Exchange Rate Economics - Theories and Evidence (Paperback, New edition)

Since the collapse of the Bretton Woods system of fixed but adjustable exchange rates in 1973, the principal trading economies have moved to a system of floating exchange rates. The macroeconomic consequences of such a situation are many and various, and have increasingly attracted the attention of professional economists since the 1970s. This book draws together the now vast theoretical and empirical literature in a coherent and logical fashion, presenting in Part I the principal macroeconomic models which have been developed, and in Part II, the empirical data supporting them. Part III then enlarges on particular themes, discussing topics such as dual exchange rates, the wage-price nexus and the behaviour of the US dollar (1980-1985).