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000841603 020__ $$z9781606498200$$qpaperback
000841603 020__ $$a9781606498217$$q(electronic bk.)
000841603 035__ $$a(MiAaPQ)EBC1815868
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000841603 035__ $$a(CaONFJC)MIL651367
000841603 035__ $$a(OCoLC)893913699
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000841603 050_4 $$aHG3851$$b.G473 2015
000841603 0820_ $$a332.45$$223
000841603 1001_ $$aGerdes, William D.,$$eauthor.
000841603 24514 $$aThe basics of foreign exchange markets :$$ba monetary systems approach /$$cWilliam D. Gerdes.
000841603 250__ $$aFirst edition.
000841603 264_1 $$aNew York, New York (222 East 46th Street, New York, NY 10017) :$$bBusiness Expert Press,$$c2015.
000841603 300__ $$a1 online resource (90 pages)
000841603 336__ $$atext$$2rdacontent
000841603 337__ $$acomputer$$2rdamedia
000841603 338__ $$aonline resource$$2rdacarrier
000841603 4901_ $$aEconomics collection,$$x2163-7628
000841603 500__ $$aPart of: 2014 digital library.
000841603 504__ $$aIncludes bibliographical references (page [87]) and index.
000841603 5050_ $$a1. Introduction -- 2. Money and monetary systems -- 3. Foreign exchange markets -- 4. Foreign exchange markets with commodity and fiduciary monies -- 5. Foreign exchange markets with fiat money: fixed exchange rates -- 6. Foreign exchange markets with fiat money: flexible exchange rates -- 7. Proposals advanced by critics of flexible exchange rates -- Notes -- References -- Index.
000841603 506__ $$aAccess limited to authorized users.
000841603 5203_ $$aForeign exchange markets are inextricably entwined with underlying monetary standards. Thus, they are treated conjointly. Four different exchange rate regimes are analyzed: (1) foreign exchange markets with commodity money; (2) foreign exchange markets with fiduciary money; (3) foreign exchange markets with fiat money--fixed exchange rates; and, (4) foreign exchange markets with fiat money--flexible exchange rates. For the last eight decades, most countries have operated with fiat monies. For proponents of the fiat money standard, one of its desirable attributes is that it provides individual countries with considerable monetary autonomy. However, both analytics and experience indicate that this is not always the case. Whether a country has more monetary autonomy depends upon whether fiat money is paired with fixed exchange rates (regime 3) or flexible exchange rates (regime 4). More autonomy is possible with flexible exchange rates (regime 4). Such autonomy is largely possible because foreign exchange markets are allowed to accommodate the wide variations in national monetary policies. Under this regime, the purchasing power parity (PPP) theory of exchange rates assumes elevated importance in accounting for foreign exchange market adjustments. Exchange rate regime 4 has been in place (in many countries) for more than four decades, and there are critics. Those who advocate scrapping this arrangement generally favor a return to either regime 2 or regime 3.
000841603 588__ $$aTitle from PDF title page (viewed on October 25, 2014).
000841603 650_0 $$aForeign exchange market.
000841603 650_0 $$aForeign exchange rates.
000841603 653__ $$acentral banking
000841603 653__ $$acommodity money
000841603 653__ $$adeflation
000841603 653__ $$afiduciary money
000841603 653__ $$afiat money
000841603 653__ $$afixed exchange rates
000841603 653__ $$aflexible exchange rates
000841603 653__ $$ainflation
000841603 653__ $$apurchasing power parity
000841603 655_0 $$aElectronic books
000841603 77608 $$iPrint version:$$z9781606498200
000841603 830_0 $$a2014 digital library.
000841603 830_0 $$aEconomics collection.$$x2163-7628
000841603 852__ $$bebk
000841603 85640 $$3ProQuest Ebook Central Academic Complete $$uhttps://univsouthin.idm.oclc.org/login?url=https://ebookcentral.proquest.com/lib/usiricelib-ebooks/detail.action?docID=1815868$$zOnline Access
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000841603 980__ $$aBIB
000841603 980__ $$aEBOOK
000841603 982__ $$aEbook
000841603 983__ $$aOnline