World trade and payments: an introduction
Gespeichert in:
Hauptverfasser: | , , |
---|---|
Format: | Buch |
Sprache: | English |
Veröffentlicht: |
Boston ; Munich [u.a.]
Addison Wesley
2007
|
Ausgabe: | 10. ed., internat. ed. |
Schriftenreihe: | The Addison-Wesley series in economics
|
Schlagworte: | |
Online-Zugang: | Inhaltsverzeichnis Inhaltsverzeichnis |
Beschreibung: | Incl. bibliogr. references and index |
Beschreibung: | getr. Zählung graph. Darst. |
ISBN: | 0321248554 9780321248558 0321226607 |
Internformat
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100 | 1 | |a Caves, Richard E. |d 1931-2019 |e Verfasser |0 (DE-588)12919798X |4 aut | |
245 | 1 | 0 | |a World trade and payments |b an introduction |c Richard E. Caves ; Jeffrey A. Frankel ; Ronald W. Jones |
250 | |a 10. ed., internat. ed. | ||
264 | 1 | |a Boston ; Munich [u.a.] |b Addison Wesley |c 2007 | |
300 | |a getr. Zählung |b graph. Darst. | ||
336 | |b txt |2 rdacontent | ||
337 | |b n |2 rdamedia | ||
338 | |b nc |2 rdacarrier | ||
490 | 0 | |a The Addison-Wesley series in economics | |
500 | |a Incl. bibliogr. references and index | ||
650 | 4 | |a International trade | |
650 | 4 | |a Balance of payments | |
650 | 4 | |a Commercial policy | |
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Datensatz im Suchindex
_version_ | 1804136286604230657 |
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adam_text | Contents
Preface
xv
chapter
1
Introduction
1
1.1
The Subject of International Economics
2
1.2
Patterns of International Trade
5
1.3
The Organization of This Book
8
PART I COMPARATIVE ADVANTAGE AND
THE BASIC MODEL OF INTERNATIONAL TRADE
chapter
2
The Gains from Trade
13
2.1
Background Behavior: Demand
14
2.2
Background Behavior: Supply
17
2.3
Gains from Trade and Free-Trade Equilibrium
20
2.4
Winners and Losers: Autarky to Free Trade
27
2.5
Summary
29
CHAPTER PROBLEMS
30
APPENDIX A: The Box Diagram
31
APPENDIX B: Substitution and Income Effects
32
APPENDIX C: The Offer Curve Diagram
34
chapter
3
Applications of the Basic Model
37
3.1
Disturbances from Abroad and the Terms of Trade
38
3.2
Protecting the Import-Competing Commodity
40
3.3
Growth and International Trade
42
3.4
The Transfer Problem
43
3.5
Wider Interpretations of the Basic Trade Model
47
3.6
Trade and Market Structure
51
3.7
Summary
51
CHAPTER PROBLEMS
52
SUGGESTIONS FOR FURTHER READING
53
APPENDIX: The Stability Issue
53
11
PART II GLOBALIZATION: TRADE PATTERNS
AND INCOME DISTRIBUTION
57
chapter
4
Technology and International
Income Distribution: The Ricardian Model
59
4.1
The Ricardian Setting
60
4.2
Free-Trade Equilibrium
61
4.3
International Wage Comparisons and Productivities
64
4.4
A Many-Commodity and Many-Country World
68
4.5
Winners and Losers from Productivity Shocks
69
4.6
Nontraded Commodities
72
4.7
Summary
75
CHAPTER PROBLEMS
76
SUGGESTIONS FOR FURTHER READING
77
APPENDIX: Transitional Unemployment
77
chapter
5
Factor Endowments and
Trade I: The Specific Factors Model
79
5.1
Diminishing Returns and Factor Hires
79
5.2
Outputs and Income Distribution in the Closed Economy
80
5.3
Outputs and Income Distribution with Free Trade
82
5.4
Growth in Factor Endowments
84
5.5
Consequences for Political Economy
85
5.6
The Pattern of Trade
86
5.7
Alternative Interpretations: Specific Capital or Specific Labor
8
5.8
Dutch Disease
88
5.9
Summary
90
CHAPTER PROBLEMS
92
SUGGESTIONS FOR FURTHER READING
93
APPENDIX: The Transformation Schedule
93
chapter
б
Factor Endowments and
Trade II: The Heckscher-Ohiin Model
95
6.1
If Technology Is Rigid
96
6.2
Flexible Technology
99
6.3
Possible Trade Patterns and the Distribution of Income
102
6.4
International Trade
with Many Commodities
106
6.5
How Concentrated Is Production?
