Currencies, Capital Flows and Crises, 1st Edition by John T. Harvey, Paperback, 9780415781206 | Buy online at The Nile
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Currencies, Capital Flows and Crises, 1st Edition

A post Keynesian analysis of exchange rate determination

Author: John T. Harvey   Series: Routledge Advances in Heterodox Economics

Currencies, Capital Flows and Crises, 1st Edition
Paperback
ISBN / EAN: 9780415781206
This textbook is prescribed for the following courses:
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Summary

This unique book examines exchange rates and portfolio capital flows from an objective perspective and the result is a book which will be of use to financial economists all over the world.

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Description

Breaking from conventional wisdom, this book provides an explanation of exchange rates based on the premise that it is financial capital flows and not international trade that represents the driving force behind currency movements. John T. Harvey combines analyses rooted in the scholarly traditions of John Maynard Keynes and Thorstein Veblen with that of modern psychology to produce a set of new theories to explain international monetary economics, including not only exchange rates but also world financial crises. In the book, the traditional approach is reviewed and critiqued and the alternative is then built by studying the psychology of the market and balance of payments questions. The central model has at its core Keynes' analysis of the macroeconomy and it assumes neither full employment nor balanced trade over the short or long run. Market participants' mental model, which they use to forecast future exchange rate movements, is specified and integrated into the explanation. A separate but related discussion of currency crises shows that three distinct tension points emerge in booming economies, any one of which can break and signal the collapse.Each of the models is compared to post-Bretton Woods history and the reader is shown exactly how various shifts and adjustments on the graphs can explain the dollar's ups and downs and the Mexican (1994) and Asian (1997) crises.

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About the Author

John T. Harvey is Professor of Economics at Texas Christian University, USA.

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Product Details

Publisher
Taylor & Francis Ltd | Routledge
Published
15th April 2010
Edition
1st
Pages
168
ISBN
9780415781206

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ISBN / EAN: 9780415781206
This textbook is prescribed for the following courses:
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