ABSTRACT
International Macroeconomics: Theory and Policy offers phenomenal coverage across the entire subject of international macroeconoimics in an open economy context. The book has four objectives:
* to describe the evolution of and experiences with global exchange rate regimes
* to introduce the reader to a rigorous analysis of open economy models
* to apply the model framework to address key policy issues
* to review individual country experiences of macro policy
TABLE OF CONTENTS
part |2 pages
Part 1 Global exchange rate regimes
chapter |9 pages
The gold standard regime
chapter |14 pages
The International Monetary Fund system
chapter |8 pages
The float
chapter |12 pages
The European Monetary System
chapter |5 pages
The increased financial interdependence in the world economy
part |2 pages
Part II Open economy models - comparative statics analysis
chapter |20 pages
The Mundell-Fleming model
chapter |12 pages
The Mundell-Fleming model - its strengths and limitations
chapter |21 pages
The Mundell-Fleming model with wage and price adjustment
chapter |13 pages
Disequilibrium models of product and labour markets
chapter |11 pages
The portfolio balance model of the monetary sector
chapter |12 pages
The Mundell-Fleming model with wealth
chapter |8 pages
The classical elasticities approach to a devaluation
chapter |25 pages
A two-country Mundell-Fleming type model
chapter |6 pages
The two-country model with flexible wages and prices
chapter |5 pages
Econometric evidence - the large-country case
chapter |8 pages
A three-country model and the European Monetary System
part |2 pages
Part III Open economy models - dynamic analysis
chapter |7 pages
The dynamic adjustment to a fiscal deficit - a simple framework
chapter |10 pages
An extended Mundell-Fleming model with J curves
part |2 pages
Part IV New Classical themes
chapter |9 pages
Macro policy impotence and the New Classical paradigm
chapter |8 pages
The Ricardian equivalence hypothesis
part |2 pages
Part V A general framework
chapter |8 pages
Modelling goods and money markets
chapter |14 pages
Modelling production and labour markets
chapter |4 pages
Imposing medium- to long-run constraints on the model
part |2 pages
Part VI Models of exchange rates
chapter |10 pages
Modelling exchange rates (1)
chapter |8 pages
Modelling exchange rates (2)
part |2 pages
Part VII Policy design
chapter |23 pages
Macro policy targets
chapter |23 pages
Choosing the exchange rate regime
chapter |12 pages
Rules versus discretion
chapter |12 pages
Assignment rules for internal and external balance
chapter |14 pages
Theoretical evaluation of alternative simple policy regimes
chapter |8 pages
Econometric evaluation of policy regimes
chapter |6 pages
Issues raised by nominal income targeting
chapter |14 pages
Global macro performance - 1972-91
chapter |13 pages
The rise and fall of monetarism
chapter |13 pages
Unemployment performance and policy
chapter |18 pages
Macro policy coordination
part |2 pages
Part VIII Case studies of macro policy