© 1987

Monetary and Exchange Rate Policy

  • Donald R. Hodgman
  • Geoffrey E. Wood

Part of the Studies in Banking and International Finance book series (SBIF)

Table of contents

  1. Front Matter
    Pages i-xv
  2. Giorgio Basevi, Daniela Cocchi, Pier Luigi Lischi
    Pages 1-48
  3. Florin Aftalion
    Pages 49-68
  4. John T. Woolley
    Pages 69-98
  5. Donald R. Hodgman, Robert W. Resek
    Pages 136-165
  6. Forrest H. Capie, Geoffrey E. Wood
    Pages 166-192
  7. Back Matter
    Pages 221-223

About this book


Monetary and exchange rate policies of national monetary authorities, together with certain of their consequences, provide the common theme for the studies in this volume. Four of the contributions are mainly concerned with exchange rate policy-decisions to alter fixed parities, intervention by central banks in foreign exchange markets, and the determinants of exchange rates including intervention and the degree of capital mobility. Two studies are oriented to aspects of domestic monetary policy, one examining policy reactions of French monetary authorities, the other concerning the choice of monetary aggregate target as a politically motivated strategy to assign responsibility for macroeconomic outcomes and thus influence the behaviour of decision makers in the macroeconomic policy making process. One contribution investigates the factors that influence the choice of currency in foreign trade, an important factor in determining the importance for exchange market stability of capital movements, and perhaps official intervention. The studies present significant theoretical and empirical results as well as the institutional material.


economic policy macroeconomics monetary policy

Editors and affiliations

  • Donald R. Hodgman
    • 1
  • Geoffrey E. Wood
    • 2
  1. 1.University of IllinoisUSA
  2. 2.Centre for Banking and International FinanceThe City University Business SchoolUK

Bibliographic information