Ebook313 pages6 hours
Misalignment of Exchange Rates: Effects on Trade and Industry
Rating: 0 out of 5 stars
()
About this ebook
Economists writing on flexible exchange rates in the 1960s foresaw neither the magnitude nor the persistence of the changes in real exchange rates that have occurred in the last fifteen years. Unexpectedly large movements in relative prices have lead to sharp changes in exports and imports, disrupting normal trading relations and causing shifts in employment and output. Many of the largest changes are not equilibrium adjustments to real disturbances but represent instead sustained departures from long-run equilibrium levels, with real exchange rates remaining "misaligned" for years at a time.
Contributors to Misalignment of Exchange Rates address a series of questions about misalignment. Several papers investigate the causes of misalignment and the extent to which observed movements in real exchange rates can be attributed to misalignment. These studies are conducted both empirically, through the experiences of the United States, Great Britain, Japan, and the countries of the European Monetary System, and theoretically, through models of imperfect competition. Attention is then turned to the effects of misalignment, especially on employment and production, and to detailed estimates of the effects of changes in exchange rates on several industries, including the U.S. auto industry. In response to the contention that there is significant "hysteresis" in the adjustment of employment and production to changes in exchange rates, contributors also attempt to determine whether the effects of misalignment can be reversed once exchange rates return to earlier levels. Finally, the issue of how to avoid—or at least control—misalignment through macroeconomic policy is confronted.
Contributors to Misalignment of Exchange Rates address a series of questions about misalignment. Several papers investigate the causes of misalignment and the extent to which observed movements in real exchange rates can be attributed to misalignment. These studies are conducted both empirically, through the experiences of the United States, Great Britain, Japan, and the countries of the European Monetary System, and theoretically, through models of imperfect competition. Attention is then turned to the effects of misalignment, especially on employment and production, and to detailed estimates of the effects of changes in exchange rates on several industries, including the U.S. auto industry. In response to the contention that there is significant "hysteresis" in the adjustment of employment and production to changes in exchange rates, contributors also attempt to determine whether the effects of misalignment can be reversed once exchange rates return to earlier levels. Finally, the issue of how to avoid—or at least control—misalignment through macroeconomic policy is confronted.
Related to Misalignment of Exchange Rates
Related ebooks
Trade Policies for International Competitiveness Rating: 0 out of 5 stars0 ratingsJapanese Monetary Policy Rating: 0 out of 5 stars0 ratingsInternational Capital Flows Rating: 0 out of 5 stars0 ratingsCommodity Prices and Markets Rating: 0 out of 5 stars0 ratingsExchange Rates and International Macroeconomics Rating: 0 out of 5 stars0 ratingsRational Expectations and Economic Policy Rating: 0 out of 5 stars0 ratingsFinancing Corporate Capital Formation Rating: 0 out of 5 stars0 ratingsExchange Rate Theory and Practice Rating: 0 out of 5 stars0 ratingsThe Exchange Rate in a Behavioral Finance Framework Rating: 0 out of 5 stars0 ratingsEquity Markets in Action: The Fundamentals of Liquidity, Market Structure & Trading + CD Rating: 0 out of 5 stars0 ratingsFinding Value in the Market - The Fundamentals of Fundamental Analysis Rating: 0 out of 5 stars0 ratingsHandbook of Alternate Assets Rating: 3 out of 5 stars3/5The