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Author : Ken'ichi Ōno
Publisher :
ISBN 13 :
Total Pages : 292 pages
Book Rating : 4.F/5 ( download)
Download or read book The Exchange Rate and Prices in Financially Open Economies written by Ken'ichi Ōno and published by . This book was released on 1987 with total page 292 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Laurence S. Copeland
Publisher : Financial Times/Prentice Hall
ISBN 13 :
Total Pages : 516 pages
Book Rating : 4.:/5 (321 download)
Download or read book Exchange Rates and International Finance written by Laurence S. Copeland and published by Financial Times/Prentice Hall. This book was released on 2000 with total page 516 pages. Available in PDF, EPUB and Kindle. Book excerpt: Exchange Rates and International Finance looks at exchange rates and their fluctuation, change and effect. Topics covered include prices in the open economy, flexible prices and market efficiency.
Author : Giancarlo Gandolfo
Publisher : Springer Science & Business Media
ISBN 13 : 9783540434597
Total Pages : 646 pages
Book Rating : 4.4/5 (345 download)
Download or read book International Finance and Open-Economy Macroeconomics written by Giancarlo Gandolfo and published by Springer Science & Business Media. This book was released on 2002-06-26 with total page 646 pages. Available in PDF, EPUB and Kindle. Book excerpt: "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 : Peijie Wang
Publisher : Springer Science & Business Media
ISBN 13 : 3540285245
Total Pages : 354 pages
Book Rating : 4.5/5 (42 download)
Download or read book The Economics of Foreign Exchange and Global Finance written by Peijie Wang and published by Springer Science & Business Media. This book was released on 2005-11-21 with total page 354 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book presents all major subjects in international monetary theory, foreign exchange markets, international financial management and investment analysis. The book is relevant to real world problems in the sense that it provides guidance on how to solve policy issues as well as practical management tasks. This in turn helps the reader to gain an understanding of the theory and refines the framework. Various topics are interlinked so the book adopts a systematic treatment of integrated materials relating different theories under various circumstances and combining theory with practice. The text examines issues in international monetary policy and financial management in a practical way, focusing on the identification of the factors and players in foreign exchange markets and the international finance arena. The book can be used in graduate and advanced undergraduate programmes in international or global finance, international monetary economics, and international financial management.
Author : Jeffry A. Frieden
Publisher : Princeton University Press
ISBN 13 : 1400865344
Total Pages : 318 pages
Book Rating : 4.4/5 (8 download)
Download or read book Currency Politics written by Jeffry A. Frieden and published by Princeton University Press. This book was released on 2014-12-28 with total page 318 pages. Available in PDF, EPUB and Kindle. Book excerpt: The politics surrounding exchange rate policies in the global economy The exchange rate is the most important price in any economy, since it affects all other prices. Exchange rates are set, either directly or indirectly, by government policy. Exchange rates are also central to the global economy, for they profoundly influence all international economic activity. Despite the critical role of exchange rate policy, there are few definitive explanations of why governments choose the currency policies they do. Filled with in-depth cases and examples, Currency Politics presents a comprehensive analysis of the politics surrounding exchange rates. Identifying the motivations for currency policy preferences on the part of industries seeking to influence politicians, Jeffry Frieden shows how each industry's characteristics—including its exposure to currency risk and the price effects of exchange rate movements—determine those preferences. Frieden evaluates the accuracy of his theoretical arguments in a variety of historical and geographical settings: he looks at the politics of the gold standard, particularly in the United States, and he examines the political economy of European monetary integration. He also analyzes the politics of Latin American currency policy over the past forty years, and focuses on the daunting currency crises that have frequently debilitated Latin American nations, including Mexico, Argentina, and Brazil. With an ambitious mix of narrative and statistical investigation, Currency Politics clarifies the political and economic determinants of exchange rate policies.
Author : Martin Weale
Publisher : Routledge
ISBN 13 : 131737942X
Total Pages : 348 pages
Book Rating : 4.3/5 (173 download)
Download or read book Macroeconomic Policy written by Martin Weale and published by Routledge. This book was released on 2015-10-05 with total page 348 pages. Available in PDF, EPUB and Kindle. Book excerpt: This analysis of macroeconomic policy, originally published in 1989, argues that key government objectives, such as reduced inflation, decreased unemployment and an adequate level of national saving can be achieved only by employing both monetary and fiscal policies, in conjunction with supply-side policies expressly designed to improve the workings of the labour market. Part 1 is a comparative analysis showing the effects of monetary and fiscal policy on the economy. Real-wage rigidity in the labour market is shown to have important consequences for the working of both types of policy, because it conditions the economy’s response to tax changes. Part 2 presents an econometric model which combines consistent stock-flow accounts with a full range of expectational effects. Part 3 presents an innovative technique for solving rational expectations models with the need for arbitary terminal conditions.
