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Asset Markets and Exchange Rates: Modeling an Open Economy
Contributor(s): Allen, Polly R. (Author), Allen, Polly Reynolds (Author), Kenen, Peter B. (Author)

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 ISBN: 0521274060     ISBN-13: 9780521274067
Publisher: Cambridge University Press
OUR PRICE: $39.89  

Binding Type: Paperback - See All Available Formats & Editions
Published: June 1983
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Annotation: This paperback edition consists of the first three parts of Allen and Kenen??'s major book, Asset Markets, Exchange Rates, and Economic Integration. These three parts stand alone, as the authors intended and as reviewers have commented. In parts four and five of that volume they extend their model to two countries trading with the outside world and analyze questions of economic integration. The authors synthesize and extend recent developments in international monetary theory using a general model of an open economy that trades goods and assets with the outside world. The model embodies the asset market or portfolio approach to analyzing balance-of-payments adjustment. Exchange rates are determined in the short run by conditions in the asset markets and in the long run by conditions in the goods markets. The goods markets include an export good, and import good, and a nontradeable good. Allen and Kenen show that different assumptions about the substitutability between goods or between assets can generate several popular models as special cases of their own.

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Additional Information
BISAC Categories:
- Business & Economics | Foreign Exchange
- Business & Economics | Economics - Macroeconomics
- Business & Economics | Finance - General
Dewey: 332.45
LCCN: 79016874
Series: Modelling an Open Economy
Physical Information: 0.86" H x 6.06" W x 8.98" L (1.23 lbs) 336 pages
Features: Glossary
 
Descriptions, Reviews, Etc.
Publisher Description:
This paperback edition consists of the first three parts of Allen and Kenen's major book, Asset Markets, Exchange Rates, and Economic Integration. These three parts stand alone, as the authors intended and as reviewers have commented. In parts four and five of that volume they extend their model to two countries trading with the outside world and analyze questions of economic integration. The authors synthesize and extend recent developments in international monetary theory using a general model of an open economy that trades goods and assets with the outside world. The model embodies the asset market or portfolio approach to analyzing balance-of-payments adjustment. Exchange rates are determined in the short run by conditions in the asset markets and in the long run by conditions in the goods markets. The goods markets include an export good, and import good, and a nontradeable good. Allen and Kenen show that different assumptions about the substitutability between goods or between assets can generate several popular models as special cases of their own.
 
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