The period since the Second World war has been an eventful and often disturbing one in the international monetary field. Economic theories have been propounded and modified both to explain these events and to influence future choices made by economic actors....

This book provides an alternative view of the workings of foreign exchange markets. The authors\' modeling approach is based on the idea that agents use simple forecasting rules and switch to those rules that have been shown to be the most profitable in the past....

?The selection of readings prepared by Paul De Grauwe - himself an important contributor to the theory of monetary union - is a most timely and useful tool for teachers and students. It will serve as a natural complement to De Grauwe?s textbookon The Economics of Monetary Union.?...

Almost a year after the European Central Bank (ECB) officially \"opened for business,\" this second major report in the Monitoring European Central Bank series provides a detailed analysis of the ECB\'s actions and alerts the public to the main issues raised by the policies pursued by the ECB during its first year....