Exchange Rate Volatility, Trade, and Capital Flows under Alternative Exchange Rate Regimes (Japan-US Center UFJ Bank Monographs on International Financial Markets)
Publisher: Cambridge University Press
Published: June 19, 2000
Language: eng
Format: Hardcover
Number of pages: 172
ISBN-13: 9780521562942
Subjects: Monetary economics; Foreign exchange rates; Foreign Exchange; Business & Economics; Business / Economics / Finance; Business/Economics; General; Economics - General; Business & Economics / Macroeconomics; Foreign exchange rates--Mathematical models; Mathematical models
First sentence: As summarized by Krugman (1989), there are two prominent puzzling facts since the collapse of the Bretton Woods system.
Description: "Professors Sercu and Uppal show that the theoretical models for exchange rates in this context are quite different from those put forth by monetary theorists and proponents of purchasing power parity arguments. The authors also find that an increase in exchange rate volatility may be associated with either an increase or decrease in trade, and they conclude by identifying the particular conditions under which a regime of fixed exchange rates maximizes welfare."--BOOK JACKET.