International Money: Postwar Trends and Theories
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Book Overview
The period since the Second World war has been an eventful and often disturbing one in the international monetary field. Economic theories have been propounded and modified both to explain these events and to influence future choices made by economic actors. This history of international monetary relations shows both how theoretical development affected private developments, and how the theories themselves have been judged - and often discarded - on the basis of their perceived accordance with actuality. Exchange rate movements in particular are examined in the light of the absence of any generally accepted fundamental model, and the author deploys here his own theory based on the idea of bounded rationality. Finally, he looks ahead to future possibilities for the international monetary system.
New in the Second Edition
Fully revised and updated
Includes an account of the EMS up till the end of 1995
Fuller theoretical coverage of fixed exchange rate systems, including the modelling of speculative attacks
Covers chaos theory and near-rational behaviour
Includes new sections on: speculators and speculative bubbles; target zones and other proposals for international monetary reform; the importance of free capital mobility and proposals to control capital movements.
New in the Second Edition
Fully revised and updated
Includes an account of the EMS up till the end of 1995
Fuller theoretical coverage of fixed exchange rate systems, including the modelling of speculative attacks
Covers chaos theory and near-rational behaviour
Includes new sections on: speculators and speculative bubbles; target zones and other proposals for international monetary reform; the importance of free capital mobility and proposals to control capital movements.
Format:Paperback
Language:English
ISBN:019877513X
ISBN13:9780198775133
Release Date:November 1996
Publisher:Oxford University Press, USA
Length:284 Pages
Weight:0.90 lbs.
Dimensions:0.7" x 6.1" x 9.2"
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1 rating
Worth a spot on your bookshelf
Published by Thriftbooks.com User , 17 years ago
Simply outstanding. Paul De Grauwe writes about issues pertaining to exchange rates regimes with great clarity. Chapter 9 about near-rational behavior is particularly interesting, even if the part on chaos theory is too terse. For those more particularly interested in the economics of monetary unions, I also strongly recommend his book "The economics of monetary integration".
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