Title: Balance of payments and exchange rate theories /
Authors: Miller, Norman C., 1939-
Publisher: Edward Elgar,
Year: 2002
Subjects: Balance of payments.; Foreign exchange rates.
Abstract: "In this book important welfare and policy implications are carefully examined. Miller develops a new theory of the balance of payments associated with commodity market disequilibrium, a loanable funds theory of exchange rate and a modern foreign exchange market theory of the exchange rate that incorporates capital flow." "The book also details fifteen puzzling facts associated with open economies and the FX market. After reviewing existing explanations to these puzzles, Miller shows how each of the above new theories provides new, often unified solutions to them."