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Monetary History, Exchange Rates and Financial Markets

Essays in Honour of Charles Goodhart, Volume Two Edited by Paul Mizen, Professor of Monetary Economics, School of Economics, University of Nottingham, UK
Monetary History, Exchange Rates and Financial Markets is an impressive collection of original papers in honour of Charles Goodhart’s outstanding contribution to monetary economics and policy.

Charles Goodhart has written extensively on many of these topics and has become synonymous with his field; the chapters within this book offer a summary of current thinking on his own research subjects and include perspectives on controversies surrounding them.
Extent: 296 pp
Hardback Price: $136.00 Web: $122.40
Publication Date: 2003
ISBN: 978 1 84376 086 3
Availability: In Stock
Paperback Price: $79.00 Web: $63.20
Publication Date: 2004
ISBN: 978 1 84376 842 5
Availability: In Stock
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  • Economics and Finance
  • Economic History
  • Money and Banking
Commenting on the quality of the contributors when opening the conference on which these books are based, the former Governor of the Bank of England, Sir Edward George, said ‘I cannot remember ever before having had such a galaxy of academic economist and central banking superstars gathered together under one roof!’’

Monetary History, Exchange Rates and Financial Markets is an impressive collection of original papers in honour of Charles Goodhart’s outstanding contribution to monetary economics and policy. Its contributors – eminent international academics, central bankers and financial market regulators – provide an insight into an extensive set of issues including:

• the role of the history of economic thought in modern macroeconomics
• Charles Goodhart’s contribution to British monetary history
• lessons from the history of financial crises
• customer trades and extreme events in foreign exchange markets
• trading activity, volatility and liquidity in foreign exchange markets
• competition, stability and financial regulation.

Charles Goodhart has written extensively on many of these topics and has become synonymous with his field; the chapters within this book offer a summary of current thinking on his own research subjects and include perspectives on controversies surrounding them.

Integrating clarity of economic thinking with the practicalities of policy, this arresting book will be invaluable to economists, central bankers and students of monetary economics.

The companion volume examines central banking, monetary theory and practice.
‘In sum, the books thoroughly and practically address central banking and monetary policy issues which are clearly and superbly exposed by academic, economist and central banking superstars. . . both volumes are certainly recommended.’
– Gabriel Gómez Giglio, Journal of International Banking Law

‘The editor has succeeded nicely in the difficult task of organizing the festschrift in a constructive way. The selection of commentators contributes to that . . . All in all, I expect this festschrift to have a half-life much longer than the average one. It deserves it.’
– Lars Jonung, EH.Net
Contributors: M. Artis, M.D. Bordo, F. Capie, E. Carletti, A. Crockett, B. Eichengreen, M. Fan, M. Foot, C. Goodhart, P. Hartmann, T. Ito, D. Laidler, R.K. Lyons, J. Melitz, M. Miller, R.G. Payne, D. Schoenmaker, A.J. Schwartz, A. Sheng, G.L. Tan, M.P. Taylor, J. Viñals
Contents: Preface Introduction 1. The Role of the History of Economic Thought in Modern Macroeconomics 2. Charles Goodhart’s Contributions to the History of Monetary Institutions 3. Crises Now and Then: What Lessons from the Last Era of Financial Globalization? 4. Exchange Rate Regimes in Theory and Practice 5. Is Foreign Exchange Intervention Effective?: The Japanese Experiences in the 1990s 6. Customer Trades and Extreme Events in Foreign Exchange 7. Trading Activity, Volatility and Transactions Costs in Spot FX Markets 8. Competition and Stability: What’s Special About Banking? 9. Is There a Goodhart’s Law in Financial Regulation? 10. Working with Market Forces Some Concluding Comments Index