Kirjahaku

First published in 2007. Exchange Rate Economics: Theories and Evidence is the second edition of Floating Exchange Rates: Theories and Evidence, and builds on the successful content and structure of the previous edition, but has been comprehensively updated and expanded to include additional literature on the determination of both fixed and floating exchange rates. Core topics covered include: • the purchasing power parity hypothesis and the PPP puzzle; • the monetary and portfolio-balance approaches to exchange rates; • the new open economy macroeconomics approach to exchange rates; and • the determination of exchange rates in target zone models and speculative attack models. Exchange Rate Economics: Theories and Evidence also includes extensive discussion of recent econometric work on exchange rates with a particular focus on equilibrium exchange rates and measuring exchange rate misalignment, as well as discussion on the non-fundamentals-based approaches to exchange rate behaviour, such as the market microstructure approach. The book will appeal to academics and postgraduate students with an interest in all aspects of international finance and will also be of interest to practitioners concerned with issues relating to equilibrium exchange rates and the forecastability of currencies in terms of macroeconomic fundamentals.

First published in 2007. Exchange Rate Economics: Theories and Evidence is the second edition of Floating Exchange Rates: Theories and Evidence, and builds on the successful content and structure of the previous edition, but has been comprehensively updated and expanded to include additional literature on the determination of both fixed and floating exchange rates. Core topics covered include: • the purchasing power parity hypothesis and the PPP puzzle; • the monetary and portfolio-balance approaches to exchange rates; • the new open economy macroeconomics approach to exchange rates; and • the determination of exchange rates in target zone models and speculative attack models. Exchange Rate Economics: Theories and Evidence also includes extensive discussion of recent econometric work on exchange rates with a particular focus on equilibrium exchange rates and measuring exchange rate misalignment, as well as discussion on the non-fundamentals-based approaches to exchange rate behaviour, such as the market microstructure approach. The book will appeal to academics and postgraduate students with an interest in all aspects of international finance and will also be of interest to practitioners concerned with issues relating to equilibrium exchange rates and the forecastability of currencies in terms of macroeconomic fundamentals.

This authoritative book comprises key papers written on exchange rate economics by the eminent scholar Ronald MacDonald.Each of the highly focused chapters discusses the important issues that his research has pursued in this area. The papers are organised under four headings: monetary fundamentals and exchange rate forecasting; equilibrium exchange rate; expectations formation news and risk; and the economics of fixed exchange rates and credibility issues. Among the key findings, Ronald MacDonald concludes that it is possible to successfully forecast currencies in an out of sample context using macroeconomic fundamentals. Additionally, from a practitioner's perspective, well-founded and useful measures of an equilibrium exchange rate can be calculated once violations of the purchasing power parity concept are recognised.This essential book contains a number of academic orientated papers that postgraduate students and academics will find invaluable for their research. Practitioners in the financial sector will also be extremely interested in the chapters on exchange rate forecasting and issues relating to equilibrium exchange rates.

Praise for The Laughing Elf: "A work of genius, bringing with it what Walter Pater calls 'a strange new beauty.' . . . it is going to last, is this book of fairy tales strung on a string as it were. The author is Ronald MacDonald, a son of that George MacDonald whose name is one still to conjure with" ---Henry Savage Published by Nodens Books.