The Macroeconomics of International Currencies
Theory, Policy and Evidence
Currency substitution is a growing phenomenon in world financial markets and has been an integral part of financial and exchange rate developments in the period since the collapse of the Bretton Woods agreement.
The concept, causes and consequences of currency substitution for modern economic policies are thoroughly addressed by the authors in this scholarly and wide-ranging book which addresses theory, economic policy making and the empirical evidence.
The Macroeconomics of International Currencies examines both the theoretical and empirical consequences of currency substitution and assesses its importance for policy debates. The editors have brought together contributors with international reputations in the field who have the knowledge and experience to give the book a global coverage. This book focuses on the implications of currency substitution for economic integration, financial innovation and structural adjustment.
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What Reviewers Are Saying
`. . . this volume contains many essays which provide valuable insights in the phenomenon of currency substitution.' -- Ivo Maes, Kyklos