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Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1451874243
Category : Business & Economics
Languages : en
Pages : 47
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Book Description
In most macroeconomic models, the substitutability between domestic and foreign goods is calibrated using aggregated data. This imposes homogeneous elasticities across goods, and the calibration is only valid under this assumption. If elasticities are heterogeneous, the aggregate substitutability is a weighted average of good-specific elasticities, which in general cannot be inferred from aggregated data. We identify structurally the substitutability in US goods using multilateral trade data. We impose homogeneity, and find an aggregate elasticity similar in value to conventional macroeconomic estimates. It is more than twice larger with sectoral heterogeneity. We discuss the implications in various areas of international economics.
Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1451874243
Category : Business & Economics
Languages : en
Pages : 47
Get Book Here
Book Description
In most macroeconomic models, the substitutability between domestic and foreign goods is calibrated using aggregated data. This imposes homogeneous elasticities across goods, and the calibration is only valid under this assumption. If elasticities are heterogeneous, the aggregate substitutability is a weighted average of good-specific elasticities, which in general cannot be inferred from aggregated data. We identify structurally the substitutability in US goods using multilateral trade data. We impose homogeneity, and find an aggregate elasticity similar in value to conventional macroeconomic estimates. It is more than twice larger with sectoral heterogeneity. We discuss the implications in various areas of international economics.
Author: Giancarlo Gandolfo
Publisher: Springer Science & Business Media
ISBN: 9783540434597
Category : Business & Economics
Languages : en
Pages : 646
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Book Description
"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: Robert M. Stern
Publisher: Springer
ISBN: 1349031372
Category : Business & Economics
Languages : en
Pages : 373
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Book Description
Author: Stuart A Bremer
Publisher: Routledge
ISBN: 1000230023
Category : Political Science
Languages : en
Pages : 965
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Book Description
This is a collection of independent works on the GLOBUS model. A first and basic application of the GLOBUS model was made through the computation of its standard run for the years 1970-2010. Stated in the simplest possible terms GLOBUS is a computer simulation model of many important macropolitical and macroeconomic relationships within and among 25 prominent contemporary nations plus a rest-of-world entity. It is designed and used to explore possible solutions to long-term global problems.
Author: L. Gomes
Publisher: Springer
ISBN: 0230371558
Category : Business & Economics
Languages : en
Pages : 285
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Book Description
This book is about the history of neoclassical international economics, the century-old dominant paradigm of teaching and research in the area of international economic relations. At a time when, in so many of its areas, economics is showing a tendency to go 'back to its roots', a critical historical survey of what has been called 'the queen realm of economics' seems most appropriate. Befitting its title, the prestige of international economics is high among social science disciplines. This book tells the story of that achievement from the beginning of the neoclassical period (1890) to contemporary developments. '...a very helpful account of the historical development of the ideas in international economics. It covers both the real economy and the financial, ie balance-of-payments, aspects. As such it provides a useful perspective on what forms the basis of our understanding of international economic relations. It will be of help and appeal to students and will provide an additional source for those who wish to add to their knowledge in this field.' T.M.Rybczynski
Author: Palek, Jakob
Publisher: kassel university press GmbH
ISBN: 3737600481
Category :
Languages : en
Pages : 112
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Book Description
During the so-called Great Moderation the variability of output, employment and inflation declined substantially in most of the major economies. Because of this positive co-movement the ultimate objective of monetary policy was clear. By stabilizing inflation output will also stay at its potential and the central bank does not face any trade-off between its targets – a situation known as the divine coincidence. With the onset of the financial crisis 2007 these relationships changed. This book contributes to the research on the optimal macroeconomic policy design in the presence of financial frictions. These are incorporated via the cost channel approach into a two-country currency union model. Ultimately, a supply-side effect arises which lowers the efficiency of monetary policy - divine coincidence is not possible any more. Three questions are in the focus of interest of this analysis: What is the optimal monetary policy in the presence of country-specific financial frictions? What role can fiscal policy play? Is macroprudential policy able to improve welfare if the central bank targets a financial stability measure?
Author: Giancarlo Gandolfo
Publisher: Springer Science & Business Media
ISBN: 3662079798
Category : Business & Economics
Languages : en
Pages : 525
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Book Description
There is no lack of good international economics textbooks ranging from the elementary to the advanced, so that an additional drop in this ocean calls for an explanation. In the present writer's opinion, there seems still to be room for a textbook which can be used in both undergraduate and graduate courses, and which contains a wide range of topics, including those usually omitted from other textbooks. These are the intentions behind the present book, which is an outcrop from undergraduate and graduate courses in international economics that the author has been holding at the University of Rome since 1974, and from his on going research work in this field. Accordingly the work is organized as two-books in-one by distributing the material between text and appendices. The treatment in the body of this book is directed to undergraduate students and is mainly confined to graphic analysis and to some elementary algebra, but it is assumed that the reader will have a good knowledge of basic microeconomics and macroeconomics (so that the usual review material on production functions, indifference curves, standard Keynesian model, etc. , etc. has been omitted) . Each chapter is followed by an appendix in which the treatment is mainly mathematical, and where (i) the topics explained in the text are treated at a level suitable for advanced undergraduate or first-year graduate students and (ii) generalizations and/or topics not treated in the text (including some of those at the frontiers of research) are formally examined.
Author: Pasquale Michael Sgro
Publisher: EOLSS Publications
ISBN: 1848261845
Category :
Languages : en
Pages : 392
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Book Description
International Economics, Finance and Trade is the component of Encyclopedia of Development and Economic Sciences in the global Encyclopedia of Life Support Systems (EOLSS), which is an integrated compendium of twenty one Encyclopedias. The subject matter of international economics and finance includes all transactions that cross national boundaries including trade in goods and services, capital and labor markets and transactions in financial assets. The chapters in these volumes are organized into six topics. The first topic starts with several chapters dealing with the 'core' theory in international economics and finance. The second topic presents with several chapters dealing with balance of payments and exchange rates and again emphasis is placed on the evolution of the various approaches. The third topic focuses on the International Financial Architecture, that is the intentional institutions such as the IMF, World bank and the various groupings of countries such as the G7 and G22, which have been set up to facilitate international trade and economic development .The fourth topic deals with a detailed looked at multinational Banking and Global Capital markets, including the role, if any, of regulation of capital markets and the Banking sector. The fifth topic looks at the strategic developments in international trade and issues of globalisation and international trade law as well as the use of terms such as “strategic trade policy” as a way of disguising trade protectionist arguments. The final topic deals in detail with environmental regulations, policy and property rights and their role in sustainable development. These two volumes are aimed at the following a wide spectrum of audiences from the merely curious to those seeking in-depth knowledge: University and College students Educators, Professional practitioners, Research personnel and Policy analysts, managers, and decision makers and NGOs.
Author: Giancarlo Gandolfo
Publisher: Springer Science & Business Media
ISBN: 9783540586876
Category : Business & Economics
Languages : en
Pages : 588
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Book Description
This second volume covers all the conventional topics of international monetary theory and open-economy macroeconomics, and a lot more besides. Gandolfo treats such further concepts as the theory of monetary integration and the European monetary union, foreign exchange crises and the Tobin tax, theory of games and international policy coordination. It follows the "two-tier" structure of the first volume, and, thanks to its self-contained treatment, may equally be used as a reference book.
Author: Robert William Dimand
Publisher: Taylor & Francis US
ISBN: 9780415315647
Category : Balance of payments
Languages : en
Pages : 532
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Book Description
A collection of materials reprinted from various sources.
