Exchange Rates and International Financial Markets

This book poses the important question of whether exchange rates are ultimately tied down by economic fundamentals. In a unique approach the subject is analysed from an asset holder''s perspective and Streissler takes the reader through an authoritative and wide-ranging study including:
*Friedman''s case for flexible exchange rates
*interest parity and purchasing power parity
*process analysis of temporal exchange rate equilibria
*stabilization through bounded interest rates and exchange rate theory
*the problem of the neutrality of money
Erich Streissler''s series of lectures are cleverly presented and informative about this particularly dynamic field of research. Indispensable to advanced students and academics alike, Exchange Rates and International Financial Markets will also be of great interest to economic policy makers.

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Table of contents : Lecture I: Fundamentals? Exchange rates in the light of Schumpeter but not of Dioletian
Lecture II: Preliminaries Friedman's case for flexible exchange rates versus random walks in theory and practice
Lecture III: Equilibria? Interest parity and purchasing power parity - which kind of equilibria?
Lecture IV: Divergence Process analysis of temporal exchange rate equilibria
Lecture V: Stabilization Further results on process equilibria and countervailing forces making for mean reversion
Lecture VI: Mere demand and supply Stabilization through bounded interest rates and exchange rate theory "Without the contrivance of macroeconomics"
Lecture VII: Non-neutrality I On the nature of money - or: The story of Anacharsis the Scythian, Part I
Lecture VIII: Non-neutrality II The story of Anacharsis the Scythian Part II