Originally published in 1986. This helpful text sets out what appears to make exchange rates change and shows how these various factors contribute to an explanation of the past. It considers the problems of providing satisfactory forecasts of the exchange rate while presenting the methods used, outlining their drawbacks and speculating on future ways forward. Laid out to move from empirical issues to theory and on to policy, this book is easily of use to those interested in macroeconomics, applied economics and international economics as well as economic history.
Foreword
1. Introduction Part 1: Exchange Rate Determination: Theory and
Evidence
2. The Spot Market, the Forward Market and the Capital Account
3.
Theories of the Determination of the Forward Rate and Spot Capital Flows
4.
International Monetary Models
5. Asset Markets, the Efficient Markets
Hypothesis and News Part 2: Alternative Exchange Rate Regimes
6. The
Evolution of the Exchange Rate System Since the Second World War
7. The
European Monetary System
8. Other Exchange Rate Regimes Part 3: The Exchange
Rate and Economic Policy
9. The Exchange Rate and the Real Economy
10.
Exchange Rate Policy and the Rate of Inflation
11. The Interactions of
Exchange Rate Policy with other Policies
12. The Impact of Natural Resource
Discovery on Exchange Rates: The Case of North Sea Oil Part 4: Forecasting
13. Forecasting the Exchange Rate A Sceptical View
Simon Brooks, Keith Cuthbertson, David G. Mayes
