Money in international exchange :: the convertible currency system /
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
New York :
Oxford University Press,
1979.
|
| Schlagworte: | |
| Online-Zugang: | Volltext |
| Beschreibung: | 1 online resource (xii, 294 pages) |
| Bibliographie: | Includes bibliographical references and index. |
| ISBN: | 9780195365405 0195365402 |
Internformat
MARC
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| 035 | |a (OCoLC)252583814 |z (OCoLC)455966827 |z (OCoLC)646800459 |z (OCoLC)655848183 |z (OCoLC)756881196 |z (OCoLC)961617703 |z (OCoLC)962620929 | ||
| 050 | 4 | |a HG3881 |b .M2737 1979eb | |
| 055 | 1 | 4 | |a HG3881 |b .M2737 1979eb |
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| 049 | |a MAIN | ||
| 100 | 1 | |a McKinnon, Ronald I. |0 http://id.loc.gov/authorities/names/n50007266 | |
| 245 | 1 | 0 | |a Money in international exchange : |b the convertible currency system / |c Ronald I. McKinnon. |
| 260 | |a New York : |b Oxford University Press, |c 1979. | ||
| 300 | |a 1 online resource (xii, 294 pages) | ||
| 336 | |a text |b txt |2 rdacontent | ||
| 337 | |a computer |b c |2 rdamedia | ||
| 338 | |a online resource |b cr |2 rdacarrier | ||
| 504 | |a Includes bibliographical references and index. | ||
| 588 | 0 | |a Print version record. | |
| 505 | 0 | |a Pt.1. In Search of International Money: The Convertible Currency System -- Convertibility and Commercial Trading: Official Restraints on Asset Choice -- The Interbank Market for Convertible Currencies -- The Monetary Conditions for Long-Run Exchange Stability -- Technical Note: Foreign Exchange Quotations -- Pt.2. Invention by Central Banks In A World of N Currencies -- N Currencies and N-1 Exchange Rates -- Official Parities and Triangular Arbitrage -- The Choice of the Nth Currency -- The United States as a Vehicle Currency for Commercial Banks -- Inconvertibility, Less Developed Countries, and Pegged Exchanged Rates -- Fixed versus Floating Exchange Rates -- P.3. Currency Inconvertibility and the Foreign Trade of Centrally Planned Economies -- Central Planning and Commodity Inconvertibility -- Multilateral Exchange with the West -- Bilateralism within the Council for Mutual Economic Assistance (CMEA) -- The Determination of Foreign Trade Prices in the CMEA -- Barter, Command Planning, and Economic Sovereignty -- A Gold Ruble? -- Full Liberalization and the Monetary Conditions for Exchange-Rate Stability -- Pt.4. Hedging by Exporters and Importers -- the Currency of Invoice: Tradables I and II -- Currency Risk and the Structure of Trade Credit -- Inventory Valuation Adjustment versus Forward Covering -- Financial Predominance, Tradables II, and the Optimum Double Hedge -- Technical Note: Optimum Forward Cover -- Pt.5. Forward Covering and Interest Arbitrage in Imperfect Capital Markets -- The Trader's Liquidity and Spot versus Forward Covering -- The Empirical Magnitude of Forward Transacting -- Heading Pressure and Bias in the Forward Exchange Rate -- The Importance of Covered Interest Arbitrage -- Forward Market Equilibrium and Interest-Rate Parity -- Imperfections in the Supply of Arbitrage Founds -- Short-Term Capital Flows and the Public Interest -- Technical Note: Covered Interest Arbitrage -- Pt.6. Purchasing Power Parity -- The Law of One Prince and the Absolute Version of Purchasing Power Parity -- Relative Purchasing Power Parity and the "Real" Exchange Rate -- Some Bilateral Statistical Comparisons -- Multilateral Comparisons of Effective Exchange Rates and Prices -- Deviations from the Law of One Price under Fluctuating Exhange Rates -- Implications for Trader Hedging -- Per Capita Income Comparisons and Exchange-Rate Conversions -- Pt.7. Speculation -- Ch.1. Floating Exchange Rates among Convertible Currencies -- On Aggregating Open Positions over All Maturities -- The Demand for Stabilizing Speculation and the "J" Curve -- The Supply of Stabilizing Speculation -- Banking Risk versus Currency Risk -- Multinational Corporations and Other Nonspeculators -- Speculating without International Money -- Ch.2. Pegged Exchange Rates and Speculation against Central Banks -- Leads and Lags -- Changing the Currency of Invoice -- Official Speculation and Exchange Controls -- Pt.8. Fluctuating Exchange Rates, 1973-1978: A Qualified Monetary Interpretation -- Keynesian Liquidity Preference and the Rate of Interest In an Open Economy -- Foreign Exchange Dealers and the Domestic Money Market -- The Interest Elasticity of the Liquidity-Preference Function -- Exchange-Rate Fluctuations under Full Information -- Uncertain