Preface; 1. Introduction; PART I. HISTORICAL aND INSTITUTIONAL PERSPECTIVES: 2. Foreign exchange markets and the marketability of money; 3. Exchange rate arrangements and international monetary regimes; PART II. MODELS oF EXCHANGE RATE BEHAVIOR: 4. Exchange rates and national price levels; 5. Exchange rates and interest rates; 6. Exchange rates and the balance of payments; 7. News, revisions in expectations, and exchange rate dynamics; 8. Empirical estimates of structural exchange rate models; 9. New perspectives from optimizing models of realignments under fixed exchange rates; 10. New directions for conceptual models of flexible exchange rates; PART III. EXCHANGE RATE POLICY: 11. The choice of exchange rate arrangements; 12. Policy-oriented perspectives on exchange rate stability; References; Index of authors; Index of subjects.
'... provides an extremely well written and complete overview of exchange rates and exchange rate models ... an excellent work of reference.' Economic Journal