108
6.6
Changing Comparative Advantage with Economic Growth
109
6.7
Heckscher-Ohlin Theory and Empirical Evidence
110
6.8
Summary
114
CHAPTER PROBLEMS
116
SUGGESTIONS FOR FURTHER READING
117
APPENDIX: The Production Box
118
chapter
7
Imperfect Competition,
Increasing Returns, and Product Variety
121
7.1
The Prevalence of Intra-lndustry Trade
122
7.2
Consumer Behavior and the Demand for Product Variety
123
7.3
Increasing Returns in Production
125
7.4
Summary
131
CHAPTER PROBLEMS
132
SUGGESTIONS FOR FURTHER READING
132
chapter
8
Resource Trade, Outsourcing,
and Product Fragmentation
133
8.1
Given Resources and Footloose Production Processes
134
8.2
Footloose Inputs: The Joint Role of
Comparative and Absolute Advantage
137
8.3
Outsourcing and the International Fragmentation of Production
8.4
Outsourcing and Advanced Country Wage Rates
144
8.5
Summary
147
CHAPTER PROBLEMS
148
SUGGESTIONS FOR FURTHER READING
148
chapter
9
International Factor Movements: Labor and Capital
151
9.1
Factor Movements, Efficiency, and Welfare
151
9.2
International Capital Movements: Selected Issues
154
9.3
Multinationals and Foreign Direct Investment
158
9.4
Summary
164
CHAPTER PROBLEMS
165
SUGGESTIONS FOR FURTHER READING
166
141
PART
ili
THE THEORY AND
PRACTIŒ
OF COMMERCIAL POLICY
167
chapter
10
Protection and the National Welfare
169
10.1
Protection by a Small Country
170
10.2
Protection by a Large Country
177
10.3
Taxing Trade: Domestic Welfare
178
10.4
Taxing Trade: World Welfare
179
10.5
Summary
181
CHAPTER PROBLEMS
181
SUGGESTIONS FOR FURTHER READING
182
APPENDIX: Tariffs and the Offer Curve
182
chapter
11
The
Política!
Economy of Protection
187
11.1
Protection as a Device for Raising Revenue
187
11.2
Commercial Policy as a Second-Best Device
189
11.3
Protection and Rent-Seeking Activities
192
11.4
Growth, Protection, and Welfare
197
11.5
Protection and Unemployment
200
11.6
Summary
200
CHAPTER PROBLEMS
201
SUGGESTIONS FOR FURTHER READING
201
chapter
12
Trade Policy and Imperfect Competition
203
12.1
Monopoly and the Gains from Trade
203
12.2
Cartels and the Interests of Producing and Consuming Countries
207
12.3
Monopoly and Policies of Exporting and Importing Countries
209
12.4
Intellectual Property Rights
218
12.5
Summary
220
CHAPTER PROBLEMS
221
SUGGESTIONS FOR FURTHER READING
222
APPENDIX: International Duopoly and National Strategy
223
chapter
13
Trade Controls in Practice
227
13.1
Tariffs: Levels and Trends
227
13.2
Multilateral Tariff Reduction
229
13.3
Devices for Special Protection
233
13.4 Special
Protection
in Action
236
13.5
Prospects for Special Protection
241
13.6
Summary
242
CHAPTER PROBLEMS
243
SUGGESTIONS FOR FURTHER READING
244
chapter
14
Preferential Arrangements
and Regional Issues in Trade Policy
245
14.1
Regional Preferences and Regional Trade
245
14.2
Welfare Effects of Trade Preferences
247
14.3
Preferential Arrangements in Practice
251
14.4
Trade Problems of the Economies in Transition
257
14.5
Trade and Growth: China and the Asian NICs
260
14.6
Preferential Arrangements: New Policy Issues
264
14.7
Summary
267
CHAPTER PROBLEMS
269
SUGGESTIONS FOR FURTHER READING
269
PART IV MONEY, INCOME, AND THE BALANCE OF PAYMENTS
271
chapter
15
The Balance of Payments Accounts
273
15.1
Breakdown of the Accounts
275
15.2
How Individual Transactions Are Recorded
278
15.3
Double-Entry Bookkeeping
280
15.4
The Balances
282
15.5
Statistical Errors in the Payments Accounts
286
15.6
Summary
288
CHAPTER PROBLEMS
288
chapter
16
The Foreign Exchange Market and Trade Elasticities
16.1
The Flow of Supply and Demand for Foreign Exchange
291
16.2
Empirical Effects of Devaluation on the Trade Balance
297
16.3
Summary
300
CHAPTER PROBLEMS
301
SUGGESTIONS FOR FURTHER READING
303
APPENDIX: Stability of the Foreign Exchange Market
303
291
chapter
17
National Income and the Trade Balance
307
17.1
The Small-Country Keynesian Model
307
17.2
The National Saving-Investment Identity
309
17.3
Multipliers
310
17.4