Expectations -- Optimum Currency Areas -- Intervention by Central Banks: A Concluding Note -- Pt.9. The Eurocurrency Market -- Regulatory Asymmetry: A Potted History -- The Mechanics of Transacting and the Scope of the Market -- Problems of Statistical Measurment: Some Conceptual Difficulties -- The Foreign Exchange Aspect: Covering and Interest Arbitrage -- Liquidity Creation and Domestic Financial Intermediation -- International Capital Transfers -- A Concluding Note on Regulation -- Pt.10. Monetary Unions and Fixed Exchange Rates -- Secular Growth in the Money Supply and the Prices of Tradable Goods -- Official Intervention and Nonsterilization -- The Symmetry Rule and the Aggregate Monetary Base -- On Flexing the System: Discounting and Short-Term -- Capital Flows -- Concluding Note -- Pt.11. America's Role in Stabilizing the World's Monetary System -- The Marshall Plan and the Remonetization of Western European Trade (1948-1959) -- Realization of the Bretton Woods Agreement and the Dollar-Gold Exchange Standard (1959-1968) -- Uncertainly Pegged Exchange Rates and the International Transmission of Inflation (1968-1973) -- Freely Floating Exchange Rates (1973-Present) | |
| 650 | 0 | |a International finance. |0 http://id.loc.gov/authorities/subjects/sh85067405 | |
| 650 | 0 | |a Monetary unions. |0 http://id.loc.gov/authorities/subjects/sh85086789 | |
| 650 | 0 | |a Foreign exchange rates. |0 http://id.loc.gov/authorities/subjects/sh91004893 | |
| 650 | 0 | |a Foreign exchange. |0 http://id.loc.gov/authorities/subjects/sh85050496 | |
| 650 | 6 | |a Finances internationales. | |
| 650 | 6 | |a Unions monétaires. | |
| 650 | 6 | |a Change. | |
| 650 | 6 | |a Taux de change. | |
| 650 | 7 | |a BUSINESS & ECONOMICS |x Foreign Exchange. |2 bisacsh | |
| 650 | 7 | |a Système monétaire international. |2 eclas | |
| 650 | 7 | |a Foreign exchange |2 fast | |
| 650 | 7 | |a Foreign exchange rates |2 fast | |
| 650 | 7 | |a International finance |2 fast | |
| 650 | 7 | |a Monetary unions |2 fast | |
| 650 | 7 | |a Internationales Währungssystem |2 gnd |0 http://d-nb.info/gnd/4072901-1 | |
| 650 | 7 | |a Wechselkurs |2 gnd |0 http://d-nb.info/gnd/4064921-0 | |
| 650 | 1 | 7 | |a Internationale financiën. |2 gtt |
| 650 | 1 | 7 | |a Monetaire samenwerking. |2 gtt |
| 650 | 1 | 7 | |a Wisselkoersen. |2 gtt |
| 776 | 0 | 8 | |i Print version: |a McKinnon, Ronald I. |t Money in international exchange. |d New York : Oxford University Press, 1979 |w (DLC) 78000673 |
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Datensatz im Suchindex
| DE-BY-FWS_katkey | ZDB-4-EBU-ocn252583814 |
|---|---|
| _version_ | 1816796897291010048 |
| adam_text | |
| any_adam_object | |
| author | McKinnon, Ronald I. |
| author_GND | http://id.loc.gov/authorities/names/n50007266 |
| author_facet | McKinnon, Ronald I. |
| author_role | |
| author_sort | McKinnon, Ronald I. |
| author_variant | r i m ri rim |
| building | Verbundindex |
| bvnumber | localFWS |
| callnumber-first | H - Social Science |
| callnumber-label | HG3881 |
| callnumber-raw | HG3881 .M2737 1979eb |
| callnumber-search | HG3881 .M2737 1979eb |
| callnumber-sort | HG 43881 M2737 41979EB |
| callnumber-subject | HG - Finance |
| classification_rvk | QM 331 |
| collection | ZDB-4-EBU |
| contents | Pt.1. In Search of International Money: The Convertible Currency System -- Convertibility and Commercial Trading: Official Restraints on Asset Choice -- The Interbank Market for Convertible Currencies -- The Monetary Conditions for Long-Run Exchange Stability -- Technical Note: Foreign Exchange Quotations -- Pt.2. Invention by Central Banks In A World of N Currencies -- N Currencies and N-1 Exchange Rates -- Official Parities and Triangular Arbitrage -- The Choice of the Nth Currency -- The United States as a Vehicle Currency for Commercial Banks -- Inconvertibility, Less Developed Countries, and Pegged Exchanged Rates -- Fixed versus Floating Exchange Rates -- P.3. Currency Inconvertibility and the Foreign Trade of Centrally Planned Economies -- Central Planning and Commodity Inconvertibility -- Multilateral Exchange with the West -- Bilateralism within the Council for Mutual Economic Assistance (CMEA) -- The Determination of Foreign Trade Prices in the CMEA -- Barter, Command Planning, and Economic Sovereignty -- A Gold Ruble? -- Full Liberalization and the Monetary Conditions for Exchange-Rate Stability -- Pt.4. Hedging by Exporters and Importers -- the Currency of Invoice: Tradables I and II -- Currency Risk and the Structure of Trade Credit -- Inventory Valuation Adjustment versus Forward Covering -- Financial Predominance, Tradables II, and the Optimum Double Hedge -- Technical Note: Optimum Forward Cover -- Pt.5. Forward Covering and Interest Arbitrage in Imperfect Capital Markets -- The Trader's Liquidity and Spot versus Forward Covering -- The Empirical Magnitude of Forward Transacting -- Heading Pressure and Bias in the Forward Exchange Rate -- The Importance of Covered Interest Arbitrage -- Forward Market Equilibrium and Interest-Rate Parity -- Imperfections in the Supply of Arbitrage Founds -- Short-Term Capital Flows and the Public Interest -- Technical Note: Covered Interest Arbitrage -- Pt.6. Purchasing Power Parity -- The Law of One Prince and the Absolute Version of Purchasing Power Parity -- Relative Purchasing Power Parity and the "Real" Exchange Rate -- Some Bilateral Statistical Comparisons -- Multilateral Comparisons of Effective Exchange Rates and Prices -- Deviations from the Law of One Price under Fluctuating Exhange Rates -- Implications for Trader Hedging -- Per Capita Income Comparisons and Exchange-Rate Conversions -- Pt.7. Speculation -- Ch.1. Floating Exchange Rates among Convertible Currencies -- On Aggregating Open Positions over All Maturities -- The Demand for Stabilizing Speculation and the "J" Curve -- The Supply of Stabilizing Speculation -- Banking Risk versus Currency Risk -- Multinational Corporations and Other Nonspeculators -- Speculating without International Money -- Ch.2. Pegged Exchange Rates and Speculation against Central Banks -- Leads and Lags -- Changing the Currency of Invoice -- Official Speculation and Exchange Controls -- Pt.8. Fluctuating Exchange Rates, 1973-1978: A Qualified Monetary Interpretation -- Keynesian Liquidity Preference and the Rate of Interest In an Open Economy -- Foreign Exchange Dealers and the Domestic Money Market -- The Interest Elasticity of the Liquidity-Preference Function -- Exchange-Rate Fluctuations under Full Information -- Uncertain Expectations -- Optimum Currency Areas -- Intervention by Central Banks: A Concluding Note -- Pt.9. The Eurocurrency Market -- Regulatory Asymmetry: A Potted History -- The Mechanics of Transacting and the Scope of the Market -- Problems of Statistical Measurment: Some Conceptual Difficulties -- The Foreign Exchange Aspect: Covering and Interest Arbitrage -- Liquidity Creation and Domestic Financial Intermediation -- International Capital Transfers -- A Concluding Note on Regulation -- Pt.10. Monetary Unions and Fixed Exchange Rates -- Secular Growth in the Money Supply and the Prices of Tradable Goods -- Official Intervention and Nonsterilization -- The Symmetry Rule and the Aggregate Monetary Base -- On Flexing the System: Discounting and Short-Term -- Capital Flows -- Concluding Note -- Pt.11. America's Role in Stabilizing the World's Monetary System -- The Marshall Plan and the Remonetization of Western European Trade (1948-1959) -- Realization of the Bretton Woods Agreement and the Dollar-Gold Exchange Standard (1959-1968) -- Uncertainly Pegged Exchange Rates and the International Transmission of Inflation (1968-1973) -- Freely Floating Exchange Rates (1973-Present) |
| ctrlnum | (OCoLC)252583814 |
| dewey-full | 332.4/5 |
| dewey-hundreds | 300 - Social sciences |
| dewey-ones | 332 - Financial economics |
| dewey-raw | 332.4/5 |
| dewey-search | 332.4/5 |
| dewey-sort | 3332.4 15 |
| dewey-tens | 330 - Economics |
| discipline | Wirtschaftswissenschaften |
| format | Electronic eBook |
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McKinnon.</subfield></datafield><datafield tag="260" ind1=" " ind2=" "><subfield code="a">New York :</subfield><subfield code="b">Oxford University Press,</subfield><subfield code="c">1979.</subfield></datafield><datafield tag="300" ind1=" " ind2=" "><subfield code="a">1 online resource (xii, 294 pages)</subfield></datafield><datafield tag="336" ind1=" " ind2=" "><subfield code="a">text</subfield><subfield code="b">txt</subfield><subfield code="2">rdacontent</subfield></datafield><datafield tag="337" ind1=" " ind2=" "><subfield code="a">computer</subfield><subfield code="b">c</subfield><subfield code="2">rdamedia</subfield></datafield><datafield tag="338" ind1=" " ind2=" "><subfield code="a">online resource</subfield><subfield code="b">cr</subfield><subfield code="2">rdacarrier</subfield></datafield><datafield tag="504" ind1=" " ind2=" "><subfield code="a">Includes bibliographical references and index.</subfield></datafield><datafield tag="588" ind1="0" ind2=" "><subfield code="a">Print version record.