ABSTRACT
This book poses the important question of whether exchange rates are ultimately tied down by economic fundamentals. In a unique approach the subject is analysed from an asset holder's perspective and Streissler takes the reader through an authoritative and wide-ranging study including:*Friedman's case for flexible exchange rates*interest parity and
TABLE OF CONTENTS
chapter |19 pages
Lecture I Fundamentals?
Exchange rates in the light of Schumpeter, but not of Diocletian
chapter |21 pages
Lecture II Preliminaries
Friedman’s case for flexible exchange rates versus random walks in theory and practice
chapter |19 pages
Lecture III Equilibria?
Interest parity and purchasing power parity – which kind of equilibria?
chapter |21 pages
Lecture V Stabilization
Further results on process equilibria and countervailing forces making for mean reversion
chapter |16 pages
Lecture VI Mere demand and supply
Stabilization through bounded interest rates and exchange rate theory ‘without the contrivance of macroeconomics’
chapter |26 pages
Lecture VII Non-neutrality
On the neutrality of money – or: the story of Anacharsis the Scythian