The Transfer Problem
314
17.5
For a Large Country: The Two-Country Keynesian Model
316
17.6
Summary
321
CHAPTER PROBLEMS
322
SUGGESTIONS FOR FURTHER READING
324
APPENDIX: The Two-Country Model in Graphical Form
324
chapter
18
Spending and the Exchange
Rate ¡n the Keynesian Model
327
18.1
Transmission of Disturbances
327
18.2
Expenditure-Switching and Expenditure-Reducing Policies
330
18.3
Monetary Factors
337
18.4
Summary
343
CHAPTER PROBLEMS
344
SUGGESTIONS FOR FURTHER READING
346
APPENDIX A: The Laursen-Metzler-Harberger Effect
346
APPENDIX B: The Assignment Problem
350
chapter
19
The Money Supply, the Price Level,
and the Balance of Payments
353
19.1
The Nonsterilization Assumption
353
19.2
The Purchasing Power Parity Assumption
358
19.3
Purchasing Power Parity in a Hyperinflation
369
19.4
PPP in the Model of the Balance of Payments
372
19.5
Summary
374
CHAPTER PROBLEMS
375
SUGGESTIONS FOR FURTHER READING
377
APPENDIX A: The Gold Standard
378
APPENDIX B: Reserve Flows After Spending Increase and Devaluation
382
APPENDIX C: The Determination of the Balance of
Payments in the Monetarist Model
384
chapter
20
Developing Countries and Other Small
Open Economies with Nontraded Goods
391
20.1
Nontraded Goods
392
20.2
Expenditure and the Relative Price of Nontraded Goods
20.3
The Monetary Approach with Nontraded Goods
401
20.4
Summary
407
CHAPTER PROBLEMS
407
SUGGESTIONS FOR FURTHER READING
408
395
PART V INTERNATIONAL FINANCIAL MARKETS
AND THEIR
MACROECONOMIC
IMPLICATIONS
chapter
21
The Globalization of Financial Markets
411
21.1
The Postwar Financial System
(1944-1973) 412
21.2
The Foreign Exchange Market
414
21.3
Liberalization
419
21.4
Innovation
426
21.5
Advantages of Financial Integration
435
21.6
Summary
439
CHAPTER PROBLEMS
439
SUGGESTIONS FOR FURTHER READING
440
APPENDIX: The Effect of a Budget Deficit
Under
Intertemporal
Optimization
441
chapter
22
The Mundell-Fleming Model with
Partial International Capital Mobility
445
22.1
The Model
447
22.2
Fiscal Policy and the Degree of
Capital Mobility Under Fixed Rates
450
22.3
Monetary Policy and the Degree of
Capital Mobility Under Fixed Rates
452
22.4
When Money Flows Are Not Sterilized
454
22.5
Other Automatic Mechanisms of Adjustment
456
22.6
The Pursuit of Internal and External Balance
457
22.7
Summary
460
409
CHAPTER PROBLEMS
461
SUGGESTIONS FOR FURTHER READING
461
APPENDIX: Zones of Internal and External Balance
461
chapter
23
Fiscal and Monetary Policy Under
Modern Financial Market Conditions
467
23.1
Fiscal Policy Under Floating:
An Effect Mitigated by Capital Mobility
468
23.2
Monetary Policy Under Floating:
An Effect Enhanced by Capital Mobility
474
23.3
Policy Under Perfect Capital Mobility
477
23.4
Summary
486
CHAPTER PROBLEMS
486
SUGGESTIONS FOR FURTHER READING
487
chapter
24
Crises in Emerging Markets
489
24.1
Inflows to Emerging Markets
489
24.2
Managing Outflows
498
24.3
Speculative Attacks
499
24.4
Contagion
504
24.5
IMF Country Programs
506
24.6
Contractionary Effects of Devaluation
510
24.7
Capital Controls
515
24.8
Reform of International Financial Architecture
518
24.9
Summary
520
CHAPTER PROBLEMS
521
SUGGESTIONS FOR FURTHER READING
522
chapter
25
Interdependence and Policy Coordination
525
25.1
International Transmission of Disturbances
Under Floating Exchange Rates
525
25.2
Econometric Models of the Interdependent World Economy
530
25.3
International Macroeconomic Policy Coordination
535
25.4
Summary
540
CHAPTER PROBLEMS
540
SUGGESTIONS FOR FURTHER READING
541
chapter
26
Supply and Inflation
543
26.1
The Aggregate Supply Relationship
543
26.2
Supply Relationship with Indexed Wages
551
26.3
Inflation
554
26.4
Alternative Anchors for a Country s Money
556
26.5
The Choice of Exchange Rate Regime
559
26.6
Summary
567
CHAPTER PROBLEMS
568
SUGGESTIONS FOR FURTHER READING
568
PART VI THE DETERMINATION OF EXCHANGE
RATES IN INTERNATIONAL ASSET MARKETS
571
chapter
27
Expectations, Money, and the
Determination of the Exchange Rate
