Overview

An exchange rate is the current market price for which one currency can be exchanged for another. The spot exchange rate refers to the current exchange rate whereas the forward exchange rate refers to an exchange rate that is quoted and traded today but for delivery and payment on a specific future date. Exchange rates vary because of changes in the relative demand for different countries' goods and services and because national monetary and fiscal policies are inconsistent with each other. Differences in tax rates and in interest rates cause capital flows which affect a country's balance of payments and, consequently, its exchange rate. An overvalued exchange rate leads to a current account balance of payments deficit and bearish speculative capital movements; an undervalued exchange rate creates a current account surplus and an influx of capital. Volatile exchange rates and volatile interest rates coincide. This book examines important issues in the field.

Full Product Details

Author:   Megan J Tauline
Publisher:   Nova Science Publishers Inc
Imprint:   Nova Science Publishers Inc
Weight:   0.792kg
ISBN:  

9781604563344

ISBN 10:   1604563346
Pages:   280
Publication Date:   01 June 2008
Audience:   Professional and scholarly ,  Professional & Vocational
Format:   Hardback
Publisher's Status:   Active
Availability:   Out of stock  
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Table of Contents

Preface; Imperfect Knowledge Expectations, Uncertainty Premia and Exchange Rate Dynamics; International Parity Relationships and a Nonstationary Real Exchange Rate: Germany Versus the US in the Post Bretton Woods Period; PPP and Black Market Exchange Rates (1939-1959): The Experience of the Spanish Peseta; Fixing the Exchange Rate for an International Financial Centre: The Case of Hong Kong; Exchange Rate Flexibility and Real Adjustments in Emerging Market Economies; Long Run Real Exchange Rate Overvaluation: Evidence from Asia; Are there Non-Linearities in Real Exchange Rate Behaviour? The Case of Less Developed Countries; The Validity of Dual Exchange Rate Target Zones; Index.

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