Skip to main content Accessibility help
×
  1. Home
  2. Books
  3. Asset Markets and Exchange Rates
  • Cited by 52
      • You may already have access via personal or institutional login
    • Select format
    • Publisher:
      Cambridge University Press
      Publication date:
      22 March 2010
      31 August 1980
      ISBN:
      9780511664540
      9780521274067
      DOI:
      https://doi.org/10.1017/CBO9780511664540
      Dimensions:
      Weight & Pages:
      Dimensions:
      (228 x 152 mm)
      Weight & Pages:
      0.502kg, 336 Pages
      • Subjects:
      Economics, International Economics, Finance and Accountancy
    You may already have access via personal or institutional login
    • Selected: Digital
    Add to cart View cart Buy from Cambridge.org
    Subjects:
    Economics, International Economics, Finance and Accountancy
    Information

    Book description

    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.

    Reviews

    ‘It seems to me an important achieveent. It works out in detail and in a notably systematic fashion the implications of the new approach to balance of payments or exchange rate theory. One of its most pleasing characteristics is its honesty. The implications of various assumptions are made very clear, and their limitations pointed out.’

    W. M. Corden Source: The Economic Journal

    ‘It can justifiably be regarded as an updated version of Meade’s treatise on the balance of payments which synthesized neoclassical price theory and Keynesian expenditure theory … rigorous, elegant, lucid and masterly, this treatise is an outstanding contribution in the taxonomic tradition.’

    P. Robson Source: Economica

    Refine List

    Actions for selected content:

    Select all | Deselect all
    • View selected items
    • Export citations
    • Download PDF (zip)
    • Save to Kindle
    • Save to Dropbox
    • Save to Google Drive

    Save Search

    You can save your searches here and later view and run them again in "My saved searches".

    Please provide a title, maximum of 40 characters.
    Cancel
    ×

    Contents

    Contents

    Metrics

    Full text views

    Total number of HTML views: 0
    Total number of PDF views: 0 *
    Loading metrics...

    Book summary page views

    Total views: 0 *
    Loading metrics...

    * Views captured on Cambridge Core between #date#. This data will be updated every 24 hours.

    Usage data cannot currently be displayed.

    Accessibility standard: Unknown

    Why this information is here

    This section outlines the accessibility features of this content - including support for screen readers, full keyboard navigation and high-contrast display options. This may not be relevant for you.

    Accessibility Information

    Accessibility compliance for the PDF of this book is currently unknown and may be updated in the future.