573
27.1
Interest Rate Parity Conditions
573
27.2
The Monetary Model of Exchange Rates with Flexible Prices
575
27.3
Two Examples of the Importance of Expectations
585
27.4
Overshooting and the Real Exchange Rate
588
27.5
Two More Examples of the Importance of Expectations
599
27.6
Summary
603
CHAPTER PROBLEMS
604
SUGGESTIONS FOR FURTHER READING
605
chapter
28
Exchange Rate Forecasting and Risk
607
28.1
Forecasting the Spot Exchange Rate
607
28.2
The Role of Exchange Risk
612
28.3
Portfolio Balance Effects on the Exchange Rate
616
28.4
Summary
620
CHAPTER PROBLEMS
621
SUGGESTIONS FOR FURTHER READING
622
PART
VII
SUPPLEMENTS FOR SELECTED CHAPTERS S-1
SUPPLEMENT TO CHAPTER
2:
The Equations of Exchange Equilibrium S-3
SUPPLEMENT TO CHAPTER
3:
Stability and Comparative Statics
in the Basic Trade Model S-1
0
SUPPLEMENT
TO CHAPTER
5:
The Specific-Factors Model of Production S-17
SUPPLEMENT TO CHAPTER
6:
The Two-Sector Heckscher-Ohlin Model S-22
SUPPLEMENT TO CHAPTER
10:
Real Incomes, Prices, and the Tariff S-27
SUPPLEMENT TO CHAPTER
11 :
Tariffs, Growth, and Welfare S-33
SUPPLEMENT TO CHAPTER
12:
Imperfect Competition,
Trade Restrictions, and Welfare S-39
SUPPLEMENT TO CHAPTER
16:
Import and Export Elasticities S-43
SUPPLEMENT TO CHAPTER
19:
The Monetarist Two-Country Model
of the Balance of Payments S-44
SUPPLEMENT TO CHAPTER
24:
Debt Dynamics S-47
SUPPLEMENT TO CHAPTER
25:
The Locomotive Theory S-48
SUPPLEMENT TO CHAPTER
26:
Real Wage Indexation S-50
SUPPLEMENT TO CHAPTER
27:
The Monetary Model of the Exchange Rate S-51
SUPPLEMENT TO CHAPTER
28:
The Optimally Diversified Portfolio S-55
index
1-1
|
adam_txt |
Contents
Preface
xv
chapter
1
Introduction
1
1.1
The Subject of International Economics
2
1.2
Patterns of International Trade
5
1.3
The Organization of This Book
8
PART I COMPARATIVE ADVANTAGE AND
THE BASIC MODEL OF INTERNATIONAL TRADE
chapter
2
The Gains from Trade
13
2.1
Background Behavior: Demand
14
2.2
Background Behavior: Supply
17
2.3
Gains from Trade and Free-Trade Equilibrium
20
2.4
Winners and Losers: Autarky to Free Trade
27
2.5
Summary
29
CHAPTER PROBLEMS
30
APPENDIX A: The Box Diagram
31
APPENDIX B: Substitution and Income Effects
32
APPENDIX C: The Offer Curve Diagram
34
chapter
3
Applications of the Basic Model
37
3.1
Disturbances from Abroad and the Terms of Trade
38
3.2
Protecting the Import-Competing Commodity
40
3.3
Growth and International Trade
42
3.4
The Transfer Problem
43
3.5
Wider Interpretations of the Basic Trade Model
47
3.6
Trade and Market Structure
51
3.7
Summary
51
CHAPTER PROBLEMS
52
SUGGESTIONS FOR FURTHER READING
53
APPENDIX: The Stability Issue
53
11
PART II GLOBALIZATION: TRADE PATTERNS
AND INCOME DISTRIBUTION
57
chapter
4
Technology and International
Income Distribution: The Ricardian Model
59
4.1
The Ricardian Setting
60
4.2
Free-Trade Equilibrium
61
4.3
International Wage Comparisons and Productivities
64
4.4
A Many-Commodity and Many-Country World
68
4.5
Winners and Losers from Productivity Shocks
69
4.6
Nontraded Commodities
72
4.7
Summary
75
CHAPTER PROBLEMS
76
SUGGESTIONS FOR FURTHER READING
77
APPENDIX: Transitional Unemployment
77
chapter
5
Factor Endowments and
Trade I: The Specific Factors Model
79
5.1
Diminishing Returns and Factor Hires
79
5.2
Outputs and Income Distribution in the Closed Economy
80
5.3
Outputs and Income Distribution with Free Trade
82
5.4
Growth in Factor Endowments
84
5.5
Consequences for Political Economy
85
5.6
The Pattern of Trade
86
5.7
Alternative Interpretations: Specific Capital or Specific Labor
8
5.8
Dutch Disease
88
5.9
Summary
90
CHAPTER PROBLEMS
92
SUGGESTIONS FOR FURTHER READING
93
APPENDIX: The Transformation Schedule
93
chapter
б
Factor Endowments and
Trade II: The Heckscher-Ohiin Model
95
6.1
If Technology Is Rigid
96
6.2
Flexible Technology
99
6.3
Possible Trade Patterns and the Distribution of Income
102
6.4
International Trade
with Many Commodities
106
6.5
How Concentrated Is Production?
