Now in its third incarnation, this widely acclaimed and popular
text has again been fully updated and revised by the author. There
is a bewildering array of models to explain the volatility of
exchange rates since the collapse of the Bretton Woods system in
the early 1970s. It is therefore invaluable that Hans Visser is
able to bring method to this 'model madness' by grouping the
various theories according to the time period for which their
explanation is relevant, and further subdividing them according to
their assumptions as to price flexibility and international
financial asset substitutability. A Guide to International Monetary
Economics is a systematic overview of exchange rate theories, an
analysis of exchange rate systems and a discussion of exchange rate
policies including discussion of the obstacles that may confront
policymakers while running any particular system. This third
edition emphasises recent developments such as the creation and
expansion of the euro and the radical solution of dollarisation.
The book is a concise treatment of this complex field and does not
encumber the reader with a surfeit of potentially distracting
institutional details. As with previous editions, the emphasis is
on the economic reasoning behind the formulae while introducing
students to the mathematics that will enable them to pursue further
reading. This book is aimed at postgraduate and advanced
undergraduate students in general and international economics and
international finance, as well as business management scholars and
researchers specialising in finance. Professional economists
wishing to bring up to date their knowledge of the subject will
also find much within this book of value to them.
General
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