Holdings: Global economics :: THWS Bibkatalog

Global economics:

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Bibliographic Details
Main Author:	Carbaugh, Robert J. (Author)
Format:	Book
Language:	English
Published:	[S.l.] South-Western Cengage Learning 2011
Edition:	13. ed., International ed.
Subjects:	Welthandel Weltwirtschaft Lehrbuch
Online Access:	Inhaltsverzeichnis
Item Description:	12. Aufl. u.d.T.: International economics
Physical Description:	XX, 602 S. graph. Darst.
ISBN:	9781439040447 1439040443

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adam_text	Titel: Global economics Autor: Carbaugh, Robert J. Jahr: 2011 Preface ........................................................................................xv CHAPTER 1 The International Economy and Globalization ....................................... 1 Globalization of Economic Activity.................. 2 Dell Sells Factories in Effort to Slash Costs .... 17 Waves of Globalization ................................. 3 Common Fallacies of International Trade........ 18 First Wave of Globalization: 1870-1914......... 4 Does Free Trade Apply to Cigarettes?............. 19 Second Wave of Globalization: 1945-1980...... 4 Is International Trade an Opportunity Latest Wave of Globalization ...................... 5 or a Threat to Workers?.............................. 20 The United States as an Open Economy ........... 7 Backlash Against Globalization ..................... 22 Trade Patterns 7 Terrorism lofts the Global Economy .............. 24 Labor and Capital................................... 10 Competition in the World Steel Industry ................................................ 25 Why Is Globalization Important? .................. 11 The Global Recession of 2007-2009 ........... 12 The Plan of this Text.................................. 26 Summary ................................................. 26 Globalization: Increased Competition From Abroad................................................. 16 Key Concepts Terms ............................... 27 Bicycle Imports Force Schwinn to Downshift .. 16 Study Questions ........................................ 27 PART 1: International Trade Relations 29 CHAPTER 2 Foundations of Modern Trade Theory: Comparative Advantage............ 31 Historical Development of Modern Production Gains from Specialization........... 39 Trade Theory............................................ 31 Consumption Gains from Trade.................. 40 The Mercantilists .................................... 31 Distributing the Gains from Trade .............. 42 Why Nations Trade: Absolute Advantage...... 32 Equilibrium Terms of Trade ...................... 43 Why Nations Trade: Comparative BaDe Ruth and the Principle of Advantage.............................................34 Comparative Advantage........................... 44 David Ricardo......................................... 36 Terms-of-Trade Estimates.......................... 44 Production Possibilities Schedules.................. 37 Dynamic Gains From Trade......................... 45 Trading Under Constant-Cost Conditions ....... 38 How Global Competition Led to Productivity Basis for Trade and Direction of Trade ........ 38 Gains for U.S. Iron Ore Workers................. 46 Changing Comparative Advantage................. 47 Does Comparative Advantage Apply in the Trading Under Increasing-Cost Face of Job Outsourcing?............................. 58 Conditions ............................................... 49 Advantages of Outsourcing........................ 58 Increasing-Cost Trading Case.....................50 Outsourcing of Boeing 787 Dreamliner Triggers Machinist s Strike........................ 60 Partial Specialization ............................... 52 The Impact of Trade on lobs........................ 52 Outsourcing and the U.S. Automobile Industry................................................ 61 Comparative Advantage Extended to Many Burdens of Outsourcing ............................61 Products and Countries............................... 53 Some U.S. Manufacturers Prosper by Keeping Production in the United States ..................62 Summary ................................................. 63 Key Concepts Terms ............................... 64 More Than Two Products ......................... 54 More Than Two Countries ........................ 55 Exit Barriers ............................................. 55 Empirical Evidence on Comparative Advantage................................................ 56 Study QueStionS ........................................ 64 Exploring Further ...................................... 67 CHAPTER 3 Sources of Comparative Advantage.................................................... 79 Factor Endowments as a Source of Intra-industry Trade.................................. 101 Comparative Advantage .............................. 79 Technology as a Source of Comparative The Factor-Endowments Theory.................. 80 Advantage: The Product Cycle Theory........... 103 Visualizing the Factor-Endowment Radios, Pocket Calculators, and the Theory.................................................. 82 International Product Cycle ..................... 105 Applying the Factor-Endowment Theory Dynamic Comparative Advantage: to U.S.-China Trade ................................ 83 Industrial Policy ....................................... 