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International Finance and Financial Crises: Essays in Honor of Robert P. Flood, Jr. contains the proceedings of a conference held in honor of Robert P. Flood, Jr. Bob Flood has made important contributions to many areas of economic analysis, including regime switching, speculative attacks, bubbles, stock market volatility, macro models with nominal rigidities, dual exchange rates, target zones, and rules versus discretion in monetary policy. Contributors were invited to address any of the topics or others of their choosing. The results include five papers on topics in international finance; two of these papers, as well as the panel discussion, focus on speculative attacks and financial crises. The other three take new directions in exploring topics in which existing models leave much to be desired.
List of contents
1. Some Parallels Between Currency and Banking Crises.- Comments.- General Discussion.- 2. Balance Sheets, the Transfer Problem, and Financial Crises.- Comments.- General Discussion.- 3. Financial Crises: What Have We Learned from Theory and Experience?.- Summary of Panel Remarks.- Remarks.- 4. On the Foreign Exchange Risk Premium in Sticky-Price General Equilibrium Models.- Comments.- General Discussion.- 5. An Information-Based Model of Foreign Direct Investment: The Gains from Trade Revisited.- Comment.- General Discussion.- 6. An International Dynamic Asset Pricing Model.- Comments.- General Discussion.- 7. Role of the Minimal State Variable Criterion in Rational Expectations Models.- Comment.- General Discussion.- 8. Exact Utilities under Alternative Monetary Policy Rules in a Simple Macro Model with Optimizing Agents.- Simple Monetary Policy Rules Under Model Uncertainty.- Comments.- General Discussion.- Appendix. Robert R Flood, Jr. - Bibliography.
About the author
Peter Isard is Assistant Director in the Research Department of the International Monetary Fund, where he has worked since 1985. From 1972 through 1985 Dr Isard held research and managerial positions in the International Finance Division of the Federal Reserve Board. He has published numerous articles on the behavior of exchange rates, strategies for monetary policy, and directions for reforming the international financial system. His book Exchange Rate Economics (Cambridge University Press, 1995) has been widely acclaimed.
Summary
International Finance and Financial Crises: Essays in Honor of Robert P. Flood, Jr. contains the proceedings of a conference held in honor of Robert P. Flood, Jr. Bob Flood has made important contributions to many areas of economic analysis, including regime switching, speculative attacks, bubbles, stock market volatility, macro models with nominal rigidities, dual exchange rates, target zones, and rules versus discretion in monetary policy. Contributors were invited to address any of the topics or others of their choosing. The results include five papers on topics in international finance; two of these papers, as well as the panel discussion, focus on speculative attacks and financial crises. The other three take new directions in exploring topics in which existing models leave much to be desired.
