The global marketplace is thriving; trillions of dollars trade hands each business day. And yet the way money works is shrouded in mystery for the majority of us. Who controls money? What governs the way money is handled? In the 1950s, the nature of international banking changed through the creation of the Euromarket. The Power of Money tells the story of this development from the Bretton Woods system to the floating rates of the Euromarket....
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The book investigates issues of policy design in open economies. The performance of simple alternative policy rules is analysed in the context of theoretical models using both analytical solutions and...
Contains a statement of balance-of-payments accounting, and a critical appraisal of balance-of-payments adjustment theory. The book also features chapters on the capital account of balance-of-payments...