106 Factor-Price Equalization .......................... 84 Government Subsidies Support Boeing Who Gains and Loses From Trade? and Airbus .............................................. 108 The Stolper-Samuelson Theorem ................. 86 Government Regulatory Policies and Globalization Drives Changes for Comparative Advantage ............................. 109 U.S. Automakers ..................................... 88 Transportation Costs and Comparative Is International Trade a Substitute Advantage............................................... 111 for Migration?........................................ 90 Trade Effects........................................ 111 Specific Factors: Trade and the Distribution Falling Transportation Costs Foster of Income in the Short Run .......................91 Trade Boom......................................... 113 Does Trade Make the Poor Even Poorer?........ 92 Rising Energy Costs Hinder Trade Does a Flat World Make Ricardo Flows.................................................. 114 Wrong? ................................................. 94 Terrorist Attack Results in Added Costs and Skill as a Source of Comparative Advantage .... 95 Slowdowns for U.S. Freight System: A New Kind of Trade Barrier? ................. 115 Increasing Returns to Scale and Comparative Advantage................................................ 97 Summary ................................................ 117 External Economies of Scale and Comparative KeY Concepts Terms .............................. 118 Advantage................................................ 99 Study Questions ....................................... 118 Overlapping Demands as a Basis for Trade..... 100 Exploring Further ..................................... 120 CHAPTER 4 Tariffs............................................................................................. 123 The Tariff Concept ................................... 124 Tariff Welfare Effects: Large-Nation Model..... 143 Types of Tariffs........................................ 125 The Optimum Tariff and Retaliation ......... 146 Specific Tariff....................................... 125 Gains from Eliminating Import Ad Valorem Tariff................................. 126 Tariffs ................................................. 147 Compound Tariff.................................. 126 How a Tariff Burdens Exporters................... 147 Effective Rate of Protection ......................... 127 Steel Tariffs BuY Time for Troubled Tariff Escalation ....................................... 129 Industry.................................................. 150 Tariffs and the Poor .................................. 151 Outsourcing and Offshore-Assembly Provision 131 Arguments for Trade Restrictions................. 152 Dodging Import Tariffs: Tariff Avoidance Job Protection....................................... 153 and Tariff Evasion .................................... 132 Protection Against Cheap Foreign Labor..... 154 Ford Strips Its Wagons to Avoid Fairness in Trade: A Level Playing Field ..... 155 High 1 ariff.......................................... 132 Maintenance of the Domestic Standard Smuggled Steel Evades U.S. Tariffs............. 133 of Living ............................................. 156 Postponing Import Tariffs .......................... 134 Equalization of Production Costs .............. 157 Bonded Warehouse................................ 134 Infant-Industry Argument ....................... 157 Foreign-Trade Zone ............................... 134 Noneconomic Arguments......................... 157 FTZ s Benefit Motor Vehicle Importers ....... 136 Petition of the Candle Makers ................. 159 Tariff Effects: An Overview......................... 136 The Political Economy of Protectionism ...... 159 Tariff Welfare Effects: Consumer Surplus A Supply and Demand View of and Producer Surplus ................................ 137 Protectionism ....................................... 161 Tariff Welfare Effects: Small-Nation Model..... 139 Summary ................................................ 162 Trade Protectionism Intensifies Key Concepts 8c Terms .............................. 163 as Global Economy Falls Study Questions ....................................... 163 into Recession ...................................... 140 Exploring Further ..................................... 166 CHAPTER 5 Nontariff Trade Barriers ................................................................... 169 Import Quota .......................................... 169 Japanese Auto Restraints Put Brakes on Trade and Welfare Effects ....................... 170 U.S. Motorists ...................................... 178 Allocating Quota Licenses........................ 173 Domestic Content Requirements .................. 179 Quotas Versus Tariffs ................................ 173 Subsidies................................................. 180 Tariff-Rate Quota: A Two-Tier Tariff............ 175 Domestic Production Subsidy ................... 180 Sugar Tariff-Rate Quota Bittersweet How Foreign Is Your Car? .................... 182 for Consumers ...................................... 176 Export Subsidy ..................................... 183 Export Quotas.......................................... 177 Dumping ................................................ 184 Forms of Dumping ................................ 