</subfield></datafield><datafield tag="505" ind1="0" ind2=" "><subfield code="a">Pt.1. In Search of International Money: The Convertible Currency System -- Convertibility and Commercial Trading: Official Restraints on Asset Choice -- The Interbank Market for Convertible Currencies -- The Monetary Conditions for Long-Run Exchange Stability -- Technical Note: Foreign Exchange Quotations -- Pt.2. Invention by Central Banks In A World of N Currencies -- N Currencies and N-1 Exchange Rates -- Official Parities and Triangular Arbitrage -- The Choice of the Nth Currency -- The United States as a Vehicle Currency for Commercial Banks -- Inconvertibility, Less Developed Countries, and Pegged Exchanged Rates -- Fixed versus Floating Exchange Rates -- P.3. Currency Inconvertibility and the Foreign Trade of Centrally Planned Economies -- Central Planning and Commodity Inconvertibility -- Multilateral Exchange with the West -- Bilateralism within the Council for Mutual Economic Assistance (CMEA) -- The Determination of Foreign Trade Prices in the CMEA -- Barter, Command Planning, and Economic Sovereignty -- A Gold Ruble? -- Full Liberalization and the Monetary Conditions for Exchange-Rate Stability -- Pt.4. Hedging by Exporters and Importers -- the Currency of Invoice: Tradables I and II -- Currency Risk and the Structure of Trade Credit -- Inventory Valuation Adjustment versus Forward Covering -- Financial Predominance, Tradables II, and the Optimum Double Hedge -- Technical Note: Optimum Forward Cover -- Pt.5. Forward Covering and Interest Arbitrage in Imperfect Capital Markets -- The Trader's Liquidity and Spot versus Forward Covering -- The Empirical Magnitude of Forward Transacting -- Heading Pressure and Bias in the Forward Exchange Rate -- The Importance of Covered Interest Arbitrage -- Forward Market Equilibrium and Interest-Rate Parity -- Imperfections in the Supply of Arbitrage Founds -- Short-Term Capital Flows and the Public Interest -- Technical Note: Covered Interest Arbitrage -- Pt.6. Purchasing Power Parity -- The Law of One Prince and the Absolute Version of Purchasing Power Parity -- Relative Purchasing Power Parity and the "Real" Exchange Rate -- Some Bilateral Statistical Comparisons -- Multilateral Comparisons of Effective Exchange Rates and Prices -- Deviations from the Law of One Price under Fluctuating Exhange Rates -- Implications for Trader Hedging -- Per Capita Income Comparisons and Exchange-Rate Conversions -- Pt.7. Speculation -- Ch.1. Floating Exchange Rates among Convertible Currencies -- On Aggregating Open Positions over All Maturities -- The Demand for Stabilizing Speculation and the "J" Curve -- The Supply of Stabilizing Speculation -- Banking Risk versus Currency Risk -- Multinational Corporations and Other Nonspeculators -- Speculating without International Money -- Ch.2. Pegged Exchange Rates and Speculation against Central Banks -- Leads and Lags -- Changing the Currency of Invoice -- Official Speculation and Exchange Controls -- Pt.8. Fluctuating Exchange Rates, 1973-1978: A Qualified Monetary Interpretation -- Keynesian Liquidity Preference and the Rate of Interest In an Open Economy -- Foreign Exchange Dealers and the Domestic Money Market -- The Interest Elasticity of the Liquidity-Preference Function -- Exchange-Rate Fluctuations under Full Information -- Uncertain Expectations -- Optimum Currency Areas -- Intervention by Central Banks: A Concluding Note -- Pt.9. The Eurocurrency Market -- Regulatory Asymmetry: A Potted History -- The Mechanics of Transacting and the Scope of the Market -- Problems of Statistical Measurment: Some Conceptual Difficulties -- The Foreign Exchange Aspect: Covering and Interest Arbitrage -- Liquidity Creation and Domestic Financial Intermediation -- International Capital Transfers -- A Concluding Note on Regulation -- Pt.10. Monetary Unions and Fixed Exchange Rates -- Secular Growth in the Money Supply and the Prices of Tradable Goods -- Official Intervention and Nonsterilization -- The Symmetry Rule and the Aggregate Monetary Base -- On Flexing the System: Discounting and Short-Term -- Capital Flows -- Concluding Note -- Pt.11. America's Role in Stabilizing the World's Monetary System -- The Marshall Plan and the Remonetization of Western European Trade (1948-1959) -- Realization of the Bretton Woods Agreement and the Dollar-Gold Exchange Standard (1959-1968) -- Uncertainly Pegged Exchange Rates and the International Transmission of Inflation (1968-1973) -- Freely Floating Exchange Rates (1973-Present)</subfield></datafield><datafield tag="650" ind1=" " ind2="0"><subfield code="a">International finance.