International Money and Finance

ISBN: 9780128041062 出版年：2017 页码：345 Melvin, Michael Norrbin, Stefan Academic Press_RM

Part 1 The foreign exchange market: spot rates arbitrage central bank intervention black markets and parallel markets foreign exchange trading volume appendix 1a - exchange rate indexes appendix 1b - the top foreign exchange dealers. Part 2 The balance of payments: current account financing the current account additional summary measures transactions classification balance-of-payments equilibrium and adjustment. Part 3 Past and present international monetary arrangements: the Gold standard - 1880 to 1914 the interwar period - 1918 to 1939 the Gold exchange standard - 1944 to 1970 the transition years - 1971 to 1973 floating exchange rates - 1973 to the present the choice of an exchange rate system optimum currency system optimum currency areas international reserve currencies multiple exchange rates. Part 4 Forward-looking market instruments: forward rates swaps futures options recent practices. Part 5 Exchange rate, interest rates and interest parity: interest parity interest rates and inflation exchange rates, interest rates and inflation expected exchange rates and the term structure of interest rates appendix - what are logarithms, and why are they used in financial research. Part 6 Foreign exchange risk and forecasting: types of foreign exchange risk foreign exchange risk premium market efficiency foreign exchange forecasting. Part 7 International investment and capital flows: portfolio diversification international investment opportunities direct foreign investment capital flight. Part 8 Prices and exchange rates - purchasing power parity: absolute purchasing power parity relative purchasing power parity time, inflation and PPP deviations from PPP "overvalued" and "undervalued" currencies. Part 9 Determinants of the balance of trade and payments: elasticities approach to the balance of trade elasticities and j curves currency contract period pass-through analysis the evidence from devaluations absorption approach to the balance of trade monetary approach to the balance of payments. Part 10 Exchange rate determination: the asset approach sterilisation exchange rates and the trade balance overshooting exchange rates currency substitution the role of news. Part 11 Import and export financing: institutions executing transactions letters of credit bankers' acceptances an example of trade financing. Part 12 Financial management of the multinational firm. Part 13 The international money market. Part 14 Macroeconomic policy in the open economy.