Incluye bibliografías e índice.

v.1. Introduction -- Part I. The case for flexible exchange rates / Groundwork Milton Friedman ; 2. Capital mobility and stabilization policy under fixed and flexible exchange rates / R.A. Mundell ; 3. Empirical regularities in the behavior of exchange rates and theories of the foreign exchange market / Michael Mussa ; 4. Flexible exchange rates, prices, and the role of "news": lesson from the 1970s / Jacob A. Frenkel -- Part II: Theories: 5. A monetary approach to the exchange rate: doctrinal aspects and empircial evidence / Jacob A. Frenkel ; 6. The exchange rate, the balance of payments in the short run and in the long run: a monetary approach / Michael Mussa ; 7. The exchange rate and the balance of payments and monetary and fiscal policy undera regime of controlled floating / Pentti J.K. Kouri ; 8. Expectations and exchange rate dynamics / Rudiger Dornbusch ; 9. Monetary policy and international competiveness: the problems of adjustment / Willem H. Buiter and M. Miller ; 10. A Model of exchange rate determination under currency substitution and rational expectations / Guillermo A. Calvo and C.A. Rodriguez ; 11. Asset markets and relative prices in exchange rate determination / W.H. Branson ; 12. Exchange rates and the current account / Rudiger Dornbusch and Stanley Fischer ; 13. An empirical analysis of the monetary approach to the determination of the exchange Rate / R.J. Hodrick -- Part III: Evidence. 14. Rational expectations and monetary models of exchange rate determination: an empirical examination / D.L Hoffman and D.E. Schlagenhauf ; 15. On the mark: a theory of floating exchange rates based on real interest Differentials / J.A. Frankel ; 16. Fluctuations in the dollar: a model of nominal and real exchange rate determination / P. Hooper and J. Morton ; 17. A portfolio-balance rational-expectations model of the dollar-mark exchange rate / M. Dooley and P. Isard ; 18. Exchange rates and monetary policy: modelling sterling's effective exchange rate / G. Hacche and J. Townend ; 19. Tests of monetary and portfolio balance models of exchange rate determination / J.A. Frankel ; 20. Empirical exchange rate models of the seventies: do they fit out of sample? / R.A. Meese and K. Rogoff ; 21. The monetary approach to exchange rate determination under rational expectations / W.T. Woo ; 22. Forecasting the exchange rate: a monetary or random walk phenomenon? / M.G. Finn -- Part IV: New Directions: 23. Exchange rate economics: 1986 / R. Dornbusch ; 24. Understanding the US dollar in the eighties: the expectations of chartists and fundamentalists / J.A. Frankel and K.A. Froot ; 25. Charts, noise and fundamentals in the London foreign exchange market / H. Allen and M.P. Taylor ; 26. Country preferences, currency values and policy issues / M.P. Dooley and P. Isard. – v.2. Part I. Expectations and market efficiency: 1. Analysis of short-run exchange rate behavior: march 1973 to november 1981 / Michael P. Dooley and J.R. Shafer ; 2. The "specualative efficiency" hypothesis / J.F.O. Bilson ; 3. Forward exchange rates as optimal predictors of future spot rates: an econometric analysis / . L.P. Hansen and R.J. Hodrick ; 4. Expectations and the forward exchange rate / C.S. Hakkio ; 5. Testing for bubbles in exchange markets: a case of sparkling rates? / R.A. Meese ; 6. Using survey data to test standard propositions regarding exchange rate expectations / J.A. Frankel and K.A. Froot ; 7. Expectations formations and risk in four foreign exchange markets / R. MacDonald and T.S. Torrance -- Part II. Rationalizing the rejection of the simple efficiency hypothesis: 8. Forward and spot exchange rates / E.F. Fama ; 9. In search of the exchange risk premium: a six-currency test assuming mean-variance optimization / J.A. Frankel ; 10. Conditional variance and the risk premium in the foreign exchange market / . I. Domowitz and C.S. Hakkio ; 11. The "peso problem" in testing the efficiency of forward exchange markets / W.S. Krasker ; 12. A test for speculative bubbles in the sterling-dollar exchange rate: 1981-4 / G.W. Evans -- Part III. 'News' and the exchange rate: 13. Exchange rates and "news": a multi-currency Approach / S. Edwards ; 14. Exchange rate variability and monetary policy under rational expectations: some Euro-American experience 1973-1979 / E.J. Bomhoff and P. Korteweg ; 15. Oil news and the petropound: some tests / L.S. Copeland ; 16. News and the 1920's experience with floating exchange rates / R. MacDonald -- Part IV: International parity conditions: 17. Purchasing power parity: doctrinal perspective and evidence from the 1920s / J.A. Frenkel ; 18. Deviations from purchasing power parity in the long run / m. adler and b. lehmann ; 19. Violations of purchasing power parity and their implications for efficient international commodity markets / R. Roll ; 20. Long-run purchasing power parity in the 1920s / M.P. Taylor and P.C. McMahon ; 21. Covered interest arbitrage: unexploited profits? / J.A. Frenkel and R.M. Levich ; 22. Transaction costs and interest arbitrage: tranquil versus turbulent periods / J.A. Frenkel and R.M. Levich ; 23. Covered interest arbitrage and market tuburlence / M.P. Taylor ; 24. Capital controls, political risk, and deviations from interest-rate parity / M.P. Dooley and P. Isard ; 25. Political vs. currency premia in international real interest differentials: a study of forword rates for 24 countries / J.A. Frankel and A.T. MacArthur ; 26. A note on exchange-rate expectations and nominal interest differentials: a test of the fisher hypothesis / R.E. Cumby and M. Obstfield.