</subfield><subfield code="0">http://id.loc.gov/authorities/subjects/sh85067405</subfield></datafield><datafield tag="650" ind1=" " ind2="0"><subfield code="a">Monetary unions.</subfield><subfield code="0">http://id.loc.gov/authorities/subjects/sh85086789</subfield></datafield><datafield tag="650" ind1=" " ind2="0"><subfield code="a">Foreign exchange rates.</subfield><subfield code="0">http://id.loc.gov/authorities/subjects/sh91004893</subfield></datafield><datafield tag="650" ind1=" " ind2="0"><subfield code="a">Foreign exchange.</subfield><subfield code="0">http://id.loc.gov/authorities/subjects/sh85050496</subfield></datafield><datafield tag="650" ind1=" " ind2="6"><subfield code="a">Finances internationales.</subfield></datafield><datafield tag="650" ind1=" " ind2="6"><subfield code="a">Unions monétaires.</subfield></datafield><datafield tag="650" ind1=" " ind2="6"><subfield code="a">Change.</subfield></datafield><datafield tag="650" ind1=" " ind2="6"><subfield code="a">Taux de change.</subfield></datafield><datafield tag="650" ind1=" " ind2="7"><subfield code="a">BUSINESS & ECONOMICS</subfield><subfield code="x">Foreign Exchange.</subfield><subfield code="2">bisacsh</subfield></datafield><datafield tag="650" ind1=" " ind2="7"><subfield code="a">Système monétaire international.</subfield><subfield code="2">eclas</subfield></datafield><datafield tag="650" ind1=" " ind2="7"><subfield code="a">Foreign exchange</subfield><subfield code="2">fast</subfield></datafield><datafield tag="650" ind1=" " ind2="7"><subfield code="a">Foreign exchange rates</subfield><subfield code="2">fast</subfield></datafield><datafield tag="650" ind1=" " ind2="7"><subfield code="a">International finance</subfield><subfield code="2">fast</subfield></datafield><datafield tag="650" ind1=" " ind2="7"><subfield code="a">Monetary unions</subfield><subfield code="2">fast</subfield></datafield><datafield tag="650" ind1=" " ind2="7"><subfield code="a">Internationales Währungssystem</subfield><subfield code="2">gnd</subfield><subfield code="0">http://d-nb.info/gnd/4072901-1</subfield></datafield><datafield tag="650" ind1=" " ind2="7"><subfield code="a">Wechselkurs</subfield><subfield code="2">gnd</subfield><subfield code="0">http://d-nb.info/gnd/4064921-0</subfield></datafield><datafield tag="650" ind1="1" ind2="7"><subfield code="a">Internationale financiën.</subfield><subfield code="2">gtt</subfield></datafield><datafield tag="650" ind1="1" ind2="7"><subfield code="a">Monetaire samenwerking.</subfield><subfield code="2">gtt</subfield></datafield><datafield tag="650" ind1="1" ind2="7"><subfield code="a">Wisselkoersen.</subfield><subfield code="2">gtt</subfield></datafield><datafield tag="776" ind1="0" ind2="8"><subfield code="i">Print version:</subfield><subfield code="a">McKinnon, Ronald I.</subfield><subfield code="t">Money in international exchange.</subfield><subfield code="d">New York : Oxford University Press, 1979</subfield><subfield code="w">(DLC) 78000673</subfield></datafield><datafield tag="856" ind1="4" ind2="0"><subfield code="l">FWS01</subfield><subfield code="p">ZDB-4-EBU</subfield><subfield code="q">FWS_PDA_EBU</subfield><subfield code="u">https://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&AN=330537</subfield><subfield code="3">Volltext</subfield></datafield><datafield tag="938" ind1=" " ind2=" "><subfield code="a">Internet Archive</subfield><subfield code="b">INAR</subfield><subfield code="n">moneyininternati00mcki</subfield></datafield><datafield tag="938" ind1=" " ind2=" "><subfield code="a">ebrary</subfield><subfield code="b">EBRY</subfield><subfield code="n">ebr10279116</subfield></datafield><datafield tag="938" ind1=" " ind2=" "><subfield code="a">EBSCOhost</subfield><subfield code="b">EBSC</subfield><subfield code="n">330537</subfield></datafield><datafield tag="938" ind1=" " ind2=" "><subfield code="a">ProQuest MyiLibrary Digital eBook Collection</subfield><subfield code="b">IDEB</subfield><subfield code="n">52280</subfield></datafield><datafield tag="938" ind1=" " ind2=" "><subfield code="a">YBP Library Services</subfield><subfield code="b">YANK</subfield><subfield code="n">2996156</subfield></datafield><datafield tag="994" ind1=" " ind2=" "><subfield code="a">92</subfield><subfield code="b">GEBAY</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">ZDB-4-EBU</subfield></datafield><datafield tag="049" ind1=" " ind2=" "><subfield code="a">DE-863</subfield></datafield></record></collection> |
| id | ZDB-4-EBU-ocn252583814 |
| illustrated | Not Illustrated |
| indexdate | 2024-11-26T14:48:58Z |
| institution | BVB |
| isbn | 9780195365405 0195365402 |
