Interest Rates, Exchange Rates and World Monetary Policy

Authors: Floyd, John E.

  • Real exchange rate determination and the workings of monetary policy of individual countries in a world economy

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eBook $169.00
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  • ISBN 978-3-642-10280-6
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  • ISBN 978-3-642-10279-0
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About this book

A careful basic theoretical and econometric analysis of the factors determining the real exchange rates of Canada, the U.K., Japan, France and Germany with respect to the United States is conducted. The resulting conclusion is that real exchange rates are almost entirely determined by real factors relating to growth and technology such as oil and commodity prices, international allocations of world investment across countries, and underlying terms of trade changes. Unanticipated money supply shocks, calculated in five alternative ways have virtually no effects. A Blanchard-Quah VAR analysis also indicates that the effects of real shocks predominate over monetary shocks by a wide margin. The implications of these facts for the conduct of monetary policy in countries outside the U.S. are then explored leading to the conclusion that all countries, to avoid exchange rate overshooting, have tended to automatically follow the same monetary policy as the United States. The history of world monetary policy is reviewed along with the determination of real exchange rates within the Euro Area.

Table of contents (16 chapters)

Buy this book

eBook $169.00
price for USA (gross)
  • ISBN 978-3-642-10280-6
  • Digitally watermarked, DRM-free
  • Included format: PDF
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Hardcover $219.00
price for USA
  • ISBN 978-3-642-10279-0
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
Softcover $219.00
price for USA
  • ISBN 978-3-642-42454-0
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
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Bibliographic Information

Bibliographic Information
Book Title
Interest Rates, Exchange Rates and World Monetary Policy
Authors
Copyright
2010
Publisher
Springer-Verlag Berlin Heidelberg
Copyright Holder
Springer-Verlag Berlin Heidelberg
eBook ISBN
978-3-642-10280-6
DOI
10.1007/978-3-642-10280-6
Hardcover ISBN
978-3-642-10279-0
Softcover ISBN
978-3-642-42454-0
Edition Number
1
Number of Pages
XII, 404
Topics