Journal ArticleDOI
Asset Markets, Exchange Rates, and Economic Integration
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This article is published in Foreign Affairs.The article was published on 1980-01-01. It has received 46 citations till now. The article focuses on the topics: Asset (economics) & Economic integration.read more
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Book ChapterDOI
Chapter 33 Empirical research on nominal exchange rates
TL;DR: In this article, the authors present a critical survey and an interpretation of recent exchange rate research, focusing on empirical results for exchange rates among major industrialized countries and examining the issue of speculative bubbles.
Posted Content
'New' Views on the Optimum Currency Area Theory: What is EMU Telling Us?
TL;DR: In this paper, a survey of the optimum currency area (OCA) literature is presented, which is organized into four phases: the "pioneering phase" which put forward the OCA theory and its properties, the "reconciliation phase" when its diverse facets were combined, the ''reassessment phase'' that led to the ''new OCA'' theory, and the ''empirical phase'' during which the theory was subject to due empirical scrutiny.
Book
The European Union: Economics and Policies
TL;DR: In this article, the authors present the basic statistics of the EU, including the following: 1. The Theory of Economic Integration. 2. European Monetary Integration. 3. Measuring the impact of economic integration.
Book ChapterDOI
Chapter 15 The specification and influence of asset markets
TL;DR: In this article, the authors discuss portfolio balance models with postulated asset demands, asset demands broadly consistent with but not directly implied by microeconomic theory, and discuss that the consumer arrives at his or her asset demands by maximizing his or their utility given interest rates and the parameters of the distributions of prices and exchange rates.
Book ChapterDOI
Chapter 19 Empirical studies of exchange rates: Price behavior, rate determination and market efficiency
TL;DR: In this article, the authors provide an overview of empirical results concerning recent exchange rate behavior, including the relationship between the forward rate and future spot rate, and the evidence of the efficiency of markets in removing risky profit opportunities.