| language | English |
| oclc_num | 252583814 |
| open_access_boolean | |
| owner | MAIN DE-863 DE-BY-FWS |
| owner_facet | MAIN DE-863 DE-BY-FWS |
| physical | 1 online resource (xii, 294 pages) |
| psigel | ZDB-4-EBU |
| publishDate | 1979 |
| publishDateSearch | 1979 |
| publishDateSort | 1979 |
| publisher | Oxford University Press, |
| record_format | marc |
| spelling | McKinnon, Ronald I. http://id.loc.gov/authorities/names/n50007266 Money in international exchange : the convertible currency system / Ronald I. McKinnon. New York : Oxford University Press, 1979. 1 online resource (xii, 294 pages) text txt rdacontent computer c rdamedia online resource cr rdacarrier Includes bibliographical references and index. Print version record. Pt.1. In Search of International Money: The Convertible Currency System -- Convertibility and Commercial Trading: Official Restraints on Asset Choice -- The Interbank Market for Convertible Currencies -- The Monetary Conditions for Long-Run Exchange Stability -- Technical Note: Foreign Exchange Quotations -- Pt.2. Invention by Central Banks In A World of N Currencies -- N Currencies and N-1 Exchange Rates -- Official Parities and Triangular Arbitrage -- The Choice of the Nth Currency -- The United States as a Vehicle Currency for Commercial Banks -- Inconvertibility, Less Developed Countries, and Pegged Exchanged Rates -- Fixed versus Floating Exchange Rates -- P.3. Currency Inconvertibility and the Foreign Trade of Centrally Planned Economies -- Central Planning and Commodity Inconvertibility -- Multilateral Exchange with the West -- Bilateralism within the Council for Mutual Economic Assistance (CMEA) -- The Determination of Foreign Trade Prices in the CMEA -- Barter, Command Planning, and Economic Sovereignty -- A Gold Ruble? -- Full Liberalization and the Monetary Conditions for Exchange-Rate Stability -- Pt.4. Hedging by Exporters and Importers -- the Currency of Invoice: Tradables I and II -- Currency Risk and the Structure of Trade Credit -- Inventory Valuation Adjustment versus Forward Covering -- Financial Predominance, Tradables II, and the Optimum Double Hedge -- Technical Note: Optimum Forward Cover -- Pt.5. Forward Covering and Interest Arbitrage in Imperfect Capital Markets -- The Trader's Liquidity and Spot versus Forward Covering -- The Empirical Magnitude of Forward Transacting -- Heading Pressure and Bias in the Forward Exchange Rate -- The Importance of Covered Interest Arbitrage -- Forward Market Equilibrium and Interest-Rate Parity -- Imperfections in the Supply of Arbitrage Founds -- Short-Term Capital Flows and the Public Interest -- Technical Note: Covered Interest Arbitrage -- Pt.6. Purchasing Power Parity -- The Law of One Prince and the Absolute Version of Purchasing Power Parity -- Relative Purchasing Power Parity and the "Real" Exchange Rate -- Some Bilateral Statistical Comparisons -- Multilateral Comparisons of Effective Exchange Rates and Prices -- Deviations from the Law of One Price under Fluctuating Exhange Rates -- Implications for Trader Hedging -- Per Capita Income Comparisons and Exchange-Rate Conversions -- Pt.7. Speculation -- Ch.1. Floating Exchange Rates among Convertible Currencies -- On Aggregating Open Positions over All Maturities -- The Demand for Stabilizing Speculation and the "J" Curve -- The Supply of Stabilizing Speculation -- Banking Risk versus Currency Risk -- Multinational Corporations and Other Nonspeculators -- Speculating without International Money -- Ch.2. Pegged Exchange Rates and Speculation against Central Banks -- Leads and Lags -- Changing the Currency of Invoice -- Official Speculation and Exchange Controls -- Pt.8. Fluctuating Exchange Rates, 1973-1978: A Qualified Monetary Interpretation -- Keynesian Liquidity Preference and the Rate of Interest In an Open Economy -- Foreign Exchange Dealers and the Domestic Money Market -- The Interest Elasticity of the Liquidity-Preference Function -- Exchange-Rate Fluctuations under Full Information -- Uncertain Expectations -- Optimum Currency Areas -- Intervention by Central Banks: A Concluding Note -- Pt.9. The Eurocurrency Market -- Regulatory Asymmetry: A Potted History -- The Mechanics of Transacting and the Scope of the Market -- Problems of Statistical Measurment: Some Conceptual Difficulties -- The Foreign Exchange Aspect: Covering and Interest Arbitrage -- Liquidity Creation and Domestic Financial Intermediation -- International Capital Transfers -- A Concluding Note on Regulation -- Pt.10. Monetary Unions and Fixed Exchange Rates -- Secular Growth in the Money Supply and the Prices