国际货币与金融经济学英文版教材全套课件.pptx

Chapter 1Keeping Up with a Changing World;2;3;4;5;6;7;8;9;10;11;12;13;14;15;16;17;18;19;20;21;22;23;24;25;26;27;28;29;30;31;32;33;34;35;36;37;Chapter 2The Market for Foreign Exchange;The Foreign Exchange Market;Spot Market Characteristics;A Foreign Exchange Transaction ;Currency Trading Tables;Some Additional Terminology:Direct - Indirect Quotes;Appreciating and Depreciating Currencies;Appreciating and Depreciating Currencies;Cross-Rates: Unobserved Rates;Bid - Ask Spreads;Bid - Ask Spread and Margin;Real Exchange RatesReal Measures;Real Exchange Rates;Real Exchange RatesAn Example;Example: Continued;Combining the Two Effects;Combining the Two Effects;Conclusion;Effective Exchange Rates;Weighted Average Value;Weights;Exchange Rate Data;Calculating the EER;Calculating the EER;Example;Example;Effective Exchange Measures;Effective Exchange RatesJapan, United Kingdom, United States;Arbitrage:Consistency of Cross Rates;Spatial Arbitrage;Triangular Arbitrage;Triangular Arbitrage: Example;Example Continued;Triangular Arbitrage;The Demand for a Currency;The Demand Curve is Downward Sloping;The Demand Curve;Important Note;An Increase in Demand;An Increase in the Demand for the Euro;The Supply of a Currency;The Supply of the Euro;An Increase in the Supply of the Euro;Equilibrium;Market Equilibrium;Increase in the Demand for the Euro;Central Bank Intervention;FX Intervention - Continued;FX Intervention - Continued;Buying and Selling Foreign Reserves;FX Intervention;FX Intervention - Conclusion;Over and Under-Valued Currencies;Undervalued;Purchasing Power ParityAbsolute or the Law of One Price;Absolute PPP;Relative PPP;Exchange Rate Systems;Concepts;The Gold Standard;The Gold Standard;Gold Standard and Exchange Values;Gold Standard: Costs and Benefits;The Bretton Woods Agreement;The International Monetary Fund;The Bretton Woods System;Changes in Parity Rates;Collapse of Bretton Woods System;Smithsonian Agreement;Economic Summits;Jamaica Accords;Summits “Insti