This textbook provides an introductory description of the operation of an open economy, in which the exchange rate plays a significant role, as well as the mechanism for its determination, namely the foreign exchange market.
Equally important is the distinction between the spot and forward exchange rates, as well as their connection with the interest rate through covered and uncovered interest rate parity. The balance of payments and its two main approaches – Keynesian and monetary – are then analyzed, while the next part of the book focuses on the functioning of macroeconomic policy – both monetary and fiscal – in an open economy, under both fixed and floating exchange rate regimes.
As a result, the general equilibrium in an open economy is presented and, more specifically, the way total demand and supply determine the income level and the general price level, both in the short run and the long run. The final part of the book attempts a historical overview of international exchange rate systems and concludes with the theory of the optimal currency area and its application to the creation of the Eurozone.
Manufacturer
Specifications
- Publisher
- Gutenberg
- Language
- Greek
- Subtitle
- -
- Cover
- Soft
- Number of Pages
- 200
- Release Date
- 01/05/2026
- Publication Date
- 2026
- Dimensions
- -
- ISBN-13
- 9789600127768
Book Type
- Diversity, Equity & Inclusion (DEI)
- No
Important information
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