of Tradable Goods -- Official Intervention and Nonsterilization -- The Symmetry Rule and the Aggregate Monetary Base -- On Flexing the System: Discounting and Short-Term -- Capital Flows -- Concluding Note -- Pt.11. America's Role in Stabilizing the World's Monetary System -- The Marshall Plan and the Remonetization of Western European Trade (1948-1959) -- Realization of the Bretton Woods Agreement and the Dollar-Gold Exchange Standard (1959-1968) -- Uncertainly Pegged Exchange Rates and the International Transmission of Inflation (1968-1973) -- Freely Floating Exchange Rates (1973-Present) International finance. http://id.loc.gov/authorities/subjects/sh85067405 Monetary unions. http://id.loc.gov/authorities/subjects/sh85086789 Foreign exchange rates. http://id.loc.gov/authorities/subjects/sh91004893 Foreign exchange. http://id.loc.gov/authorities/subjects/sh85050496 Finances internationales. Unions monétaires. Change. Taux de change. BUSINESS & ECONOMICS Foreign Exchange. bisacsh Système monétaire international. eclas Foreign exchange fast Foreign exchange rates fast International finance fast Monetary unions fast Internationales Währungssystem gnd http://d-nb.info/gnd/4072901-1 Wechselkurs gnd http://d-nb.info/gnd/4064921-0 Internationale financiën. gtt Monetaire samenwerking. gtt Wisselkoersen. gtt Print version: McKinnon, Ronald I. Money in international exchange. New York : Oxford University Press, 1979 (DLC) 78000673 FWS01 ZDB-4-EBU FWS_PDA_EBU https://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&AN=330537 Volltext |
| spellingShingle | McKinnon, Ronald I. Money in international exchange : the convertible currency system / Pt.1. In Search of International Money: The Convertible Currency System -- Convertibility and Commercial Trading: Official Restraints on Asset Choice -- The Interbank Market for Convertible Currencies -- The Monetary Conditions for Long-Run Exchange Stability -- Technical Note: Foreign Exchange Quotations -- Pt.2. Invention by Central Banks In A World of N Currencies -- N Currencies and N-1 Exchange Rates -- Official Parities and Triangular Arbitrage -- The Choice of the Nth Currency -- The United States as a Vehicle Currency for Commercial Banks -- Inconvertibility, Less Developed Countries, and Pegged Exchanged Rates -- Fixed versus Floating Exchange Rates -- P.3. Currency Inconvertibility and the Foreign Trade of Centrally Planned Economies -- Central Planning and Commodity Inconvertibility -- Multilateral Exchange with the West -- Bilateralism within the Council for Mutual Economic Assistance (CMEA) -- The Determination of Foreign Trade Prices in the CMEA -- Barter, Command Planning, and Economic Sovereignty -- A Gold Ruble? -- Full Liberalization and the Monetary Conditions for Exchange-Rate Stability -- Pt.4. Hedging by Exporters and Importers -- the Currency of Invoice: Tradables I and II -- Currency Risk and the Structure of Trade Credit -- Inventory Valuation Adjustment versus Forward Covering -- Financial Predominance, Tradables II, and the Optimum Double Hedge -- Technical Note: Optimum Forward Cover -- Pt.5. Forward Covering and Interest Arbitrage in Imperfect Capital Markets -- The Trader's Liquidity and Spot versus Forward Covering -- The Empirical Magnitude of Forward Transacting -- Heading Pressure and Bias in the Forward Exchange Rate -- The Importance of Covered Interest Arbitrage -- Forward Market Equilibrium and Interest-Rate Parity -- Imperfections in the Supply of Arbitrage Founds -- Short-Term Capital Flows and the Public Interest -- Technical Note: Covered Interest Arbitrage -- Pt.6. Purchasing Power Parity -- The Law of One Prince and the Absolute Version of Purchasing Power Parity -- Relative Purchasing Power Parity and the "Real" Exchange Rate -- Some Bilateral Statistical Comparisons -- Multilateral Comparisons of Effective Exchange Rates and Prices -- Deviations from the Law of One Price under Fluctuating Exhange Rates -- Implications for Trader Hedging -- Per Capita Income Comparisons and Exchange-Rate Conversions -- Pt.7. Speculation -- Ch.1. Floating Exchange Rates among Convertible Currencies -- On Aggregating Open Positions over All Maturities -- The Demand for Stabilizing Speculation and the "J" Curve -- The Supply of Stabilizing Speculation -- Banking Risk versus Currency Risk -- Multinational Corporations and Other Nonspeculators -- Speculating without International Money -- Ch.2. Pegged Exchange Rates and Speculation against Central Banks -- Leads and Lags -- Changing the Currency of Invoice -- Official Speculation and Exchange Controls -- Pt.8. Fluctuating