Author : Hendrik Van Den Berg
Publisher : World Scientific Publishing Company
ISBN 13 : 9814651184
Total Pages : 987 pages
Book Rating : 4.8/5 (146 download)
Download or read book International Finance And Open-economy Macroeconomics: Theory, History, And Policy (2nd Edition) written by Hendrik Van Den Berg and published by World Scientific Publishing Company. This book was released on 2016-02-22 with total page 987 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Author : Asbjørn Rødseth
Publisher : Cambridge University Press
ISBN 13 : 9780521788748
Total Pages : 404 pages
Book Rating : 4.7/5 (887 download)
Download or read book Open Economy Macroeconomics written by Asbjørn Rødseth and published by Cambridge University Press. This book was released on 2000-09-14 with total page 404 pages. Available in PDF, EPUB and Kindle. Book excerpt: Advanced textbook offering a broad survey of open economy macroeconomics within a unified framework. Rødseth reviews the theories used in government departments, central banks and financial institutions and that form the basis for most quantitative models of open economies. The resulting policy implications are also considered with reference to current European debate. In addition to the theoretical and policy analysis the book also contains a comprehensive survey of the current state of scholarship in this area.
Author : Carlos A. Vegh
Publisher : MIT Press
ISBN 13 : 0262316900
Total Pages : 911 pages
Book Rating : 4.2/5 (623 download)
Download or read book Open Economy Macroeconomics in Developing Countries written by Carlos A. Vegh and published by MIT Press. This book was released on 2013-08-30 with total page 911 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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 : Martín Uribe
Publisher : Princeton University Press
ISBN 13 : 0691158770
Total Pages : 646 pages
Book Rating : 4.6/5 (911 download)
Download or read book Open Economy Macroeconomics written by Martín Uribe and published by Princeton University Press. This book was released on 2017-04-04 with total page 646 pages. Available in PDF, EPUB and Kindle. Book excerpt: A cutting-edge graduate-level textbook on the macroeconomics of international trade Combining theoretical models and data in ways unimaginable just a few years ago, open economy macroeconomics has experienced enormous growth over the past several decades. This rigorous and self-contained textbook brings graduate students, scholars, and policymakers to the research frontier and provides the tools and context necessary for new research and policy proposals. Martín Uribe and Stephanie Schmitt-Grohé factor in the discipline's latest developments, including major theoretical advances in incorporating financial and nominal frictions into microfounded dynamic models of the open economy, the availability of macro- and microdata for emerging and developed countries, and a revolution in the tools available to simulate and estimate dynamic stochastic models. The authors begin with a canonical general equilibrium model of an open economy and then build levels of complexity through the coverage of important topics such as international business-cycle analysis, financial frictions as drivers and transmitters of business cycles and global crises, sovereign default, pecuniary externalities, involuntary unemployment, optimal macroprudential policy, and the role of nominal rigidities in shaping optimal exchange-rate policy. Based on courses taught at several universities, Open Economy Macroeconomics is an essential resource for students, researchers, and practitioners. Detailed exploration of international business-cycle analysis Coverage of financial frictions as drivers and transmitters of business cycles and global crises Extensive investigation of nominal rigidities and their role in shaping optimal exchange-rate policy Other topics include fixed exchange-rate regimes, involuntary unemployment, optimal macroprudential policy, and sovereign default and debt sustainability Chapters include exercises and replication codes
Author : Patrizio Tirelli
Publisher : Springer
ISBN 13 : 134922605X
Total Pages : 201 pages
Book Rating : 4.3/5 (492 download)
Download or read book Monetary and Fiscal Policy, the Exchange Rate and Foreign Wealth written by Patrizio Tirelli and published by Springer. This book was released on 2016-07-27 with total page 201 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book investigates issues of policy design in open economies. The performance of simple alternative policy rules is analysed in the context of theoretical models using both analytical solutions and numerical simulations techniques. One of the substantive contributions of the research is that policy evaluation should take into account, among other things, the implications of different rules for foreign wealth and the exchange rate. Hence the open economy models presented in the book include wealth effects and the current account.
Author : Camila Casas
Publisher : International Monetary Fund
ISBN 13 : 148433017X
Total Pages : 62 pages
Book Rating : 4.4/5 (843 download)
Download or read book Dominant Currency Paradigm: A New Model for Small Open Economies written by Camila Casas and published by International Monetary Fund. This book was released on 2017-11-22 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt: Most trade is invoiced in very few currencies. Despite this, the Mundell-Fleming benchmark and its variants focus on pricing in the producer’s currency or in local currency. We model instead a ‘dominant currency paradigm’ for small open economies characterized by three features: pricing in a dominant currency; pricing complementarities, and imported input use in production. Under this paradigm: (a) the terms-of-trade is stable; (b) dominant currency exchange rate pass-through into export and import prices is high regardless of destination or origin of goods; (c) exchange rate pass-through of non-dominant currencies is small; (d) expenditure switching occurs mostly via imports, driven by the dollar exchange rate while exports respond weakly, if at all; (e) strengthening of the dominant currency relative to non-dominant ones can negatively impact global trade; (f) optimal monetary policy targets deviations from the law of one price arising from dominant currency fluctuations, in addition to the inflation and output gap. Using data from Colombia we document strong support for the dominant currency paradigm.
