This book provides a good basis for a graduate course in international finance. It also serves as a reference source for professional economists. Though other good surveys and handbooks are available, they are too extensive to serve as a graduate textbook. In many cases they are outdated, as there has been an explosion of work on the issues over the last decade, stimulated by events such as the Asian crises of 1997 and 1998, the creation of the Euro zone in 1999, and Argentina�s 2001 default. This book covers up-to-date developments on these issues.

Contents:

• Currency Crisis Models:
• The First Generation
• Second Generation Currency Crisis Models
• Currency Crises and Contagion in Asia
• International Economic Policy Coordination:
• Is Policy Coordination Desirable?
• Sustaining Coordination
• Common Currency Areas:
• Monetary Integration
• Monetary Union with an Independent Central Bank
• Sovereign Debt:
• Why do Sovereigns Repay Their Debts?
• Uncertainty and Credit Rationing
• Conclusion: Challenges to the International Monetary System and Prospects for Reform

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