184 Are Antidumping Duties Overused? ........... 192 International Price Discrimination ............ 184 Other Nontariff Trade Barriers .................... 192 Antidumping Regulations ........................... 187 Government Procurement Policies ............. 193 Smith Corona Finds Antidumping U.S. Fiscal Stimulus and Buy American Victories Are Hollow.............................. 188 Legislation ........................................... 194 Canadians Press Washington Apple Social Regulations.................................. 194 Producers for Level Playing Field .............. 188 Sca Transport ami Frejght Swimming Upstream: The Case of Regulations.......................................... 196 Vietnamese Catfish................................ 189 Summary ................................................ 197 Is Antidumping Law Unfair? ....................... 190 Key Concepts Terms .............................. 198 Should Average Variable Cost Be the Study Questions 198 Yardstick for Defining Dumping? .............. 190 Should Antidumping Law Reflect Currency Fluctuations?........................................ 191 Exploring Further ..................................... 201 CHAPTER 6 Trade Regulations andh Industrial Policies .......................................... 207 U.S. Tariff Policies Before 1930 .................... 207 U.S. Safeguards Limit Surging Imports Smoot-Hawley Act .................................... 208 of Textiles from China............................ 225 Reciprocal Trade Agreements Act................. 210 Countervailing Duties: Protection Against Foreign Export Subsidies ............................ 226 General Agreement on Tariffs and Trade ....... 210 Trade Without Discrimination ................. 211 Lumber Duties Hammer Home Buyers ....... 227 Antidumping Duties: Protection Against Promoting Freer Trade ........................... 212 Fordgn Dumping ..................................... 227 Predictability: Through Binding Remedies Against Dumped and and Transparency ................................. 213 Subsidized Imports ................................ 229 Multilateral Trade Negotiations ................ 213 U.S. Steel Companies Lost an Unfair World Trade Organization.......................... 215 Trade Case and Still Win........................ 231 Settling Trade Disputes........................... 216 Section 301: Protection Against Unfair Does the WTO Reduce National Trading Practices ...................................... 232 Sovereignty? ......................................... 217 Protection of Intellectual Property Rights ....... 233 Should Retaliatory Tariffs Be Used for Trade Adjustment Assistance....................... 235 ................................ Will Wage and Health Insurance Make Free Does the WTO Harm the Trade More Acceptable to Workers? ............. 236 Industrial Policies of the United States........... 238 Export Promotion and Financing .............. 239 Environment?....................................... 219 Burning Rubber: Obama s Tire Tariff Ignites Chinese Officials ......................... 221 Industrial Policies of Japan.......................... 240 From Doha To Hong Kong: Failed Trade Negotiations ............................................ 222 Strategic Trade Policy ................................ 241 Economic Sanctions .................................. 243 Trade Promotion Authority (Fast-Track Authority) ...... Safeguards (The Escape Clai Protection From Imports............................ 223 (Fast-Track Authority) ............................... 223 Factors Influencing the Success Safeguards (The Escape Clause): Emergency of Sanctions ......................................... 245 Economic Sanctions and Weapons of Mass Key Concepts Terms .............................. 248 Destruction: North Korea and Iran............ 245 Do Automaker Subsidies Weaken the WTO? ............................................ 247 Summary ................................................ 247 Study Questions ....................................... 249 Exploring Further ..................................... 251 CHAPTER 7 Trade Policies for the Developing Nations......................................... 255 Developing-Nation Trade Characteristics........ 255 Does Aid Promote Growth of Tensions Between Developing and Advanced Developing Nations?............................... 277 Nations .................................................. 257 How to Bring Developing Nations in Trade Problems of the Developing Nations..... 258 From the Cold...................................... 277 Unstable Export Markets......................... 258 Economic Growth Strategies: Import Substitution Versus Export-Led Falling Commodity Prices Threaten Growth of Exporting Nations................... 259 Import Substitution ............................... 279 Worsening Terms of Trade ...................... 260 Import-Substitution Laws Backfire on Brazil............................................. 280 Limited Market Access............................ 262 Agricultural Export Subsidies of Export-Led Growth................................ 281 Advanced Nations ................................. 264 Is Economic Growth Good for Stabilizing Primary-Product Prices................ 265 the Poor?............................................. 283 Production and Export Controls................ 