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Download Currencies, Capital Flows and Crises: A post Keynesian analysis of exchange rate determination (Routledge Advances in Heterodox Economics) epub

by John T. Harvey




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.

Download Currencies, Capital Flows and Crises: A post Keynesian analysis of exchange rate determination (Routledge Advances in Heterodox Economics) epub
ISBN: 0415781205
ISBN13: 978-0415781206
Category: Business
Subcategory: International
Author: John T. Harvey
Language: English
Publisher: Routledge; 1 edition (January 15, 2009)
Pages: 176 pages
ePUB size: 1768 kb
FB2 size: 1300 kb
Rating: 4.5
Votes: 232
Other Formats: lit txt docx mobi

Fararala
Really should have been further edited. The writing style is exhausting, almost intentionally complex. The underlying information is very good though, well researched and thought provoking. It's worth wading through the chunkiness of the presentation. If you're deeply interesting in alternative ERD models I do recommend it.
Brariel
good good good
blac wolf
An extraordinarily good comparison on the core neoclassical models of exchange rate determination, with a far more useful and realistic Post-Keynesian model, incorporating uncertainty, investor psychology, Minskian financial fragility, and the recurrence of endogenously generated financial crises. Excellent. It should be used widely in university courses on international finance, at about third year level.