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A01=Mohsen Bahmani-Oskooee
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Author_Mohsen Bahmani-Oskooee
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Exchange Rates in Developed & Emerging Markets: Practices, Challenges & Economic Implications

English

By (author): Mohsen Bahmani-Oskooee

Exchange rate is perhaps one of the most important macroeconomic variables that link the economy of one country with the rest of the world. When it changes, it affects almost all other sectors and many other macro variables. For example, when a country''''s currency depreciates, its exports become cheaper in terms of foreign currency and imports more expensive in terms of domestic currency. By exporting more and importing less, the trade balance is improved. Or when domestic currency depreciates (foreign currency appreciates), domestic currency value of foreign assets held by domestic residents increases. If this increase is perceived as an increase in wealth, domestic residents could increase their consumption at home. This leads to an increase in demand for money. However, if there are expectations of further appreciation of foreign currency, they may hold more foreign currency and less domestic currency. Other channels through which currency depreciation affects domestic consumption is through the redistribution effect. Depreciation is inflationary. Since wages do not adjust to inflation instantaneously, profit will be realised at the cost of workers. This amounts to transferring income from workers to producers. Since workers have a high propensity to consumers than producers, eventually domestic consumption declines. Other variables that are said to be affected by exchange rate changes include domestic investment, income distribution, the stock market, etc. This book deals with economic implications of exchange rate changes in emerging economies pertaining to some of the issues mentioned above. See more
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A01=Mohsen Bahmani-OskooeeAge Group_UncategorizedAuthor_Mohsen Bahmani-Oskooeeautomatic-updateCategory1=Non-FictionCategory=KCLFCategory=KCMCOP=United StatesDelivery_Delivery within 10-20 working daysLanguage_EnglishPA=In stockPrice_€100 and abovePS=Activesoftlaunch
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Product Details
  • Weight: 618g
  • Dimensions: 180 x 260mm
  • Publication Date: 01 Oct 2013
  • Publisher: Nova Science Publishers Inc
  • Publication City/Country: United States
  • Language: English
  • ISBN13: 9781628081640
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