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An introduction to international macroeconomics : theory, policy and applications / Graham Bird.

By: Contributor(s): Material type: TextPublication details: Basingstoke : Palgrave Macmillan, 2007.Edition: 3rd edDescription: xii, 227 p. : ill. ; 24 cmISBN:
  • 1403940045 (pbk.) :
  • 9781403940049 (pbk.) :
Subject(s): DDC classification:
  • 339 22
Contents:
Part I Theory 5 -- 2 An Open-economy Macroeconomic Model 7 -- From Simple Closed- to Simple Open-economy Models 7 -- IS-LM and the Open Economy 12 -- The Foreign Trade or Open-economy Multiplier 13 -- The Transmission of Changes in Economic Activity between Economies 15 -- Some Reservations about the Simple Open-economy Model 17 -- Prices in the Open-economy Model 18 -- 3 Trade Functions and Capital Movements 35 -- The Import Function 35 -- The Export Function 38 -- The Capital Account: Flow or Stock Theory? 39 -- Disaggregating Capital Flows 45 -- 4 Balance of Payments Theory 46 -- A Basic Model of the Balance of Payments 46 -- Shifts in IS: The Absorption Approach 48 -- Shifts in LM: The Monetary Approach 51 -- Shifts in BP: The Structural Approach 55 -- Synthesising the Approaches: Towards a General Theory 56 -- 5 Theories of Exchange-rate Determination 60 -- Structural and Absorption Factors: Shifts in BP and IS 63 -- The Monetary Approach: Shifts in LM 64 -- Purchasing Power Parity (PPP) 65 -- The Asset Market Approach 67 -- Expectations and Exchange Rates 68 -- Overshooting 68 -- Forward Markets 71 -- Synthesising the Approaches: Some Tentative Conclusions 72 -- 6 Theories of Currency Crisis 75 -- Currency Crisis Models 75 -- Can Crises be Anticipated? 82 -- Crises and Contagion 84 -- Policies During a Crisis and the Aftermath of Crises 86 - - Part II Policy 91 -- 7 Balance of Payments Policy 93 -- To Adjust or to Finance? 93 -- What Does Adjustment Involve? 95 -- Commercial Policy and the Balance of Payments 97 -- Structural Adjustment and the Supply Side 98 -- Choosing a Balance of Payments Policy: The Political Economy Dimension 99 -- Policy at National and Global Levels 100 -- 8 Stabilisation Policy in an Open Economy 102 -- Targets 102 -- Instruments 103 -- Matching Targets and Instruments 105 -- A Model of the Assignment Problem 105 -- Criticisms of the Model 107 -- Policy Analysis Within the IS-LM-BP Model: With Fixed Exchange Rates 108 -- Policy Analysis Within the IS-LM-BP Model: With Flexible Exchange Rates 113 -- Fiscal Policy 113 -- Monetary Policy 117 -- Macroeconomic Interdependence: The Transmission of Policy Changes 120 -- 9 Exchange Rate Management and Policy 125 -- Devaluation, Foreign Trade Elasticities and the Current Account 125 -- Elasticity Pessimism 128 -- Income Elasticities 130 -- Devaluation, Absorption and the Monetary Sector 130 -- The Size, Method and Pace of Exchange Rate Depreciation 132 -- Currency Depreciation and the Capital Account 134 -- The Political Economy of Currency Depreciation 135 -- The Choice of Exchange Rate Regime 137 -- Monetary Integration 141 -- Optimum Currency Areas 141 -- Single Currencies and Dollarisation 143 -- Regime Change 145 -- 10 Dealing with International Capital Volatility 151 -- Revisiting Theory 151 -- Capital Mobility: Good or Bad? 153 -- The Macroeconomic Effects of Capital Flows 154 -- Policy Options 156 -- 11 The International Co-ordination of Macroeconomic Policy 158 -- Forms of Policy Co-ordination 159 -- Arguments For Policy Co-ordination 161 -- Arguments Against Policy Co-ordination 163 -- Issues for Further Consideration 164 -- Institutional Arrangements 165 -- Part III Applications 167 -- 12 The Oil Crisis of the 1970s and the Debt Crisis of the 1980s 169 -- The Oil Crisis of the 1970s 169 -- The Developing Country Debt Crisis of the 1980s 172 -- 13 Monetary Integration in Europe: The UK and the Euro 175 -- Britain's Entry into the ERM 175 -- Britain's Exit from the ERM 176 -- Monetary Integration in Europe After the Crisis 181 -- The Euro Arrives: To Join or Not to Join? 182 -- The Downs and Ups of the Euro 183 -- 14 Currency and Economic Crises in Emerging Economies 185 -- The Mexican Peso Crisis of 1994 185 -- The East Asian Crisis, 1997 -- 8 188 -- Argentina, 2002 192 -- 15 The US Current Account Deficit and Global Economic Imbalances 197 -- Explaining the US Current Account Deficit 197 -- The Current Account Deficit and Sustainability 201 -- Policy Options in the USA 202 -- Global Economic Imbalances and Policy Co-ordination 203 - - 16 Macroeconomic Policy and the International Monetary Fund 205 -- The Classic Current Account Case and Conventional IMF Policy Wisdom 205 -- Low-income Countries and Structural Adjustment 207 -- Capital Account Crises and Discontentment with IMF Policy 210.
Holdings
Cover image Item type Current library Home library Collection Shelving location Call number Materials specified Vol info URL Copy number Status Notes Date due Barcode Item holds Item hold queue priority Course reserves
Main RTC Library Main opac Main TEST 339.2 BIR Available 30010647
Total holds: 0

Formerly CIP. Uk.