265 Can All Developing Nations Achieve Buffer Stocks ........................................ 266 Export-Led Growth?............................... 283 Multilateral Contracts ............................ 267 East Asian Economies................................ 284 Does the Fair-Trade Movement Help Flying-Geese Pattern of Growth ................ 285 Poor Cofffee Farmers? 268 JJ .............................. China s Transformation to Capitalism ........... 286 The OPEC Oil Cartel................................. 269 China s Export Boom Comes at a Cost: Maximizing Cartel Profits ....................... 269 How to Makee Factories Play Fair.............. 288 OPEC as a Cartel.................................. 271 poes Foreign Direct Investment Are International Labor Standards Hinder or Help Economic Needed to Prevent Social Dumping? ........ 272 Development? ...................................... 289 Aiding the Developing Nations .................... 273 India: Breaking Out of the Third World ........ 290 The World Bank................................... 273 Summary ................................................ 292 International Monetary Fund................... 275 Key Concepts Terms .............................. 293 Generalized System of Preferences ............. 276 Study Questions ....................................... 293 CHAPTER 8 Regional Trading Arrangements ....................................................... 295 Regional Integration Versus Missing Benefits: The United States Multilateralism......................................... 295 Falls Behind on Trade Types of Regional Trading Liberalization ....................................... 298 Arrangements .......................................... 296 Impetus for Regionalism............................. 299 Effects of a Regional Trading Arrangement..... 299 NAFTA s Benefits and Costs for Mexico Static Effects ........................................ 300 and Canada......................................... 317 Did the United Kingdom (UK) Gain from NAFTA s Benefits and Costs for the Entering the European Union?.................. 302 United States........................................ 318 Dynamic Effects .................................... 302 NAFTA and Trade Diversion: Textiles and Apparel......................................... 321 The European Union................................. 304 rr Pursuing Economic Integration................. 304 Is NAFTA an Optimum Currency Area?..... 322 French and Dutch Voters Sidetrack Integration .......................................... 306 From NAFTA to CAFTA........................... 323 Free Trade Area of the Americas.................. 324 Agricultural Policy................................. 307 Asia-Pacific Economic Cooperation............... 326 Economic Costs and Benefits of a Common Transition Economies ................................ 326 Currency: The European Monetary Union...... 310 The Transition Toward a Market-Oriented Optimum Currency Area ........................ 311 Economy............................................. 327 Europe as a Suboptimal Currency Area ...... 312 Russia and the World Trade Challenges for the EMU.......................... 313 Organization........................................ 329 The Euro, Ten Years Later: How Has Summary................................................ 330 It Performed? ....................................... 314 Key Concepts Terms .............................. 331 Does the Eurozone Need a Bailout Fund?.... 314 Study Questions ....................................... 332 North American Free Trade Agreement......... 316 Exploring Further ..................................... 333 CHAPTER 9 International Factor Movements and Multinational Enterprises........... 339 The Multinational Enterprise....................... 339 Multinational Enterprises as a Source Motives for Foreign Direct Investment .......... 341 of Conflict............................................... 355 Demand Factors ................................... 342 Employment......................................... 355 Do U.S. Multinationals Exploit Technology Transfer............................... 356 Foreign Workers? .................................. 343 National Sovereignty.............................. 358 Cost Factors......................................... 344 Balance of Payments.............................. 359 Supplying Products to Foreign Buyers: Transfer Pricing.................................... 359 Whether to Produce Domestically Does the U.S. Tax Code Send American or Abroad ............................................... 345 Jobs offshore?...................................... 360 Direct Exporting versus Foreign Direct International Labor Mobility: Migration......... 361 Investment/Licensing.............................. 345 The Effects of Migmtion ......................... 361 Foreign Direct Investment versus Licensing............................................. 346 Immigration as an Issue ......................... 364 Does U.S. Immigration Policy Harm Country Risk Analysis ............................... 348 Domestic Workers?................................ 366 International Trade Theory and Reall Hurt American Multinational Enterprise............................. 349 Worker/Wages?................................... 367 fapanese Transplants in the U.S. Automobile Industry.................................................. 