How successful is PPP, and its extension in the monetary model, as a measure of the equilibrium exchange rate? What are the determinants and dynamics of equilibrium real exchange rates? How can misalignments be measured, and what are their causes? What are the effects of specific policies upon the equilibrium exchange rate? The answers to these questions are important to academic theorists, policymakers, international bankers and investment fund managers. This volume encompasses all of the competing views of equilibrium exchange rate determination, from PPP, through other reduced form models, to the macroeconomic balance approach. This volume is essentially empirical: what do we know about exchange rates? The different econometric and theoretical approaches taken by the various authors in this volume lead to mutually consistent conclusions. This consistency gives us confidence that significant progress has been made in understanding what are the fundamental determinants of exchange rates and what are the forces operating to bring them back in line with the fundamentals.

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While many worry about population overload, this book highlights the dramatic fall in fertility rates globally exploring questions such as why are parents having fewer babies? Will this lead to population decline? What will be the impact of a world with fewer children and can social policy reverse fertility decline?

This book looks at the PPP persistence puzzle, and econometric aspects of exchange rate dynamics and their implications. It also explores the importance of exchange rate dynamics in the pass-through effects (PTE) and the econometric aspects of the exchange rates dynamics linked to structural shocks on different economies.

A conference on Metallurgical Effects at High Strain Rates was held at Albuquerque, New Mexico, February 5 through 8, 1973, under joint sponsorship of Sandia Laboratories and the Physical Metallurgy Committee of The Metallurgical Society of AIME. This book presents the written proceedings of the meeting. The purpose of the conference was to gather scientists from diverse disciplines and stimulate interdisciplinary discussions on key areas of materials response at high strain rates. In this spirit, it was similar to one of the first highly successful con­ ferences on this subject held in 1960, in Estes Park, Colorado, on The Response of Metals to High Velocity Deformation. The 1973 conference was able to demonstrate rather directly the increased understanding of high strain rate effects in metals that has evolved over a period of roughly 12 years. In keeping with the interdisciplinary nature of the meeting, the first day was devoted to a tutorial session of invited papers to provide attendees of diverse backgrounds with a common basis of understanding. Sessions were then held with themes centered around key areas of the high strain rate behavior of metals.

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