Author : Rudiger Dornbusch
Publisher : Oxford University Press, USA
ISBN 13 :
Total Pages : 434 pages
Book Rating : 4.3/5 (91 download)
Download or read book The Open Economy written by Rudiger Dornbusch and published by Oxford University Press, USA. This book was released on 1988 with total page 434 pages. Available in PDF, EPUB and Kindle. Book excerpt: This important book is a teaching manual, written in nontechnical language, on policymaking in developing countries. Written at the request of the Economic Development Institute of the World Bank, the papers focus on policy instruments, their use and constraints, and provide case studies of economic policy in Argentina, Brazil, Indonesia, Korea, and Mexico to illustrate basic problems and possible solutions.
Author : Ronald I. McKinnon
Publisher :
ISBN 13 :
Total Pages : 46 pages
Book Rating : 4.:/5 (318 download)
Download or read book The Exchange Rate and the Trade Balance written by Ronald I. McKinnon and published by . This book was released on 1989 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Ila Patnaik
Publisher : International Monetary Fund
ISBN 13 : 1455211834
Total Pages : 27 pages
Book Rating : 4.4/5 (552 download)
Download or read book Monetary Policy Transmission in an Emerging Market Setting written by Ila Patnaik and published by International Monetary Fund. This book was released on 2011-01-01 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt: Some emerging economies have a relatively ineffective monetary policy transmission owing to weaknesses in the domestic financial system and the presence of a large and segmented informal sector. At the same time, small open economies can have a substantial monetary policy transmission through the exchange rate channel. In order to understand this setting, we explore a unified treatment of monetary policy transmission and exchangerate pass-through. The results for an emerging market, India, suggest that the most effective mechanism through which monetary policy impacts inflation runs through the exchange rate.
Author : Mr.Guillermo Calvo
Publisher : International Monetary Fund
ISBN 13 : 145192142X
Total Pages : 32 pages
Book Rating : 4.4/5 (519 download)
Download or read book Interest Rate Targeting in a Small Open Economy written by Mr.Guillermo Calvo and published by International Monetary Fund. This book was released on 1990-03-01 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: An important hurdle in analyzing interest rate targeting is that standard models usually lead to price level or inflation rate indeterminacy. This paper develops a simple framework in which such problems do not arise because the bonds whose interest rate is controlled provide liquidity services. This framework is used to examine interest rate targeting in a small open economy under predetermined exchange rates. A permanent increase in the interest rate has no real effects. In contrast, a temporary increase in the interest rate leads to higher consumption and to a current account deficit that worsens over time.
Author : Sven W. Arndt
Publisher : MIT Press (MA)
ISBN 13 : 9780262511728
Total Pages : 229 pages
Book Rating : 4.5/5 (117 download)
Download or read book Real-Financial Linkages Among Open Economies written by Sven W. Arndt and published by MIT Press (MA). This book was released on 2003-02-01 with total page 229 pages. Available in PDF, EPUB and Kindle. Book excerpt: The contributions in this book identify and take up an important problem in international economics -- the split in theoretical and empirical work in international finance and in international trade. This book is unique in attempting to link these two aspects of the international economy together.The eight chapters explore the way exchange rates and international capital movements interact with industrial structure, comparative advantage, and sectoral wage patterns, focusing on results that are valuable to both real and financial analysis in open economies. The principal sources of real-financial linkage discussed throughout the book are structural and intertemporal.In an introductory section, the editors provide an overview of real-financial linkages among open economies and Alan Stockman discusses interactions between goods markets and asset markets. The section on structural sources of real-financial linkages includes chapters by Paul Krugman on pricing to market when the exchange rate changes, Richard Marston on real exchange rates and sectoral productivity growth in the United States and Japan, and Irving Kravis and Robert Lipsey on the assessment of national price levels.A final section on intertemporal sources of real-financial linkages presents an empirical investigation by Michael Hutchison and Charles Pigott into real and financial linkages in the macroeconomic response to budget deficits, and work by Koichi Hamada and Akiyoshi Horiuchi on monetary, financial, and real effects of Yen internationalization.Paul De Grauwe and Bernard de Bellefroid consider long-run exchange rate variability and international trade.
