This book poses the important
question of whether exchange rates are ultimately tied down by economic fundamentals. In a
unique approach the subject is analysed from an asset holder's perspective and Streissler
takes the reader through an authoritative and wide-ranging study including:
*Friedman's case for flexible exchange rates
*interest parity and purchasing power parity
*process analysis of temporal exchange rate equilibria
*stabilization through bounded interest rates and exchange rate theory
*the problem of the neutrality of money
Contents:
Lecture I: Fundamentals? Exchange rates in the light of Schumpeter but not of Dioletian
Lecture II: Preliminaries Friedman's case for flexible exchange rates versus random walks
in theory and practice
Lecture III: Equilibria? Interest parity and purchasing power parity - which kind of
equilibria?
Lecture IV: Divergence Process analysis of temporal exchange rate equilibria
Lecture V: Stabilization Further results on process equilibria and countervailing forces
making for mean reversion
Lecture VI: Mere demand and supply Stabilization through bounded interest rates and
exchange rate theory "Without the contrivance of macroeconomics"
Lecture VII: Non-neutrality I On the nature of money - or: The story of Anacharsis the
Scythian, Part I
Lecture VIII: Non-neutrality II The story of Anacharsis the Scythian Part II
Extent:
160 pages
(Dimensions 234x156 mm)
Illustrations:
7 line figures