350 Summary ................................................ 3 International Joint Ventures ........................ 351 Key ConceptS TermS .............................. 368 Welfare Effects...................................... 353 StudY Questions ....................................... 368 PART 2: International Monetary Relations 371 CHAPTER 10 The Balance of Payments................................................................. 373 Double-Entry Accounting ........................... 373 Is a Current Account Deficit a Problem?..... 386 International Payments Process ............... 375 Business Cycles, Economic Growth, Balance-of-Payments Structure..................... 376 and the Current Account ........................ 387 Current Account ................................... 376 Capital and Financial Account................. 377 Economic Downturn of 2007-2009: Effect on Foreign Investment in the United States............................... 388 Statistical Discrepancy: Errors How the United States Has Borrowed and Omissions...................................... 379 at Very Low Cost.................................. 389 Do Current Account Deficits Cost The Paradox of Capital Flows Americans Jobs?.................................... 390 U.S. Balance of Payments ........................... 380 from Developing to Industrial Countries............................................. 382 What Does a Current Account Deficit (Surplus) Mean? ....................................... 384 Can the United States Continue to Run Current Account Deficits Indefinitely? ........ 391 Balance of International Indebtedness............ 393 United States as a Debtor Nation.............. 395 Net Foreign Investment and the Current Account Balance ................................... 384 Summary ................................................ 395 Impact of Capital Flows on the KeY Concepts 8c Terms .............................. 396 Current Account ................................... 385 Study Questions ....................................... 396 CHAPTER 11 Foreign Exchange ........................................................................... 399 Foreign-Exchange Market ........................... 399 Arbitrage ................................................ 415 Types of Foreign-Exchange The Forward Market ................................. 417 Transactions ............................................ 401 The Forward Rate ................................. 417 Interbank Trading..................................... 403 Relation Between the Forward Rate Reading Foreign-Exchange Quotations........... 405 and Spot Rate ...................................... 418 Forward and Futures Markets...................... 407 Managing Your Foreign Exchange Risk: Foreign-Currency Options .......................... 409 Forward Foreign-Exchange Contract .......... 419 Exchange-Rate Determination...................... 410 How Markel Rides Foreign-Exchange Fluctuations......................................... 421 Volkswagen Hedges Against Foreign-Exchange Risk............................ 422 Demand for Foreign Exchange.................. 410 Weak Dollar Is a Bonanza for European Tourists ................................. 411 Does Foreign-Currency Hedging Supply of Foreign Exchange ..................... 411 Equilibrium Rate of Exchange .................. 412 Pay Off?.............................................. 422 Exchange-Rate Risk: The Hazard of Indexes of the Foreign-Exchange Value of Investing Abroad .................................. 424 the Dollar: Nominal and Real Exchange Rates ........................................ 413 Interest Arbitrage...................................... 424 Uncovered Interest Arbitrage.................... 425 Foreign Exchange Traders Hired by Covered Interest Arbitrage....................... 426 Commercial Banks, Companies, and Central Banks ................................ 430 Foreign-Exchange Market Speculation 427 Currency Markets Draw Day Traders ........ 430 How to Play the Falling (Rising) Summary ................................................ 431 Dollar ................................................. 429 Key Concepts Terms .............................. 432 Foreign Exchange Trading as Study Questions ....................................... 432 Exploring Further ..................................... 435 a Career.................................................. 429 CHAPTER 12 Exchange-Rate Determination .......................................................... 443 What Determines Exchange Rates? ............... 443 Diversification, Safe Havens, and Determining Long-Term Exchange Rates ....... 445 Investment Flows .................................. 459 Relative Price Levels............................... 446 The UPS and Downs of the Dollar................ 459 Relative Productivity Levels...................... 446 Preferences for Domestic or Foreign The 1980s............................................ 459 The 1990s............................................ 460 Goods................................................. 446 The First Decade of the 2000s .................. 461 Trade Barriers...................................... 448 Exchange-Rate Overshooting ....................... 461 Inflation Rates, Purchasing Power Parity, Forecasting Foreign-Exchange Rates.............. 