ContentsAbout the editors viiList of contributors viiiIntroduction to Central Banking, Monetary Policy, and ExchangeRates 1Lilian Rolim, Nathalie Marins, and Sylvio KappesPART I THEORY AND ACCOUNTING1 An accounting framework for understanding exchange rates 6John T. Harvey2 Exogenous interest rate and interest rate parity theorems: thepost-Keynesian debate and a proposed alternative 23Ricardo Summa and Nathalie Marins3 Financialization of the exchange rate: conceptualdelimitations and description of the Brazilian case 46Pedro Rossi and Ana Carolina NicacioPART II INSTRUMENTS4 A balance sheet approach to international trade and capitalflows 65Sylvio Antonio Kappes5 Repo market and primary dealers: derisking in the BrazilianCentral Bank's liquidity management 80Cyro Faccin, Daphnae Helena Picoli, and Bruno De Conti6 Central banking in subordinate financialized capitalism 101Annina Kaltenbrunner and Juan Pablo PainceiraPART III MACROECONOMIC IMPLICATIONS7 Endogenous productivity regime and the impact of acompetitive real exchange rate on economic growth 122Hugo Iasco-Pereira and Fabrício Missio8 Exchange rates and conflict inflation theory 147Guilherme Spinato Morlin.