International Monetary and Financial Economics

by Daniels, Joseph P.; VanHoose, David D.

• ISBN13: 9780538875332
• ISBN10: 053887533X
• Format: Hardcover
• Copyright: 1998-08-01
• Publisher: South-Western Pub

Summary

International Monetary and Financial Economics covers the key concepts of both international financial economics and open economy macroeconomics in an accessible, user-friendly manner. It concentrates on diagrammatic and conceptual explanations, and relates the material to the many current business and policy issues appearing in leading publications such as The Economist, The Wall Street Journal, and Financial Times. The book thoroughly covers the full range of international money and finance topics, including international finance, international money and banking and open-economy macroeconomics, illustrating how all three areas help us understand the world economic and financial system. It also integrates policy making and policy options throughout, as well as coverage of international organizations and their role in policy formation.

Table of Contents

UNIT ONE: INTERNATIONAL PAYMENTS AND EXCHANGE	1	(100)
Chapter 1: Keeping Up with a Changing World-Gross Domestic Product, Price Indexes, and the Balance of Payments	3	(32)
Chapter 2: The Market for Foreign Exchange	35	(37)
Chapter 3: Exchange Rate Arrangements and Systems, Past to Present	72	(29)
UNIT TWO: INTERNATIONAL FINANCIAL INSTRUMENTS, MARKETS, AND INSTITUTIONS	101	(132)
Chapter 4: The Forward Currency Market and International Financial Arbitrage	103	(28)
Chapter 5: Interest Yields, Interest Rate Risk, and Derivative Securities	131	(41)
Chapter 6: A Single World Marketplace-International Financial Market Integration	172	(23)
Chapter 7: International Banking and Payment Systems	195	(38)
UNIT THREE: CENTRAL BANKS, EXCHANGE RATES, AND BALANCE-OF-PAYMENTS DETERMINATION	233	(100)
Chapter 8: The Role of Central Banks	235	(45)
Chapter 9: Traditional Approaches to Exchange-Rate and Balance-of-Payments Determination	280	(26)
Chapter 10: Monetary and Portfolio Approaches to Exchange-Rate and Balance-of-Payments Determination	306	(27)
UNIT FOUR: OPEN ECONOMY MACROECONOMICS AND POLICY ANALYSIS	333
Chapter 11: An Open Economy Framework	335	(38)
Chapter 12: Economic Policy with Fixed Exchange Rates	373	(41)
Chapter 13: Economic Policy with Floating Exchange Rates	414	(32)
Chapter 14: The Price Level, Real Output, and Economic Policymaking	446	(48)
Chapter 15: Policy Coordination, Monetary Union, and Target Zones	494