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The economics of foreign exchange and global finance

Author: Peijie Wang
Publisher: Berlin : Springer, 2009.
Edition/Format:   Print book : English : 2nd ed
Summary:
"This book presents all major subjects in international monetary theory, foreign exchange markets, international financial management and investment analysis. The book is relevant to real world problems in the sense that it provides guidance on how to solve policy issues as well as practical management tasks. This in turn helps the reader to gain an understanding of the theory and refines the  Read more...
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Material Type: Internet resource
Document Type: Book, Internet Resource
All Authors / Contributors: Peijie Wang
ISBN: 9783642001062 3642001068 9783642001000 3642001009
OCLC Number: 318673797
Description: xiv, 432 pages : illustrations ; 24 cm
Contents: 1. Foreign Exchange Markets and Foreign Exchange Rates --
1.1. Foreign Exchange Rate Quotations and Arbitrage --
1.1.1. Foreign Exchange Quotations --
1.1.2. Cross Rates and Arbitrage --
1.2. Foreign Exchange Transactions --
1.2.1. The Bid-Ask Spread --
1.2.2. Transaction Costs and Arbitrage Opportunities --
1.3. Spot and Forward Exchange Rates --
1.4. Effective Exchange Rates --
1.5. Other Currency Markets --
2. Exchange Rate Regimes and International Monetary Systems --
2.1. Exchange Rate Regimes --
2.2. A Brief History of International Monetary Systems --
2.3. The European Single Currency --
3. International Parity Conditions --
3.1. Purchasing Power Parity --
3.1.1. Absolute Purchasing Power Parity --
3.1.2. Real Exchange Rates --
3.1.3. Relative Purchasing Power Parity --
3.1.4. Factors Contributing to the Departure from PPP --
3.1.5. Empirical Tests and Evidence on PPP --
3.2. Interest Rate Parities --
3.2.1. Covered Interest Rate Parity --
3.2.2. CIRP and Arbitrage in the Presence of Transaction Costs --
3.2.3. Uncovered Interest Rate Parity --
3.3. International Fisher Effect --
3.4. Links Between the Parities: a Summary --
4. Balance of Payments and International Investment Positions --
4.1. Balance of Payments --
4.1.1. Balance of Payments Accounts and Classification --
4.1.2. Balance of Payments Entries and Recording --
4.1.3. The Balance of Payment Identity --
4.2. International Investment Position Statements and Analysis --
5. Open Economy Macroeconomics --
5.1. The Balance of Payments, National Accounts and International Economic Linkages --
5.1.1. National Accounts with an External Sector --
5.1.2. International Economic Linkages --
5.2. IS --
LM in Open Economy Macroeconomics --
5.2.1. IS --
LM Analysis --
5.2.2. IS --
LM --
BP Analysis --
5.3. Aggregate Supply and Assumptions on Price Attributes --
6. Balance of Payments Issues and Exchange Rate Movements --
6.1. The Elasticity Approach --
6.2. The Absorption Approach --
6.3. The Monetary Approach --
6.4. DIPI Analysis and DIDI Analysis --
7. The Mundell-Fleming Model --
7.1. Effects and Effectiveness of Monetary Policy and Fiscal Policy --
Perfect Capital Mobility --
7.1.1. Monetary Expansion --
Perfect Capital Mobility, Flexible Exchange Rates --
7.1.2. Fiscal Expansion --
Perfect Capital Mobility, Flexible Exchange Rates --
7.1.3. Monetary Expansion --
Perfect Capital Mobility, Fixed Exchange Rates --
7.1.4. Fiscal Expansion --
Perfect Capital Mobility, Fixed Exchange Rates --
7.2. Effects and Effectiveness of Monetary Policy and Fiscal Policy --
Imperfect Capital Mobility --
7.2.1. Monetary Expansion --
Imperfect Capital Mobility, Flexible Exchange Rates --
7.2.2. Fiscal Expansion --
Imperfect Capital Mobility, Flexible Exchange Rates --
7.2.3. Monetary Expansion --
Imperfect Capital Mobility, Fixed Exchange Rates --
7.2.4. Fiscal Expansion --
Imperfect Capital Mobility, Fixed Exchange Rates --
7.3. Monetary Policy Versus Fiscal Policy --
7.3.1. Effect on Income --
7.3.2. Effects on the Exchange Rate and Official Reserves --
7.3.3. Effect on the Balance of Payments Current Account --
8. The Flexible Price Monetary Model --
8.1. Demand for Money in Two Countries and Foreign Exchange Rate Determination --
8.2. Expectations, Fundamentals, and the Exchange Rate --
8.3. Rational Bubbles and Tests for the Forward-Looking Monetary Model --
8.4. Empirical Evidence on the Validity of the Monetary Model --
9. The Dornbusch Model --
9.1. The Building Blocks of the Model and the Evolution Paths of the Exchange Rate and the Price --
9.2. Adjustments of the Exchange Rate and the Price and Overshooting of the Exchange Rate --
9.3. A Tale of Reverse Shooting and the Sensitivity of Exchange Rate Behaviour --
9.4. The Real Interest Rate Differential Model --
9.5. Empirical Evidence on the Dornbusch Model and Some Related Developments --
10. The Portfolio Balance Approach to Exchange Rate Determination --
10.1. Three Assets and Market Equilibria --
10.2. Effects of Monetary Policy under the Portfolio Balance Approach --
10.3. Effects of Changing Economic Environments and Risk Perceptions --
10.4. Theoretical and Empirical Research and Developments in the Portfolio Balance Framework --
11. Global Derivatives Markets --
11.1. Global Use of Derivatives --
Current State, Trends and Changing Patterns --
11.2. Organised Derivatives Exchanges, Contract Specifications and Trading --
11.3. Use of Derivatives Shapes Investor Behaviour, Risk Management Concept and Risk Management Methods --
12. Currency Futures --
12.1. Futures Contracts and Trading --
12.2. Futures Quotes --
12.3. Pricing of Futures Products --
13. Currency Options --
13.1. Option Basics --
13.2. Option Terminology and Quotes --
13.3. Currency Options --
13.4. Option Pricing --
the Binomial Tree Approach --
13.5. Option Pricing --
the Black-Scholes Model --
14. Currency Swaps --
14.1. Basics of Swaps --
14.2. Currency Swaps --
14.3. Swapnotes --
15. Transaction Exposure --
15.1. Introduction to Transaction Exposure and Its Management --
15.2. Forward Hedge and Futures Hedge --
15.3. Money Market Hedge --
15.4. Option Hedge --
16. Economic Exposure and Accounting Exposure --
16.1. Measuring Economic Exposure --
16.2. Managing Economic Exposure --
16.3. Measuring Accounting Exposure --
16.4. Managing Accounting Exposure --
17. Country Risk and Sovereign Risk Analysis --
17.1. Factors of Influence on Country Risk --
17.2. Country Risk Analysis and Ratings --
17.3. Sovereign Risk Analysis and Ratings --
18. Foreign Direct Investment and International Portfolio Investment --
18.1. Recent Profiles of Foreign Direct Investment --
18.2. FDI Types and Strategies --
18.3. International Portfolio Investment.
Responsibility: by Peijie Wang.
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Abstract:

The book presents all major subjects in international monetary theory, foreign exchange markets, international financial management and investment analysis. It is relevant to real world problems.  Read more...

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