Exchange Rates and International Finance Third Edition

Author: Copeland
Publisher:
Publish Date: 2002-04-01
Features: This book has a very distinctive feature, as the author explains the contemporary foreign exchange rate theory in an accessible manner, covering both introductory knowledge and more advanced uncertainty analysis. The complex mathematical parts are simplified, using geometric mathematical methods for analysis and presentation. Undergraduate economics students, business management graduate students, bank employees, and other financial workers, as long as they have basic mathematical and economic knowledge, can read this book and grasp its key points. The focus of this book is to introduce foreign exchange rate theory under a floating exchange rate system rather than policy. The book is divided into four parts, with the second part being the essence of the book—determinants of foreign exchange rates. In this section, the author introduces the main schools of contemporary Western foreign exchange rate theory and their origins. Other parts of the book discuss related issues to foreign exchange rate theory, such as balance of payments, the evolution of the international monetary system, international financial markets in open economies, expectations of foreign exchange rate and international interest rate changes, buying and selling foreign exchange futures, and risks in foreign exchange transactions.