Description
Book SynopsisExchange Rates and Global Financial Policies brings together research and work done by world-class economist Paul De Grauwe over the past two decades. Drawing inspiration from behavioural finance literature, De Grauwe covers topics such as exchange rate economics, monetary integration (with particular attention on the Eurozone), and international macroeconomics.His work is categorised across three parts. The first part develops new theoretical and empirical approaches to exchange rate modelling. The second part features a collection of papers on the theory and empirical analysis of monetary unions. The final part contains criticism of mainstream macroeconomic models as well as proposed alternative modelling approaches.
Table of ContentsExchange Rate Economics: A Chaotic Model of the Exchange Rate: The Role of Fundamentalists and Chartists; Heterogeneity of Agents, Transaction Costs and the Exchange Rate; Exchange Rate Puzzles: A Tale of Switching Attractors; Exchange Rates in Search of Fundamentals; Exchange Rates and Fundamentals: A Non-Linear Relationship?; The Impact of FX Central Bank Intervention in a Noise Trading Framework; Monetary Integration: Conditions for Monetary Integration: A Geometric Interpretation; Is Europe an Optimum Currency Area?: Evidence from Regional Data; Setting Conversion Rates for the Third Stage of EMU; The Euro and Financial Crises; What Have We Learnt About Monetary Integration Since the Maastricht Treaty; Managing the Fragility of the Eurozone; Do Asymmetries Matter for European Monetary Policy; Macroeconomics And Monetary Policy: Is Inflation Always and Everywhere a Monetary Phenomenon; Monetary Policy and the Real Economy; Lessons From the Banking Crisis: A Return to Narrow Banking; The Scientific Foundation of Dynamic Stochastic General Equilibrium (DSGE) Models; Animal Spirits and Monetary Policy; Booms and Busts in Economic Activity: A Behavioral Explanation.
