Open Daily: 10am - 10pm | Alley door pickup 10am - 7pm 3038 Hennepin Ave Minneapolis, MN
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  • Open Daily: 10am - 10pm
    Alley-side Pickup: 10am - 7pm

    3038 Hennepin Ave Minneapolis, MN
    612-822-4611

Open Daily: 10am - 10pm | Alley-side Pickup: 10am - 7pm
3038 Hennepin Ave Minneapolis, MN
612-822-4611
Asset Markets and Exchange Rates: Modeling an Open Economy

Asset Markets and Exchange Rates: Modeling an Open Economy

Allen, Polly Reynolds
Kenen, Peter B.
Allen, Polly R.

Paperback

Series: Modelling an Open Economy

EconomicsInvesting & Finance

ISBN10: 0521274060
ISBN13: 9780521274067
Publisher: Cambridge University Press
Published: Jun 30 1983
Pages: 336
Weight: 1.23
Height: 0.86 Width: 6.06 Depth: 8.98
Language: English
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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