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Author: Michael Vogelsang
Publisher: Springer Science & Business Media
ISBN: 3790823929
Category : Business & Economics
Languages : en
Pages : 270
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Book Description
Digital strings are not visible, but affect all economic segments. This book studies the phenomenon of digitalization with the instruments of economics in order to explore the interdependencies between digitalization, economic policy, and macroeconomic variables of open economies. Digitalization is separated into the three components networks, IT services, and digital goods which are then incorporated into macroeconomic models of trade theory in open economies. This approach allows to formally describe the cross-effects between digitalization and macroeconomic variables of a country. Specifically, it is used to analyze interdependencies between macroeconomic variables and networks, IT services, and digital goods, and to determine the challenges of digitalization for economic policy and regulation.
Author: Michael Vogelsang
Publisher: Springer Science & Business Media
ISBN: 3790823929
Category : Business & Economics
Languages : en
Pages : 270
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Book Description
Digital strings are not visible, but affect all economic segments. This book studies the phenomenon of digitalization with the instruments of economics in order to explore the interdependencies between digitalization, economic policy, and macroeconomic variables of open economies. Digitalization is separated into the three components networks, IT services, and digital goods which are then incorporated into macroeconomic models of trade theory in open economies. This approach allows to formally describe the cross-effects between digitalization and macroeconomic variables of a country. Specifically, it is used to analyze interdependencies between macroeconomic variables and networks, IT services, and digital goods, and to determine the challenges of digitalization for economic policy and regulation.
Author: Martín Uribe
Publisher: Princeton University Press
ISBN: 0691158770
Category : Business & Economics
Languages : en
Pages : 646
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Book Description
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: Mr. Rabah Arezki
Publisher: International Monetary Fund
ISBN: 1513590766
Category : Business & Economics
Languages : en
Pages : 54
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Book Description
This paper explores the effect of news shocks on the current account and other macroeconomic variables using worldwide giant oil discoveries as a directly observable measure of news shocks about future output ? the delay between a discovery and production is on average 4 to 6 years. We first present a two-sector small open economy model in order to predict the responses of macroeconomic aggregates to news of an oil discovery. We then estimate the effects of giant oil discoveries on a large panel of countries. Our empirical estimates are consistent with the predictions of the model. After an oil discovery, the current account and saving rate decline for the first 5 years and then rise sharply during the ensuing years. Investment rises robustly soon after the news arrives, while GDP does not increase until after 5 years. Employment rates fall slightly for a sustained period of time.
Author: Ian Goldin
Publisher: Cambridge University Press
ISBN: 9780521420563
Category : Business & Economics
Languages : en
Pages : 350
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Book Description
Examines the interaction between macroeconomic and agricultural sector reforms in developing and East European economies.
Author: Helmut Frisch
Publisher: Springer
ISBN: 1349128848
Category : Business & Economics
Languages : en
Pages : 437
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Book Description
The integration of market economies is one of the most remarkable features of international economics, which has important implications for macroeconomic performance in open economies. Equally important is the declining relevance of the real versus the monetary theory dichotomy. These papers focus on those aspects of monetary policy which relate to credibility and non-neutrality; the domestic adjustment to foreign shocks; the interdependence of open economies and their strategic interactions. An important section is also devoted to the innovative modelling of exchange rate dynamics.
Author: Carlos A. Vegh
Publisher: MIT Press
ISBN: 0262316900
Category : Business & Economics
Languages : en
Pages : 911
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Book Description
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: Karl-Josef Koch
Publisher: Springer Science & Business Media
ISBN: 3662004232
Category : Business & Economics
Languages : en
Pages : 398
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Book Description
Part 1 of this volume focusses on globalization. Gains from trade, international competitiveness, labour market issues in open economies, customs unions, dumping and intra-firm trade are the topics of this part. Part 2 puts a stronger emphasis on dynamic economics. Social income, intergenerational transfers, public pension systems, and bequest and gift motives in overlapping generation models are main topics. Economic policies are analyzed in Part 3, including the relation between wage rigidity and migration, several aspects of German financial and monetary policy, as well as tax competition. The volume concludes with institutional issues of globalization, a western view on eastern transition, social cost of rent seeking, and the evolution of social institutions.
Author: John Berdell
Publisher: Edward Elgar Publishing
ISBN: 9781843765615
Category : Business & Economics
Languages : en
Pages : 208
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Book Description
"This work will be of great interest to both historians of economic ideas and economists concerned with modelling the interactions between growth and international trade."--BOOK JACKET.
Author: Robert H. Bates
Publisher: Princeton University Press
ISBN: 0691221766
Category : Political Science
Languages : en
Pages : 239
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Book Description
Coffee is traded in one of the few international markets ever subject to effective political regulation. In Open-Economy Politics, Robert Bates explores the origins, the operations, and the collapse of the International Coffee Organization, an international "government of coffee" that was formed in the 1960s. In so doing, he addresses key issues in international political economy and comparative politics, and analyzes the creation of political institutions and their impact on markets. Drawing upon field work in East Africa, Colombia, and Brazil, Bates explores the domestic sources of international politics within a unique theoretical framework that blends game theoretic and more established approaches to the study of politics. The book will appeal to those interested in international political economy, comparative politics, and the political economy of development, especially in Latin America and Africa, and to readers wanting to learn more about the economic and political realities that underlie the coffee market. It is also must reading for those interested in "the new institutionalism" and modern political economy.
Author: Rudiger Dornbusch
Publisher: New York : Basic Books
ISBN:
Category : Business & Economics
Languages : en
Pages : 312
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Book Description
Employment, the trade balance and relative prices; Money and payments adjustment; Assets markets, capital mobility, and stabilization policy; Portfolio balance and the current account.
