For this two-volume set the editor has selected the key contributions to the field of open economy macroeconomics which have been made over the past half century and more. The articles selected cover traditional open economy models, first generation intertemporal open economy models, the...

The book details 15 puzzling facts associated with open economies and the FX market. After reviewing existing explanations to these puzzles, the author shows how each of the above new theories provides new, often unified solutions to them.

The Uncovered Interest Parity (UIP) puzzle has remained a moot point since it first circulated economic discourse in 1984 and, despite a number of attempts at a solution, the UIP puzzle and other anomalies in Exchange Rate Economics continue to perplex economic thought in international finance....