Exchange Rates, 1973-1978: A Qualified Monetary Interpretation -- Keynesian Liquidity Preference and the Rate of Interest In an Open Economy -- Foreign Exchange Dealers and the Domestic Money Market -- The Interest Elasticity of the Liquidity-Preference Function -- Exchange-Rate Fluctuations under Full Information -- Uncertain Expectations -- Optimum Currency Areas -- Intervention by Central Banks: A Concluding Note -- Pt.9. The Eurocurrency Market -- Regulatory Asymmetry: A Potted History -- The Mechanics of Transacting and the Scope of the Market -- Problems of Statistical Measurment: Some Conceptual Difficulties -- The Foreign Exchange Aspect: Covering and Interest Arbitrage -- Liquidity Creation and Domestic Financial Intermediation -- International Capital Transfers -- A Concluding Note on Regulation -- Pt.10. Monetary Unions and Fixed Exchange Rates -- Secular Growth in the Money Supply and the Prices of Tradable Goods -- Official Intervention and Nonsterilization -- The Symmetry Rule and the Aggregate Monetary Base -- On Flexing the System: Discounting and Short-Term -- Capital Flows -- Concluding Note -- Pt.11. America's Role in Stabilizing the World's Monetary System -- The Marshall Plan and the Remonetization of Western European Trade (1948-1959) -- Realization of the Bretton Woods Agreement and the Dollar-Gold Exchange Standard (1959-1968) -- Uncertainly Pegged Exchange Rates and the International Transmission of Inflation (1968-1973) -- Freely Floating Exchange Rates (1973-Present) International finance. http://id.loc.gov/authorities/subjects/sh85067405 Monetary unions. http://id.loc.gov/authorities/subjects/sh85086789 Foreign exchange rates. http://id.loc.gov/authorities/subjects/sh91004893 Foreign exchange. http://id.loc.gov/authorities/subjects/sh85050496 Finances internationales. Unions monétaires. Change. Taux de change. BUSINESS & ECONOMICS Foreign Exchange. bisacsh Système monétaire international. eclas Foreign exchange fast Foreign exchange rates fast International finance fast Monetary unions fast Internationales Währungssystem gnd http://d-nb.info/gnd/4072901-1 Wechselkurs gnd http://d-nb.info/gnd/4064921-0 Internationale financiën. gtt Monetaire samenwerking. gtt Wisselkoersen. gtt |
| subject_GND | http://id.loc.gov/authorities/subjects/sh85067405 http://id.loc.gov/authorities/subjects/sh85086789 http://id.loc.gov/authorities/subjects/sh91004893 http://id.loc.gov/authorities/subjects/sh85050496 http://d-nb.info/gnd/4072901-1 http://d-nb.info/gnd/4064921-0 |
| title | Money in international exchange : the convertible currency system / |
| title_auth | Money in international exchange : the convertible currency system / |
| title_exact_search | Money in international exchange : the convertible currency system / |
| title_full | Money in international exchange : the convertible currency system / Ronald I. McKinnon. |
| title_fullStr | Money in international exchange : the convertible currency system / Ronald I. McKinnon. |
| title_full_unstemmed | Money in international exchange : the convertible currency system / Ronald I. McKinnon. |
| title_short | Money in international exchange : |
| title_sort | money in international exchange the convertible currency system |
| title_sub | the convertible currency system / |
| topic | International finance. http://id.loc.gov/authorities/subjects/sh85067405 Monetary unions. http://id.loc.gov/authorities/subjects/sh85086789 Foreign exchange rates. http://id.loc.gov/authorities/subjects/sh91004893 Foreign exchange. http://id.loc.gov/authorities/subjects/sh85050496 Finances internationales. Unions monétaires. Change. Taux de change. BUSINESS & ECONOMICS Foreign Exchange. bisacsh Système monétaire international. eclas Foreign exchange fast Foreign exchange rates fast International finance fast Monetary unions fast Internationales Währungssystem gnd http://d-nb.info/gnd/4072901-1 Wechselkurs gnd http://d-nb.info/gnd/4064921-0 Internationale financiën. gtt Monetaire samenwerking. gtt Wisselkoersen. gtt |
| topic_facet | International finance. Monetary unions. Foreign exchange rates. Foreign exchange. Finances internationales. Unions monétaires. Change. Taux de change. BUSINESS & ECONOMICS Foreign Exchange. Système monétaire international. Foreign exchange Foreign exchange rates International finance Monetary unions Internationales Währungssystem Wechselkurs Internationale financiën. Monetaire samenwerking. Wisselkoersen. |
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| work_keys_str_mv | AT mckinnonronaldi moneyininternationalexchangetheconvertiblecurrencysystem |