Complete Guide to Hedge Funds and Hedge Fund Strategies Rating: 3 out of 5 stars3/5Sectors and Styles: A New Approach to Outperforming the Market Rating: 1 out of 5 stars1/5Theory and Portfolios: An Economic History of Mpt, Apt, and the Capm from 1952 to 1986. Rating: 0 out of 5 stars0 ratingsMulti-moment Asset Allocation and Pricing Models Rating: 0 out of 5 stars0 ratingsInformation and Learning in Markets: The Impact of Market Microstructure Rating: 0 out of 5 stars0 ratingsThe Liquidity Theory of Asset Prices Rating: 5 out of 5 stars5/5Portfolio Risk Analysis Rating: 4 out of 5 stars4/5Macroprudential Policy Framework Rating: 0 out of 5 stars0 ratingsSystemic Liquidity Risk and Bipolar Markets: Wealth Management in Today's Macro Risk On / Risk Off Financial Environment Rating: 0 out of 5 stars0 ratingsHandbook of Financial Markets: Dynamics and Evolution Rating: 0 out of 5 stars0 ratingsCapital Flows and the Emerging Economies: Theory, Evidence, and Controversies Rating: 0 out of 5 stars0 ratingsSingle Stock Futures: A Trader's Guide Rating: 0 out of 5 stars0 ratingsThe Mathematics of Derivatives Securities with Applications in MATLAB Rating: 0 out of 5 stars0 ratingsHandbook of Market Risk Rating: 4 out of 5 stars4/5Exam Prep for:: Macro Tb T/A Principles Of Economics Rating: 0 out of 5 stars0 ratingsExtreme Events: Robust Portfolio Construction in the Presence of Fat Tails Rating: 0 out of 5 stars0 ratingsMeasuring Operational and Reputational Risk: A Practitioner's Approach Rating: 5 out of 5 stars5/5Extreme Events in Finance: A Handbook of Extreme Value Theory and its Applications Rating: 0 out of 5 stars0 ratings
Foreign Exchange For You
How to Turn $ 5,000 into a Million Rating: 4 out of 5 stars4/5Inflation: What It Is, Why It's Bad, and How to Fix It Rating: 4 out of 5 stars4/5High Profit Price Action Trading for Beginners Rating: 2 out of 5 stars2/5The Truth About Technical Analysis to Win on the Stock Market Rating: 0 out of 5 stars0 ratingsThe Naked Swiss: The Nation Behind 10 Myths Rating: 0 out of 5 stars0 ratingsCurrency Trading For Dummies Rating: 5 out of 5 stars5/5Understand Banks & Financial Markets: An Introduction to the International World of Money & Finance Rating: 4 out of 5 stars4/5The Talking Chart Rating: 4 out of 5 stars4/5You Will Be Assimilated: China’s Plan to Sino-form the World Rating: 5 out of 5 stars5/5Beginners Forex Swing Trading Guide Rating: 0 out of 5 stars0 ratingsForex Trading - The Basics Explained in Simple Terms Rating: 4 out of 5 stars4/5How to Day Trade on a $500 account Rating: 0 out of 5 stars0 ratingsEasy Money Forex Futures Trading for Beginners Rating: 0 out of 5 stars0 ratingsBitcoin and Cryptocurrency Technologies: A Comprehensive Introduction Rating: 5 out of 5 stars5/5Cryptocurrency Trading Guide Rating: 5 out of 5 stars5/5How Global Currencies Work: Past, Present, and Future Rating: 0 out of 5 stars0 ratingsShort Intro To Forex Trading Rating: 0 out of 5 stars0 ratingsSwing Trading using the 4-hour chart 1-3: 3 Manuscripts Rating: 5 out of 5 stars5/5MT4/MT5 & TradingView High Probability Forex Trading Method Rating: 4 out of 5 stars4/5Day Trading EUR/USD, M5 Chart Analysis +1000% for One Month ST Patterns Step by Step Rating: 5 out of 5 stars5/5Scalping is Fun! 2: Part 2: Practical examples Rating: 5 out of 5 stars5/5Control Your Inner Trader: Trading Psychology Made Easy, #1 Rating: 5 out of 5 stars5/5Multiple Time Frame Analysis for Beginner Traders Rating: 1 out of 5 stars1/5How to Avoid Fear and Greed as a Trading Beginner Rating: 4 out of 5 stars4/5Automated Trading Masterclass: How to Create a Trading Bot In 15 Minutes with No Prior Experience Rating: 0 out of 5 stars0 ratings
Reviews for Misalignment of Exchange Rates
Rating: 0 out of 5 stars
0 ratings
0 ratings0 reviews
Book preview
Misalignment of Exchange Rates - Richard C. Marston
Enjoying the preview?
Page 1 of 1