Author : International Monetary Fund
Publisher : International Monetary Fund
Page : 52 pages
File Size : 23,99 MB
Release : 1990-12-01
Category : Business & Economics
ISBN : 1451943229
The paper reviews recent theoretical and empirical developments in the analysis of informal currency markets in developing countries. The basic characteristics of these markets are highlighted, and alternative analytical models to explain them are discussed. The implications for exchange rate policy —including imposition of foreign exchange restrictions, devaluation, and unification of exchange markets— in countries with a sizable parallel market are also examined.
Author : Yasuo Murata
Publisher : Academic Press
Page : 439 pages
File Size : 20,37 MB
Release : 2014-05-10
Category : Business & Economics
ISBN : 1483271293
Economic Theory and Mathematical Economics: Mathematics for Stability and Optimization of Economic Systems provides information pertinent to the stability aspects and optimization methods relevant to various economic systems. This book presents relevant mathematical theorems sufficient to develop important economic systems, including Leontief input–output systems, Keynesian dynamic models, the Ramsey optimal accumulation systems, and von Neumann expanding economic systems. Organized into two parts encompassing nine chapters, this book begins with an overview of useful theorems on matrices, eigenvalue problems, and matrices with dominant diagonals and P-matrices. This text then explores the linear transformations on vector spaces. Other chapters consider the Hawkins–Simon theorem concerning non-negative linear systems. This book discusses as well the dual linear relations and optimization methods applicable to inequality economic systems. The final chapter deals with powerful optimal control method for dynamical systems. This book is a valuable resource for mathematicians, economists, research workers, and graduate students.
Author : Martin D. D. Evans
Publisher :
Page : 0 pages
File Size : 34,20 MB
Release : 2011
Category : Foreign exchange market
ISBN : 9781283009164
Variations in the foreign exchange market influence all aspects of the world economy, and understanding these dynamics is one of the great challenges of international economics. This book provides a new, comprehensive, and in-depth examination of the standard theories and latest research in exchange-rate economics. Covering a vast swath of theoretical and empirical work, the book explores established theories of exchange-rate determination using macroeconomic fundamentals, and presents unique microbased approaches that combine the insights of microstructure models with the macroeconomic forces.
Author : Mr.Simon T Gray
Publisher : International Monetary Fund
Page : 45 pages
File Size : 13,57 MB
Release : 2021-02-05
Category : Business & Economics
ISBN : 1513568639
Some central banks have maintained overvalued official exchange rates, while unable to ensure that supply of foreign exchange meets legitimate demand for current account transactions at that price. A parallel exchange rate market develops, in such circumstances; and when the spread between the official and parallel rates is both substantial and sustained, price levels in the economy typically reflect the parallel market exchange rate. “Recognizing reality” by allowing economic agents to use a market clearing rate benefits economic activity without necessarily leading to more inflation. But a unified, market-clearing exchange rate will not stabilize without a supportive fiscal and monetary context. A number of country case studies are included; my thanks to Jie Ren for pulling together all the data for the country case studies, and the production of the charts.
Author : Ronald MacDonald
Publisher : Routledge
Page : 334 pages
File Size : 19,11 MB
Release : 2005
Category : Foreign exchange
ISBN : 1134838220
''In summary, the book is valuable as a textbook both at the advanced undergraduate level and at the graduate level. It is also very useful for the economist who wants to be brought up-to-date on theoretical and empirical research on exchange rate behaviour.'' ""Journal of International Economics""
Author : Alexander Lipton
Publisher : World Scientific
Page : 702 pages
File Size : 34,51 MB
Release : 2001
Category : Business & Economics
ISBN : 9789810246150
This comprehensive book presents a systematic and practically oriented approach to mathematical modeling in finance, particularly in the foreign exchange context. It describes all the relevant aspects of financial engineering, including derivative pricing, in detail. The book is self-contained, with the necessary mathematical, economic, and trading background carefully explained. In addition to the lucid treatment of the standard material, it describes many original results. The book can be used both as a text for students of financial engineering, and as a basic reference for risk managers, traders, and academics.
Author : Miguel Alberto Kiguel
Publisher : Palgrave MacMillan
Page : 426 pages
File Size : 28,32 MB
Release : 1997
Category : Business & Economics
ISBN :
The evidence of black market exchange rate systems and their impact on macroeconomic performance is well documented in this fully researched study of the problem. The book offers policy conclusions after assessing the evidence.
Author : International Monetary Fund
Publisher : International Monetary Fund
Page : 132 pages
File Size : 28,20 MB
Release : 2004-05-19
Category : Business & Economics
ISBN : 1498330282
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Author : Jeffrey A. Frankel
Publisher : University of Chicago Press
Page : 358 pages
File Size : 10,14 MB
Release : 2009-05-15
Category : Business & Economics
ISBN : 0226260232
The foreign exchange market is the largest, fastest-growing financial market in the world. Yet conventional macroeconomic approaches do not explain why people trade foreign exchange. At the same time, they fail to explain the short-run determinants of the exchange rate. These nine innovative essays use a microstructure approach to analyze the workings of the foreign exchange market, with special emphasis on institutional aspects and the actual behavior of market participants. They examine the volume of transactions, heterogeneity of traders, the time of day and location of trading, the bid-ask spread, and the high level of exchange rate volatility that has puzzled many observers. They also consider the structure of the market, including such issues as nontransparency, asymmetric information, liquidity trading, the use of automated brokers, the relationship between spot and derivative markets, and the importance of systemic risk in the market. This timely volume will be essential reading for anyone interested in the economics of international finance.
Author : Sebastian Edwards
Publisher : Johns Hopkins University Press
Page : 110 pages
File Size : 11,13 MB
Release : 1988
Category : Business & Economics
ISBN :
This article analyzes the theory of equilibrium real exchange rates and defines misalignment as a deviation of the real exchange rate (RER) from its equilibrium level. The role of macroeconomic policies is then analyzed under three alternative nominal exchange rate regimes: predetermined nominal exchange rates; floating nominal rates; and dual or black market nominal exchange rates. This discussion points out how inconsistent macroeconomic policies often lead to real exchange rate misalignment. Corrective measures, including nominal devaluation and several alternative approaches, are then evaluated.
