and rational expectations
  12. 12 The risk premium
  13. 13 Target zones
  14. 14 Crises and credibility
  15. 15 Optimum currency areas, monetary union and the eurozone
  16. 16 Heterogeneous expectations and scapegoat models
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