Exchange-Rate Dynamics / / Martin D. D. Evans.

• Superior document: Title is part of eBook package: De Gruyter Princeton University Press eBook-Package Backlist 2000-2013
• VerfasserIn: Evans, Martin D. D.,
• Place / Publishing House: Princeton, NJ : : Princeton University Press, , [2011]; ©2011
• Year of Publication: 2011
• Language: English
• Series: Princeton Series in International Economics
• Physical Description: 1 online resource (600 p.) :; 46 line illus. 34 tables.
• Other title: Frontmatter --; Contents --; Preface --; PART I MACRO MODELS --; Chapter 1 Macro Models without Frictions --; Chapter 2 Macro Models with Frictions --; Chapter 3 Empirical Macro Models --; PART II MICROSTRUCTURE MODELS --; Chapter 4 Rational Expectations Models --; Chapter 5 Sequential Trade Models --; Chapter 6 Currency-Trading Models --; Chapter 7 Currency-Trading Models: Empirical Evidence --; Chapter 8 Identifying Order Flow --; PART III MICRO-BASED MODELS --; Chapter 9 Order Flows and the Macroeconomy --; Chapter 10 Exchange Rates, Order Flows, and Macro Data --; Chapter 11 Exchange-Rate Risk --; References --; Index
• Format: Mode of access: Internet via World Wide Web.
• ISBN: 9781400838844; 9783110442502
• DOI: 10.1515/9781400838844?locatt=mode:legacy
• Access: restricted access
• Hierarchical level: Monograph
• Statement of Responsibility: Martin D. D. Evans.

A comprehensive and in-depth look at exchange-rate dynamicsVariations in the foreign exchange market influence all aspects of the world economy, and understanding these dynamics is one of the great challenges of international economics. This book provides a new, comprehensive, and in-depth examination of the standard theories and latest research in exchange-rate economics. Covering a vast swath of theoretical and empirical work, the book explores established theories of exchange-rate determination using macroeconomic fundamentals, and presents unique microbased approaches that combine the insights of microstructure models with the macroeconomic forces driving currency trading.Macroeconomic models have long assumed that agents—households, firms, financial institutions, and central banks—all have the same information about the structure of the economy and therefore hold the same expectations and uncertainties regarding foreign currency returns. Microbased models, however, look at how heterogeneous information influences the trading decisions of agents and becomes embedded in exchange rates. Replicating key features of actual currency markets, these microbased models generate a rich array of empirical predictions concerning trading patterns and exchange-rate dynamics that are strongly supported by data. The models also show how changing macroeconomic conditions exert an influence on short-term exchange-rate dynamics via their impact on currency trading.Designed for graduate courses in international macroeconomics, international finance, and finance, and as a go-to reference for researchers in international economics, Exchange-Rate Dynamics guides readers through a range of literature on exchange-rate determination, offering fresh insights for further reading and research.Comprehensive and in-depth examination of the latest research in exchange-rate economicsOutlines theoretical and empirical research across the spectrum of modeling approachesPresents new results on the importance of currency trading in exchange-rate determinationProvides new perspectives on long-standing puzzles in exchange-rate economicsEnd-of-chapter questions cement key ideas