Key Features:Deals with the theory of exchange rate determination as well as the theory of the balance of payments under fixed exchange ratesEmphasizes the microstructure approach to exchange rates as a viable alternative to the macroeconomic approachDeals with various models in an integrated...

Several explanations have been put forward for the observation that massive inflation has not appeared as a result of the explosive monetary growth generated by quantitative easing that was in 2008. Several plausible explanations have been put forward for this observation, but none of them can...