463 and Long-Term Exchange Rates................... 448 Judgmental Forecasts.............................. 464 Law of One Price .................................. 448 Technical Forecasts................................ 464 The Big Mac Index and the Law of Fundamental Analysis............................ 466 0ne Pnce............................................ 449 International Comparisons of GDP: Purchasing Power Parity......................... 450 Purchasing Power Parity......................... 467 Determining Short-Term Exchange Rates: Comercial Mexicana Gets Burned The Asset-Market Approach........................ 453 By Speculation ..................................... 468 Inflation Differentials and the Summary................................................ 468 Exchange Rate...................................... 454 Key Concepts Terms .............................. 469 Relative Levels of Interest Rates ................ 455 Expected Change in the Exchange Rate....... 458 Study Questions ....................................... 469 Exploring Further ..................................... 471 CHAPTER 13 Mechanisms of International Adjustment .......................................... 473 Price Adjustments..................................... 474 Disadvantages of Automatic Adjustment Gold Standard...................................... 474 Mechanisms ............................................ 479 Quantity Theory of Money ...................... 474 Monetary Adjustments............................... 479 Current-Account Adjustment ................... 475 Summary ................................................ 480 Financial Flows and Interest-Rate Key Concepts Terms .............................. 480 Differentials............................................. 476 Study Questions ....................................... 480 Income Adjustments.................................. 478 Exploring Further ..................................... 481 CHAPTER 14 Exchange-Rate Adjustments and the Balance of Payments ................. 485 Effects of Exchange-Rate Changes on Partial Exchange Rate Pass-Through.......... 497 Costs and Prices ....................................... 485 Invoice Practices ................................... 498 Japanese Firms Outsource Production Market Share Considerations ................... 498 Distribution Costs ................................. 499 to Limit Effects of Strong Yen ................. 488 Cost-Cutting Strategies of Manufacturers in Why a Dollar Depreciation May Not Response to Currency Appreciation .............. 489 The Absorption Approach to Currency Depreciation............. 500 Appreciation of the Yen: Japanese The Absorption Approach to Currency Manufacturers...................................... 489 Depreciation ............................................ 500 Appreciation of the Dollar: U.S. The Monetary Approach to Currency Manufacturers...................................... 491 Will Currency Depreciation Reduce a Trade Deficit? The Elasticity Approach.......... 491 I-Curve Effect: Time Path of Depreciation ............................................ 502 Summary ................................................ 502 Key Concepts 8c Terms .............................. 503 Depreciation ............................................ 495 StudY Questions ....................................... 503 Exchange Rate Pass-Through....................... 497 Exploring Further ..................................... 505 CHAPTER 15 Exchange-Rate Systems and Currency Crises ..................................... 507 Exchange-Rate Practices ............................. 507 Exchange-Rate Stabilization and Choosing an Exchange Rate System: Constraints Monetary Policy.................................... 522 Imposed by Free Capital Flows .................... 508 Is Exchange-Rate Stabilization Effective? ..... 524 Fixed Exchange-Rate System ....................... 510 The Crawling Peg ..................................... 525 Use of Fixed Exchange Rates.................... 510 Currency Crises........................................ 526 Par Value and Official Exchange Rate........ 511 Sources of Currency Crises....................... 528 Exchange-Rate Stabilization ..................... 512 Speculators Attack East Asian Currencies .... 530 Devaluation and Revaluation ................... 513 Capital Controls ....................................... 530 Bretton Woods System of Fixed Should Foreign-Exchange Transactions Exchange Rates..................................... 515 Be Taxed? ........................................... 531 Is China a Currency Increasing the Credibility of Fixed Manipulator?........................................ 516 Exchange Rates ........................................ 532 Floating Exchange Rates............................. 517 Currency Board .................................... 533 Achieving Market Equilibrium.................. 517 For Argentina, No Panacea in a Trade Restrictions, Jobs, and Floating Currency Board .................................... 535 Exchange Rates..................................... 519 Dollarization........................................ 535 Arguments for and Against The Global Economic Crisis of Floating Rates ...................................... 519 2007-2009........................................... 538 Managed Floating Rates ............................. 