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The world dollar standard is an accident of history that greatly facilitates international trade and exchange-even trade not directly involving the United States....

Book DescriptionThe increasingly integrated economies of East Asia -- China, Hong Kong, Indonesia, Japan, Korea, Malaysia, the Philippines, Singapore, Taiwan, and Thailand -- face the dilemma of how to achieve exchange-rate security in the absence of a unifying \"Asian euro....

\"This book boldly challenges some of the basic assumptions and presumptions of international economics, such as the trade balance-exchange rate relationship, and the endogeneity of exchange rate with respect to other macro variables. These views should generate some serious debates about our basic theories and policy frameworks....

Generalized financial volatility is capitalism\'s Achilles\' heel. And nowhere is the problem of controlling such volatility more acute than in monetary and exchange-rate relationships across countries - the central theme of this book....