International transactions among nations and multinational corporations are important and growing due to the openness of economies all over the world. In this f

This book presents an extensive survey of the theory and empirics of international parity conditions which are critical to our understanding of the linkages bet

For about three decades until the Global Financial Crisis (GFC), Covered Interest Parity (CIP) appeared to hold quite closely—even as a broad macroeconomic re

This book collects together the basic documents of an approach to the theory and policy of the balance of payments developed in the 1970s. The approach marked a

History of monetary system --Balance of payments and exchange rates --The foreign exchange markets --Exchange rate determination and forecasting --Exchange rate