Previous ed.: Basingstoke: Macmillan, 1998.

Rev. ed. of: International macroeconomics. New York : Macmillan, 1987.

Includes bibliographical references (p. 212-219) and index.

Part I Theory 5 -- 2 An Open-economy Macroeconomic Model 7 -- From Simple Closed- to Simple Open-economy Models 7 -- IS-LM and the Open Economy 12 -- The Foreign Trade or Open-economy Multiplier 13 -- The Transmission of Changes in Economic Activity between Economies 15 -- Some Reservations about the Simple Open-economy Model 17 -- Prices in the Open-economy Model 18 -- 3 Trade Functions and Capital Movements 35 -- The Import Function 35 -- The Export Function 38 -- The Capital Account: Flow or Stock Theory? 39 -- Disaggregating Capital Flows 45 -- 4 Balance of Payments Theory 46 -- A Basic Model of the Balance of Payments 46 -- Shifts in IS: The Absorption Approach 48 -- Shifts in LM: The Monetary Approach 51 -- Shifts in BP: The Structural Approach 55 -- Synthesising the Approaches: Towards a General Theory 56 -- 5 Theories of Exchange-rate Determination 60 -- Structural and Absorption Factors: Shifts in BP and IS 63 -- The Monetary Approach: Shifts in LM 64 -- Purchasing Power Parity (PPP) 65 -- The Asset Market Approach 67 -- Expectations and Exchange Rates 68 -- Overshooting 68 -- Forward Markets 71 -- Synthesising the Approaches: Some Tentative Conclusions 72 -- 6 Theories of Currency Crisis 75 -- Currency Crisis Models 75 -- Can Crises be Anticipated? 82 -- Crises and Contagion 84 -- Policies During a Crisis and the Aftermath of Crises 86 - - Part II Policy 91 -- 7 Balance of Payments Policy 93 -- To Adjust or to Finance? 93 -- What Does Adjustment Involve? 95 -- Commercial Policy and the Balance of Payments 97 -- Structural Adjustment and the Supply Side 98 -- Choosing a Balance of Payments Policy: The Political Economy Dimension 99 -- Policy at National and Global Levels 100 -- 8 Stabilisation Policy in an Open Economy 102 -- Targets 102 -- Instruments 103 -- Matching Targets and Instruments 105 -- A Model of the Assignment Problem 105 -- Criticisms of the Model 107 -- Policy Analysis Within the IS-LM-BP Model: With Fixed Exchange Rates 108 -- Policy Analysis Within the IS-LM-BP Model: With Flexible Exchange Rates 113 -- Fiscal Policy 113 -- Monetary Policy 117 -- Macroeconomic Interdependence: The Transmission of Policy Changes 120 -- 9 Exchange Rate Management and Policy 125 -- Devaluation, Foreign Trade Elasticities and the Current Account 125 -- Elasticity Pessimism 128 -- Income Elasticities 130 -- Devaluation, Absorption and the Monetary Sector 130 -- The Size, Method and Pace of Exchange Rate Depreciation 132 -- Currency Depreciation and the Capital Account 134 -- The Political Economy of Currency Depreciation 135 -- The Choice of Exchange Rate Regime 137 -- Monetary Integration 141 -- Optimum Currency Areas 141 -- Single Currencies and Dollarisation 143 -- Regime Change 145 -- 10 Dealing with International Capital Volatility 151 -- Revisiting Theory 151 -- Capital Mobility: Good or Bad? 153 -- The Macroeconomic Effects of Capital Flows 154 -- Policy Options 156 -- 11 The International Co-ordination of Macroeconomic Policy 158 -- Forms of Policy Co-ordination 159 -- Arguments For Policy Co-ordination 161 -- Arguments Against Policy Co-ordination 163 -- Issues for Further Consideration 164 -- Institutional Arrangements 165 -- Part III Applications 167 -- 12 The Oil Crisis of the 1970s and the Debt Crisis of the 1980s 169 -- The Oil Crisis of the 1970s 169 -- The Developing Country Debt Crisis of the 1980s 172 -- 13 Monetary Integration in Europe: The UK and the Euro 175 -- Britain's Entry into the ERM 175 -- Britain's Exit from the ERM 176 -- Monetary Integration in Europe After the Crisis 181 -- The Euro Arrives: To Join or Not to Join? 182 -- The Downs and Ups of the Euro 183 -- 14 Currency and Economic Crises in Emerging Economies 185 -- The Mexican Peso Crisis of 1994 185 -- The East Asian Crisis, 1997 -- 8 188 -- Argentina, 2002 192 -- 15 The US Current Account Deficit and Global Economic Imbalances 197 -- Explaining the US Current Account Deficit 197 -- The Current Account Deficit and Sustainability 201 -- Policy Options in the USA 202 -- Global Economic Imbalances and Policy Co-ordination 203 - - 16 Macroeconomic Policy and the International Monetary Fund 205 -- The Classic Current Account Case and Conventional IMF Policy Wisdom 205 -- Low-income Countries and Structural Adjustment 207 -- Capital Account Crises and Discontentment with IMF Policy 210.

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