520 Summary ................................................ 539 Managed Floating Rates in the Short Key Concepts Terms .............................. 540 andLongTerms ................................... 521 Study Questions ....................................... 540 CHAPTER 16 Macroeconomic Policy in an Open Economy ..................................... 541 Economic Objectives of Nations................... 541 Macroeconomic Stability and the Policy Instruments 542 Current Account: Policy Agreement Versus Aggregate Demand and Aggregate Supply: Policy Conflict ......................................... 550 A Brief Review 542 Inflation With Unemployment..................... 551 Monetary and Fiscal Policy Respond to International Economic-Policy Financial Turmoil in the Economy ............ 543 Coordination ........................................... 552 Monetary and Fiscal Policy in a G 20 Agrees to Cooperate on Global Closed Economy....................................... 544 Economic Policy: International Policy Coordination ........................................ 553 Monetary and Fiscal Policy in an Open Economy 546 Policy Coordination in Theory.................. 554 Does Crowding Occur in an Does Policy Coordination Work?............... 555 Open Economy?.................................... 547 Summary................................................ 556 Effect of Fiscal and Monetary Policy Under Key Concepts Terms .............................. 557 Fixed Exchange Rates............................. 548 Study Questions ....................................... 557 Effect of Fiscal and Monetary Policy Under Floating Exchange Rates ......................... 549 CHAPTER 17 International Banking: Reserves, Debt, and Risk................................. 559 Nature of International Reserves .................. 559 IMF Drawings...................................... 571 Demand for International Reserves ............... 560 General Arrangements to Borrow.............. 571 Exchange-Rate Flexibility ........................ 560 Swap Arrangements ............................... 572 Other Determinants ............................... 562 International Lending Risk.......................... 572 Supply of International Reserves................... 563 The Problem of International Debt ............... 573 Foreign Currencies.................................... 563 Dealing with Debt-Servicing Should SDRs Replace the Dollar as Difficulties........................................... 574 the World s Reserve Currency? ................ 564 Reducing Bank Exposure to Developing- Gold ...................................................... 567 Nation Debt ............................................ 575 International Gold Standard.................... 567 Debt Reduction and Debt Forgiveness ........... 576 Gold Exchange Standard......................... 568 The Eurodollar Market............................... 577 Demonetization of Gold.......................... 569 Summary ................................................ 578 Special Drawing Rights .............................. 570 KeY Concepts Terms .............................. 578 Facilities for Borrowing Reserves .................. 570 Study Questions ....................................... 579 Glossary .................................................................................... 581 Index ........................................................................................ 593
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genre_facet	Lehrbuch
id	DE-604.BV036783658
illustrated	Illustrated
indexdate	2024-07-09T22:48:00Z
institution	BVB
isbn	9781439040447 1439040443
language	English
oai_aleph_id	oai:aleph.bib-bvb.de:BVB01-020700211
oclc_num	705979259
open_access_boolean
owner	DE-92 DE-2070s DE-739
owner_facet	DE-92 DE-2070s DE-739
physical	XX, 602 S. graph. Darst.
publishDate	2011
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publishDateSort	2011
publisher	South-Western Cengage Learning
record_format	marc
spelling	Carbaugh, Robert J. Verfasser aut Global economics Robert J. Carbaugh 13. ed., International ed. [S.l.] South-Western Cengage Learning 2011 XX, 602 S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier 12. Aufl. u.d.T.: International economics Welthandel (DE-588)4065365-1 gnd rswk-swf Weltwirtschaft (DE-588)4065468-0 gnd rswk-swf (DE-588)4123623-3 Lehrbuch gnd-content Weltwirtschaft (DE-588)4065468-0 s DE-604 Welthandel (DE-588)4065365-1 s HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=020700211&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis
spellingShingle	Carbaugh, Robert J. Global economics Welthandel (DE-588)4065365-1 gnd Weltwirtschaft (DE-588)4065468-0 gnd
subject_GND	(DE-588)4065365-1 (DE-588)4065468-0 (DE-588)4123623-3
title	Global economics
title_auth	Global economics
title_exact_search	Global economics
title_full	Global economics Robert J. Carbaugh
title_fullStr	Global economics Robert J. Carbaugh
title_full_unstemmed	Global economics Robert J. Carbaugh
title_short	Global economics
title_sort	global economics
topic	Welthandel (DE-588)4065365-1 gnd Weltwirtschaft (DE-588)4065468-0 gnd
topic_facet	Welthandel Weltwirtschaft Lehrbuch
url	http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=020700211&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA
work_keys_str_mv	AT carbaughrobertj globaleconomics

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