Money In An Open Economy
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Author | : Francisco L. Rivera-Batiz |
Publisher | : Prentice Hall |
Total Pages | : 728 |
Release | : 1994 |
Genre | : Business & Economics |
ISBN | : |
Offers the remarkable deregulation and internationalization of banking and finance in the 1980s and 1990s. Discusses the growing importance of Japanese finance, the economics of the European integration of 1992, and analysis of exchange rate regimes in developing countries.
Author | : Carlos A. Vegh |
Publisher | : MIT Press |
Total Pages | : 911 |
Release | : 2013-08-30 |
Genre | : Business & Economics |
ISBN | : 026201890X |
A comprehensive and rigorous text that shows how a basic open economy model can be extended to answer important macroeconomic questions that arise in emerging markets. This rigorous and comprehensive textbook develops a basic small open economy model and shows how it can be extended to answer many important macroeconomic questions that arise in emerging markets and developing economies, particularly those regarding monetary, fiscal, and exchange rate issues. Eschewing the complex calibrated models on which the field of international finance increasingly relies, the book teaches the reader how to think in terms of simple models and grasp the fundamentals of open economy macroeconomics. After analyzing the standard intertemporal small open economy model, the book introduces frictions such as imperfect capital markets, intertemporal distortions, and nontradable goods, into the basic model in order to shed light on the economy's response to different shocks. The book then introduces money into the model to analyze the real effects of monetary and exchange rate policy. It then applies these theoretical tools to a variety of important macroeconomic issues relevant to developing countries (and, in a world of continuing financial crisis, to industrial countries as well), including the use of a nominal interest rate as a main policy instrument, the relative merits of flexible and predetermined exchange rate regimes, and the targeting of “real anchors.” Finally, the book analyzes in detail specific topics such as inflation stabilization, “dollarization,” balance of payments crises, and, inspired by recent events, financial crises. Each chapter includes boxes with relevant empirical evidence and ends with exercises. The book is suitable for use in graduate courses in development economics, international finance, and macroeconomics.
Author | : Rudiger Dornbusch |
Publisher | : New York : Basic Books |
Total Pages | : 312 |
Release | : 1980 |
Genre | : Business & Economics |
ISBN | : |
Employment, the trade balance and relative prices; Money and payments adjustment; Assets markets, capital mobility, and stabilization policy; Portfolio balance and the current account.
Author | : Carlos A. Vegh |
Publisher | : MIT Press |
Total Pages | : 911 |
Release | : 2013-08-30 |
Genre | : Business & Economics |
ISBN | : 0262316900 |
A comprehensive and rigorous text that shows how a basic open economy model can be extended to answer important macroeconomic questions that arise in emerging markets. This rigorous and comprehensive textbook develops a basic small open economy model and shows how it can be extended to answer many important macroeconomic questions that arise in emerging markets and developing economies, particularly those regarding monetary, fiscal, and exchange rate issues. Eschewing the complex calibrated models on which the field of international finance increasingly relies, the book teaches the reader how to think in terms of simple models and grasp the fundamentals of open economy macroeconomics. After analyzing the standard intertemporal small open economy model, the book introduces frictions such as imperfect capital markets, intertemporal distortions, and nontradable goods, into the basic model in order to shed light on the economy's response to different shocks. The book then introduces money into the model to analyze the real effects of monetary and exchange rate policy. It then applies these theoretical tools to a variety of important macroeconomic issues relevant to developing countries (and, in a world of continuing financial crisis, to industrial countries as well), including the use of a nominal interest rate as a main policy instrument, the relative merits of flexible and predetermined exchange rate regimes, and the targeting of “real anchors.” Finally, the book analyzes in detail specific topics such as inflation stabilization, “dollarization,” balance of payments crises, and, inspired by recent events, financial crises. Each chapter includes boxes with relevant empirical evidence and ends with exercises. The book is suitable for use in graduate courses in development economics, international finance, and macroeconomics.
Author | : M.L. Burnstein |
Publisher | : Springer |
Total Pages | : 311 |
Release | : 1989-06-18 |
Genre | : Business & Economics |
ISBN | : 1349109630 |
The financial markets have turned open-economy monetary economics on its head. This book explains the implications of these developments for theory and policy in the practices of the 1980s and 1990s, aiming to escape from the Keynsesian modes of thought and expression.
Author | : Giancarlo Gandolfo |
Publisher | : Springer Science & Business Media |
Total Pages | : 646 |
Release | : 2002-06-26 |
Genre | : Business & Economics |
ISBN | : 9783540434597 |
"This book deals with the financial side of international economics and covers all aspects of international finance. There are many books and articles by exponents of alternative points of view. I know of no other book that provides the scope, balance, objectivity and rigor of the book." (Professor Jerome L. Stein, Brown University) From the reviews: "In this survey of international finance and open-economy macroeconomics, Gandolfo succeeds in meeting the needs of advanced undergraduate or lower-level graduate students through a largely textual and graphical approach, while at the same time presenting in the appendices explicit mathematical analyses for more advanced graduate students." (Journal of Banking & Finance 2004)
Author | : Ronald Shone |
Publisher | : |
Total Pages | : 474 |
Release | : 1989 |
Genre | : Business & Economics |
ISBN | : |
Author | : Apostolos Serletis |
Publisher | : World Scientific |
Total Pages | : 352 |
Release | : 2006 |
Genre | : Business & Economics |
ISBN | : 9812568182 |
This book provides a comprehensive and systematic introduction to the problem of the definition of money and investigates the gains that can be achieved by a rigorous use of microeconomic- and aggregation-theoretic foundations in the construction of monetary aggregates. It provides readers with key aspects of monetary economics and macroeconomics, including monetary aggregation, demand systems, flexible functional forms, long-run monetary neutrality, the welfare cost of inflation, and nonlinear chaotic dynamics.This book offers the following conclusions: the simple-sum approach to monetary aggregation and log-linear money demand functions, currently used by central banks, are inappropriate for monetary policy purposes; the choice of monetary aggregation procedure is crucial in evaluating the welfare cost of inflation; the inter-related problems of monetary aggregation and money demand will be successfully investigated in the context of flexible functional forms that satisfy theoretical regularity globally, pointing the way forward to useful and productive research.
Author | : Rosalind Levačić |
Publisher | : |
Total Pages | : 455 |
Release | : 1982 |
Genre | : Keynesian economics |
ISBN | : 9780333341445 |
Author | : Hendrik Van Den Berg |
Publisher | : World Scientific Publishing Company |
Total Pages | : 987 |
Release | : 2016-02-22 |
Genre | : Business & Economics |
ISBN | : 9814651184 |
International Finance and Open-Economy Macroeconomics provides a complete theoretical, historical, and policy-focused account of the international financial system that covers all of the standard topics, such as foreign exchange markets, balance of payments accounting, macroeconomic policy in an open economy, exchange rate crises, multinational enterprises, and international financial markets. The book uses the 1944 Bretton Woods Conference as a unifying theme to relate the many controversial issue. It is written in a lively manner to bring real world events into the discussion of all of the concepts, topics, and policy issues. There is also emphasis on the history of economic thought in order to explain how economists in different time periods dealt with international financial issues.