Introduction
Part 1: Balance of Payments Theory and Practice
1. The Foreign Exchange System
2. The Balance of Payments
3. Elasticity and Absorption Approaches to the Balance of Payments
4. Macroeconomic Policy in an Open Economy
5. The Monetary Approach to the Balance of Payments
Part 2: Exchange Rate Determination: Theory, Evidence and Policy
6. Purchasing Power Parity Theory and Floating Exchange Rate Experience
7. Modern Models of Exchange Rate Determination
8. The Portfolio Balance Model
9. Empirical Evidence on Exchange Rates
10. Fixed, Floating and Managed Exchange Rates
Part 3: The Post-war International Monetary System
11. The International Monetary System
12. The Eurocurrency and Eurobond Markets
13. Currency Derivatives: Futures, Options and Swaps
14. International Macroeconomic Policy Coordination
15. The Latin American Debt Crisis
16. The European Monetary System and European Monetary Union
17. Currency Crises and the East Asian Financial Crisis
18. Financial Innovation and the Credit Crunch