108
6.6
Changing Comparative Advantage with Economic Growth
109
6.7
Heckscher-Ohlin Theory and Empirical Evidence
110
6.8
Summary
114
CHAPTER PROBLEMS
116
SUGGESTIONS FOR FURTHER READING
117
APPENDIX: The Production Box
118
chapter
7
Imperfect Competition,
Increasing Returns, and Product Variety
121
7.1
The Prevalence of Intra-lndustry Trade
122
7.2
Consumer Behavior and the Demand for Product Variety
123
7.3
Increasing Returns in Production
125
7.4
Summary
131
CHAPTER PROBLEMS
132
SUGGESTIONS FOR FURTHER READING
132
chapter
8
Resource Trade, Outsourcing,
and Product Fragmentation
133
8.1
Given Resources and Footloose Production Processes
134
8.2
Footloose Inputs: The Joint Role of
Comparative and Absolute Advantage
137
8.3
Outsourcing and the International Fragmentation of Production
8.4
Outsourcing and Advanced Country Wage Rates
144
8.5
Summary
147
CHAPTER PROBLEMS
148
SUGGESTIONS FOR FURTHER READING
148
chapter
9
International Factor Movements: Labor and Capital
151
9.1
Factor Movements, Efficiency, and Welfare
151
9.2
International Capital Movements: Selected Issues
154
9.3
Multinationals and Foreign Direct Investment
158
9.4
Summary
164
CHAPTER PROBLEMS
165
SUGGESTIONS FOR FURTHER READING
166
141
PART
ili
THE THEORY AND
PRACTIŒ
OF COMMERCIAL POLICY
167
chapter
10
Protection and the National Welfare
169
10.1
Protection by a Small Country
170
10.2
Protection by a Large Country
177
10.3
Taxing Trade: Domestic Welfare
178
10.4
Taxing Trade: World Welfare
179
10.5
Summary
181
CHAPTER PROBLEMS
181
SUGGESTIONS FOR FURTHER READING
182
APPENDIX: Tariffs and the Offer Curve
182
chapter
11
The
Política!
Economy of Protection
187
11.1
Protection as a Device for Raising Revenue
187
11.2
Commercial Policy as a Second-Best Device
189
11.3
Protection and Rent-Seeking Activities
192
11.4
Growth, Protection, and Welfare
197
11.5
Protection and Unemployment
200
11.6
Summary
200
CHAPTER PROBLEMS
201
SUGGESTIONS FOR FURTHER READING
201
chapter
12
Trade Policy and Imperfect Competition
203
12.1
Monopoly and the Gains from Trade
203
12.2
Cartels and the Interests of Producing and Consuming Countries
207
12.3
Monopoly and Policies of Exporting and Importing Countries
209
12.4
Intellectual Property Rights
218
12.5
Summary
220
CHAPTER PROBLEMS
221
SUGGESTIONS FOR FURTHER READING
222
APPENDIX: International Duopoly and National Strategy
223
chapter
13
Trade Controls in Practice
227
13.1
Tariffs: Levels and Trends
227
13.2
Multilateral Tariff Reduction
229
13.3
Devices for Special Protection
233
13.4 Special
Protection
in Action
236
13.5
Prospects for Special Protection
241
13.6
Summary
242
CHAPTER PROBLEMS
243
SUGGESTIONS FOR FURTHER READING
244
chapter
14
Preferential Arrangements
and Regional Issues in Trade Policy
245
14.1
Regional Preferences and Regional Trade
245
14.2
Welfare Effects of Trade Preferences
247
14.3
Preferential Arrangements in Practice
251
14.4
Trade Problems of the Economies in Transition
257
14.5
Trade and Growth: China and the Asian NICs
260
14.6
Preferential Arrangements: New Policy Issues
264
14.7
Summary
267
CHAPTER PROBLEMS
269
SUGGESTIONS FOR FURTHER READING
269
PART IV MONEY, INCOME, AND THE BALANCE OF PAYMENTS
271
chapter
15
The Balance of Payments Accounts
273
15.1
Breakdown of the Accounts
275
15.2
How Individual Transactions Are Recorded
278
15.3
Double-Entry Bookkeeping
280
15.4
The Balances
282
15.5
Statistical Errors in the Payments Accounts
286
15.6
Summary
288
CHAPTER PROBLEMS
288
chapter
16
The Foreign Exchange Market and Trade Elasticities
16.1
The Flow of Supply and Demand for Foreign Exchange
291
16.2
Empirical Effects of Devaluation on the Trade Balance
297
16.3
Summary
300
