商品簡介
Exchange rates and their peculiarities have been receiving increasing attention since the early 1970s, when the U.S. suspended the convertibility of the dollar into gold. In this extensively-referenced volume, Moosa (Monash U., Australia) and Bhatti (Gulf U. for Science and Technology, Kuwait) present detailed exposition--in diagrammatic and mathematical representations--of models of exchange rate determination and the balance of payments. They discuss the empirical evidence for the failure of macroeconomic models of exchange rates, reasons for their failure, and alternative approaches being increasingly embraced by mainstream economists: the microstructure approach, post-Keynesian economics, behavioral finance, and chaos theory. Annotation c2009 Book News, Inc., Portland, OR (booknews.com)
