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A rigorous theoretical and econometric analysis of how interest rates and exchange rates interact with world monetary policy. John E. Floyd examines the determinants of real exchange rates among major industrial countries (Canada, U.K., Japan, France, and Germany) relative to the United States, showing that real economic factors such as growth, technology, and terms of trade largely drive exchange rate movements, whereas unanticipated monetary shocks have limited effects. The book then explores the implications for national monetary policies in an integrated global economy, arguing that many countries effectively follow U.S. monetary posture to avoid exchange rate instability, and reviews the history of world monetary arrangements and policy coordination under flexible and fixed exchange rate regimes.

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245: $a: Interest Rates, Exchange Rates and World Monetary Policy
245: $b:
082: $a:
100: $a: John E. Floyd
650: $a: Economics
250: $a:
440: $v:
250: $b: Springer-Verlag Berlin Heidelberg
250: $c: 2010
020: $a: 9783642102806
300: $a: 404