CHAPTER PROBLEMS
301
SUGGESTIONS FOR FURTHER READING
303
APPENDIX: Stability of the Foreign Exchange Market
303
291
chapter
17
National Income and the Trade Balance
307
17.1
The Small-Country Keynesian Model
307
17.2
The National Saving-Investment Identity
309
17.3
Multipliers
310
17.4
The Transfer Problem
314
17.5
For a Large Country: The Two-Country Keynesian Model
316
17.6
Summary
321
CHAPTER PROBLEMS
322
SUGGESTIONS FOR FURTHER READING
324
APPENDIX: The Two-Country Model in Graphical Form
324
chapter
18
Spending and the Exchange
Rate ¡n the Keynesian Model
327
18.1
Transmission of Disturbances
327
18.2
Expenditure-Switching and Expenditure-Reducing Policies
330
18.3
Monetary Factors
337
18.4
Summary
343
CHAPTER PROBLEMS
344
SUGGESTIONS FOR FURTHER READING
346
APPENDIX A: The Laursen-Metzler-Harberger Effect
346
APPENDIX B: The Assignment Problem
350
chapter
19
The Money Supply, the Price Level,
and the Balance of Payments
353
19.1
The Nonsterilization Assumption
353
19.2
The Purchasing Power Parity Assumption
358
19.3
Purchasing Power Parity in a Hyperinflation
369
19.4
PPP in the Model of the Balance of Payments
372
19.5
Summary
374
CHAPTER PROBLEMS
375
SUGGESTIONS FOR FURTHER READING
377
APPENDIX A: The Gold Standard
378
APPENDIX B: Reserve Flows After Spending Increase and Devaluation
382
APPENDIX C: The Determination of the Balance of
Payments in the Monetarist Model
384
chapter
20
Developing Countries and Other Small
Open Economies with Nontraded Goods
391
20.1
Nontraded Goods
392
20.2
Expenditure and the Relative Price of Nontraded Goods
20.3
The Monetary Approach with Nontraded Goods
401
20.4
Summary
407
CHAPTER PROBLEMS
407
SUGGESTIONS FOR FURTHER READING
408
395
PART V INTERNATIONAL FINANCIAL MARKETS
AND THEIR
MACROECONOMIC
IMPLICATIONS
chapter
21
The Globalization of Financial Markets
411
21.1
The Postwar Financial System
(1944-1973) 412
21.2
The Foreign Exchange Market
414
21.3
Liberalization
419
21.4
Innovation
426
21.5
Advantages of Financial Integration
435
21.6
Summary
439
CHAPTER PROBLEMS
439
SUGGESTIONS FOR FURTHER READING
440
APPENDIX: The Effect of a Budget Deficit
Under
Intertemporal
Optimization
441
chapter
22
The Mundell-Fleming Model with
Partial International Capital Mobility
445
22.1
The Model
447
22.2
Fiscal Policy and the Degree of
Capital Mobility Under Fixed Rates
450
22.3
Monetary Policy and the Degree of
Capital Mobility Under Fixed Rates
452
22.4
When Money Flows Are Not Sterilized
454
22.5
Other Automatic Mechanisms of Adjustment
456
22.6
The Pursuit of Internal and External Balance
457
22.7
Summary
460
409
CHAPTER PROBLEMS
461
SUGGESTIONS FOR FURTHER READING
461
APPENDIX: Zones of Internal and External Balance
461
chapter
23
Fiscal and Monetary Policy Under
Modern Financial Market Conditions
467
23.1
Fiscal Policy Under Floating:
An Effect Mitigated by Capital Mobility
468
23.2
Monetary Policy Under Floating:
An Effect Enhanced by Capital Mobility
474
23.3
Policy Under Perfect Capital Mobility
477
23.4
Summary
486
CHAPTER PROBLEMS
486
SUGGESTIONS FOR FURTHER READING
487
chapter
24
Crises in Emerging Markets
489
24.1
Inflows to Emerging Markets
489
24.2
Managing Outflows
498
24.3
Speculative Attacks
499
24.4
Contagion
504
24.5
IMF Country Programs
506
24.6
Contractionary Effects of Devaluation
510
24.7
Capital Controls
515
24.8
Reform of International Financial Architecture
518
24.9
Summary
520
CHAPTER PROBLEMS
521
SUGGESTIONS FOR FURTHER READING
522
chapter
25
Interdependence and Policy Coordination
525
25.1
International Transmission of Disturbances
Under Floating Exchange Rates
525
25.2
Econometric Models of the Interdependent World Economy
530
25.3
