- Cover image
- Title page
- Table of Contents
- Copyright
- Preface
- Acknowledgments
- To the Student
- Part I: The International Monetary Environment
- Chapter 1. The Foreign Exchange Market
- Abstract
- Foreign Exchange Trading Volume
- Geographic Foreign Exchange Rate Activity
- Spot Exchange Rates
- Currency Arbitrage
- Short-Term Foreign Exchange Rate Movements
- Long-Term Foreign Exchange Movements
- Summary
- Exercises
- Further Reading
- Appendix A Trade-Weighted Exchange Rate Indexes
- Appendix B The Top Foreign Exchange Dealers
- Chapter 2. International Monetary Arrangements
- Abstract
- The Gold Standard: 1880–1914
- The Interwar Period: 1918–1939
- The Bretton Woods Agreement: 1944–1973
- Central Bank Intervention During Bretton Woods
- The Breakdown of the Bretton Woods System
- The Transition Years: 1971–1973
- International Reserve Currencies
- Post Bretton Woods: 1973 to the Present
- The Choice of an Exchange Rate System
- Currency Boards and “Dollarization”
- Optimum Currency Areas
- The European Monetary System and the Euro
- Summary
- Exercises
- Further Reading
- Appendix A Current Exchange Rate Arrangements
- Chapter 3. The Balance of Payments
- Chapter 1. The Foreign Exchange Market
- Part II: International Parity Conditions
- Chapter 4. Forward-Looking Market Instruments
- Chapter 5. Eurocurrency Markets and the LIBOR
- Chapter 6. Exchange Rates, Interest Rates, and Interest Parity
- Abstract
- Interest Rate Parity
- Effective Return on a Foreign Investment
- Deviations From Covered Interest Rate Parity
- Interest Rates and Inflation
- Exchange Rates, Interest Rates, and Inflation
- Expected Exchange Rates and the Term Structure of Interest Rates
- Summary
- Exercises
- Further Reading
- Appendix A What are Logarithms, and Why are They Used in Financial Research?
- Chapter 7. Prices, Exchange Rates, and Purchasing Power Parity
- Part III: Risk and International Capital Flows
- Part IV: Modeling the Exchange Rate and Balance of Payments
- Chapter 12. Determinants of the Balance of Trade
- Chapter 13. The IS-LM-BP Approach
- Abstract
- The Internal and External Macroeconomic Equilibrium
- The IS Curve
- The LM Curve
- The BP Curve
- Equilibrium
- Monetary Policy Under Fixed Exchange Rates
- Fiscal Policy Under Fixed Exchange Rates
- Monetary Policy Under Floating Exchange Rates
- Fiscal Policy Under Floating Exchange Rates
- Using the IS-LM-BP Approach: The Asian Financial Crisis
- International Policy Coordination
- Summary
- Exercises
- Further Reading
- Appendix A The Open Economy Multiplier
- Chapter 14. The Monetary Approach
- Chapter 15. Extensions and Challenges to the Monetary Approach
- Glossary
- Index
International Money and Finance
Ninth Edition
Michael Melvin
Stefan Norrbin
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