International Monetary Economics (Hardcover) (ISBN-13: 9780195094947)

International Monetary Economics presents a brief introduction to the major topics of the subject area together with an analytical framework that is designed to facilitate a better understanding of international monetary economics. The text concentrates on concepts and relationships involving exchange rates and balance-of-payments magnitudes; the construction and manipulation of a small but versatile model of exchange rate and balance-of-payments behavior; and the description of current and prospective arrangements for multicountry cooperation in Europe and elsewhere. These broad topics are arranged in three main parts. In Part I the author presents basic concepts and a historical perspective on the US and global economy, with emphasis on the evolution of international monetary institutions since 1800. Part II introduces the basic analytical model -- usable with fixed and floating exchange rates, in which capital mobility is complete, real exchange rates are variable, and investment spending is endogenous. In addition, there is a relatively long chapter devoted to dynamic analysis with rational expectations. And finally, Part III contains three chapters on policy, including a full chapter on the European Monetary System, making this text ideal for both economic and finance courses that specifically focus on international economics.

Author: Bennett T. McCallum
ISBN-10: 0195094948
ISBN-13: 9780195094947
Publisher: Oxford University Press
Language: English
Published: 01/25/1996
Pages: 280
Format: Hardcover
Weight: 1.11lbs
Size: 9.50h x 6.40w x 0.91d