International Macroeconomic Policy Coordination
535
25.4
Summary
540
CHAPTER PROBLEMS
540
SUGGESTIONS FOR FURTHER READING
541
chapter
26
Supply and Inflation
543
26.1
The Aggregate Supply Relationship
543
26.2
Supply Relationship with Indexed Wages
551
26.3
Inflation
554
26.4
Alternative Anchors for a Country's Money
556
26.5
The Choice of Exchange Rate Regime
559
26.6
Summary
567
CHAPTER PROBLEMS
568
SUGGESTIONS FOR FURTHER READING
568
PART VI THE DETERMINATION OF EXCHANGE
RATES IN INTERNATIONAL ASSET MARKETS
571
chapter
27
Expectations, Money, and the
Determination of the Exchange Rate
573
27.1
Interest Rate Parity Conditions
573
27.2
The Monetary Model of Exchange Rates with Flexible Prices
575
27.3
Two Examples of the Importance of Expectations
585
27.4
Overshooting and the Real Exchange Rate
588
27.5
Two More Examples of the Importance of Expectations
599
27.6
Summary
603
CHAPTER PROBLEMS
604
SUGGESTIONS FOR FURTHER READING
605
chapter
28
Exchange Rate Forecasting and Risk
607
28.1
Forecasting the Spot Exchange Rate
607
28.2
The Role of Exchange Risk
612
28.3
Portfolio Balance Effects on the Exchange Rate
616
28.4
Summary
620
CHAPTER PROBLEMS
621
SUGGESTIONS FOR FURTHER READING
622
PART
VII
SUPPLEMENTS FOR SELECTED CHAPTERS S-1
SUPPLEMENT TO CHAPTER
2:
The Equations of Exchange Equilibrium S-3
SUPPLEMENT TO CHAPTER
3:
Stability and Comparative Statics
in the Basic Trade Model S-1
0
SUPPLEMENT
TO CHAPTER
5:
The Specific-Factors Model of Production S-17
SUPPLEMENT TO CHAPTER
6:
The Two-Sector Heckscher-Ohlin Model S-22
SUPPLEMENT TO CHAPTER
10:
Real Incomes, Prices, and the Tariff S-27
SUPPLEMENT TO CHAPTER
11 :
Tariffs, Growth, and Welfare S-33
SUPPLEMENT TO CHAPTER
12:
Imperfect Competition,
Trade Restrictions, and Welfare S-39
SUPPLEMENT TO CHAPTER
16:
Import and Export Elasticities S-43
SUPPLEMENT TO CHAPTER
19:
The Monetarist Two-Country Model
of the Balance of Payments S-44
SUPPLEMENT TO CHAPTER
24:
Debt Dynamics S-47
SUPPLEMENT TO CHAPTER
25:
The Locomotive Theory S-48
SUPPLEMENT TO CHAPTER
26:
Real Wage Indexation S-50
SUPPLEMENT TO CHAPTER
27:
The Monetary Model of the Exchange Rate S-51
SUPPLEMENT TO CHAPTER
28:
The Optimally Diversified Portfolio S-55
index
1-1 |
any_adam_object | 1 |
any_adam_object_boolean | 1 |
author | Caves, Richard E. 1931-2019 Frankel, Jeffrey A. 1952- Jones, Ronald Winthrop 1931-2022 |
author_GND | (DE-588)12919798X (DE-588)124551858 (DE-588)119128020 |
author_facet | Caves, Richard E. 1931-2019 Frankel, Jeffrey A. 1952- Jones, Ronald Winthrop 1931-2022 |
author_role | aut aut aut |
author_sort | Caves, Richard E. 1931-2019 |
author_variant | r e c re rec j a f ja jaf r w j rw rwj |
building | Verbundindex |
bvnumber | BV022278970 |
callnumber-first | H - Social Science |
callnumber-label | HF1379 |
callnumber-raw | HF1379 |
callnumber-search | HF1379 |
callnumber-sort | HF 41379 |
callnumber-subject | HF - Commerce |
classification_rvk | QM 000 |
ctrlnum | (OCoLC)67392884 (DE-599)BVBBV022278970 |
dewey-full | 382 |
dewey-hundreds | 300 - Social sciences |
dewey-ones | 382 - International commerce (Foreign trade) |
dewey-raw | 382 |
dewey-search | 382 |
dewey-sort | 3382 |
dewey-tens | 380 - Commerce, communications, transportation |
discipline | Wirtschaftswissenschaften |
discipline_str_mv | Wirtschaftswissenschaften |
edition | 10. ed., internat. ed. |
format | Book |
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genre_facet | Einführung |
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illustrated | Illustrated |
index_date | 2024-07-02T16:48:46Z |
indexdate | 2024-07-09T20:53:59Z |
institution | BVB |
isbn | 0321248554 9780321248558 0321226607 |
language | English |
