
| Chapter 1 The Balance of Payments 1.1 Accounting Principles 1.1.1 Debit and Credit 1.1.2 Double-Entry Accounting 1.2 Balance-of-Payments Structure 1.2.1 The Current Account 1.2.2 The Capital Account 1.2.3 The Financial Account 1.2.4 Statistical Discrepancy: Errors and Omissions 1.3 Classification of Transactions 1.4 Balance-of-Payments Equilibrium Summary Questions for Review Ptoblems and Applications References Chapter 2 Balance-of-Payments Adjustment and Determinants of the Balance of Trade and Payments 2.1 BOP Adjustments under Fixed Exchange Rates 2.1.1 Price Adjustments 2.1.2 Balance-of-Payments Adjustments 2.1.3 Interest-Rate Adjustments 2.1.4 Capital Flows and the Balance of Payments 2.1.5 Income Adjustments 2.1.6 Monetary Adjustments 2.2 Determinants of Balance of Trade and Payments 2.2.1 Elasticities Approach to Exchange-Rate Adjustment 2.2.2 Absorption Approach to Exchange-Rate Adjustment 2.2.3 Monetary Approach to the Balance of Payments Summary Questions for Review Ptoblems and Applications References Chater 3 International Monetary System 3.1 The Gold Standard Era, 1870-1914 3.1.1 Origins of the Gold Standard 3.1.2 The Gold Standard Rules 3.1.3 The Automatic Adjustment Mechanism under the Gold Standard 3.2 The Inter-War Period, 1919-1939 3.3 The Bretton Woods Period, 1946 -1971 3.3.1 Goals and Structure of the IMF 3.3.2 Operation of the Bretton Woods System 3.3.3 Evolution of the Bretton Woods System 3.3.4 Collapse of the Bretton Woods System 3.4 The Floating Rate Period, 1971 to Ptesent 3.5 Optimum Currency Areas and the EMS 3.6 The Euro Summary Questions for Review Problems and Applications References Chapter 4 Exchange-Rate Systems 4.1 Foreign Exchange-Rate Practices 4.2 Fixed Exchange-Rate System 4.2.1 Advantages of a Fixed Exchange-Rate System 4.2.2 Disadvantages of a Fixed Exchange-Rate System 4.2.3 Exchange-Rate Stabilization 4.3 Flexible Exchange-Rate System 4.3.1 Achieving Market Equilibrium 4.3.2 Advantages of a Floating Exchange-Rate System 4.3.3 Disadvantages of a Floating Exchange-Rate System …… Chapter 5 Foreign-Exchange Market and Financial Derivatives Chapter 6 Exchange Rates,Interest Rates,and Interest Parity Chapter 7 Foreign-Exchange Risk and Forecasting Chapter 10 Financial Management of the Multinational Enterprises Chapter 11 International Banking:Reserves,Debt,and Risk Chapter 12 Macroecononuc Policy in the Open Economy |
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