lccn | 2006013259 |
oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-015489316 |
oclc_num | 67392884 |
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physical | getr. Zählung graph. Darst. |
publishDate | 2007 |
publishDateSearch | 2007 |
publishDateSort | 2007 |
publisher | Addison Wesley |
record_format | marc |
series2 | The Addison-Wesley series in economics |
spelling | Caves, Richard E. 1931-2019 Verfasser (DE-588)12919798X aut World trade and payments an introduction Richard E. Caves ; Jeffrey A. Frankel ; Ronald W. Jones 10. ed., internat. ed. Boston ; Munich [u.a.] Addison Wesley 2007 getr. Zählung graph. Darst. txt rdacontent n rdamedia nc rdacarrier The Addison-Wesley series in economics Incl. bibliogr. references and index International trade Balance of payments Commercial policy Weltwirtschaft (DE-588)4065468-0 gnd rswk-swf Welthandel (DE-588)4065365-1 gnd rswk-swf Zahlungsbilanz (DE-588)4067281-5 gnd rswk-swf Zahlungsbilanztheorie (DE-588)4124487-4 gnd rswk-swf 1\p (DE-588)4151278-9 Einführung gnd-content Welthandel (DE-588)4065365-1 s Zahlungsbilanz (DE-588)4067281-5 s Weltwirtschaft (DE-588)4065468-0 s DE-604 Zahlungsbilanztheorie (DE-588)4124487-4 s 2\p DE-604 Frankel, Jeffrey A. 1952- Verfasser (DE-588)124551858 aut Jones, Ronald Winthrop 1931-2022 Verfasser (DE-588)119128020 aut http://www.loc.gov/catdir/toc/ecip0612/2006013259.html Inhaltsverzeichnis Digitalisierung UB Passau application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=015489316&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis 1\p cgwrk 20201028 DE-101 https://d-nb.info/provenance/plan#cgwrk 2\p cgwrk 20201028 DE-101 https://d-nb.info/provenance/plan#cgwrk |
spellingShingle | Caves, Richard E. 1931-2019 Frankel, Jeffrey A. 1952- Jones, Ronald Winthrop 1931-2022 World trade and payments an introduction International trade Balance of payments Commercial policy Weltwirtschaft (DE-588)4065468-0 gnd Welthandel (DE-588)4065365-1 gnd Zahlungsbilanz (DE-588)4067281-5 gnd Zahlungsbilanztheorie (DE-588)4124487-4 gnd |
subject_GND | (DE-588)4065468-0 (DE-588)4065365-1 (DE-588)4067281-5 (DE-588)4124487-4 (DE-588)4151278-9 |
title | World trade and payments an introduction |
title_auth | World trade and payments an introduction |
title_exact_search | World trade and payments an introduction |
title_exact_search_txtP | World trade and payments an introduction |
title_full | World trade and payments an introduction Richard E. Caves ; Jeffrey A. Frankel ; Ronald W. Jones |
title_fullStr | World trade and payments an introduction Richard E. Caves ; Jeffrey A. Frankel ; Ronald W. Jones |
title_full_unstemmed | World trade and payments an introduction Richard E. Caves ; Jeffrey A. Frankel ; Ronald W. Jones |
title_short | World trade and payments |
title_sort | world trade and payments an introduction |
title_sub | an introduction |
topic | International trade Balance of payments Commercial policy Weltwirtschaft (DE-588)4065468-0 gnd Welthandel (DE-588)4065365-1 gnd Zahlungsbilanz (DE-588)4067281-5 gnd Zahlungsbilanztheorie (DE-588)4124487-4 gnd |
topic_facet | International trade Balance of payments Commercial policy Weltwirtschaft Welthandel Zahlungsbilanz Zahlungsbilanztheorie Einführung |
url | http://www.loc.gov/catdir/toc/ecip0612/2006013259.html http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=015489316&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
work_keys_str_mv | AT cavesricharde worldtradeandpaymentsanintroduction AT frankeljeffreya worldtradeandpaymentsanintroduction AT jonesronaldwinthrop worldtradeandpaymentsanintroduction |
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