International Finance and Open-Economy Macroeconomics

ISBN-13: 9783662570432 / Angielski / Miękka / 2018 / 681 str.

Giancarlo Gandolfo; Daniela Federici

Spis treści

I Introduction.- International Finance and International Macroeconomics: An overview.- II The Basics.- The Foreign Exchange Market.- Exchange-Rate Regimes.- International Interest-Rate Parity Conditions.- The Balance of Payments.- real and Financial Flows in an Open Economy.- III The Approaches.- The Elasticity Approach.- The Multiplier Approach.- An Integrated Approach.- The Mundell-Fleming Model.- Policy Implications of the Mundell-Fleming Model.- IV Stock and Stock-Flow Approaches.- The Monetary Approach to the BP and Related Approaches.- Portfolio and Macroeconomic Equilibrium in an Open Economy.- Growth in an Open Economy.- V The Exchange Rate.- Exchange-Rate Determination.- Capital Movements, Speculation, and Currency Crises.- Fixed vs Flexible Exchange Rates.- VI The Intertemporal Approach.- The Intertemporal Approach, and the Real Exchange Rate.- Other Applications.- VII International Monetary Integration.- International Monetary Integration.- The European Monetary Union.- VIII Problems of the International Monetary (Non)System.- Key Events in the Postwar International Monetary System.- International Liquidity, and Xeno-Markets.- Current Problems.

O autorze

Giancarlo Gandolfo has been Professor of International Economics at the University of Rome la Sapienza from 1974 to 2010, when he retired. Previously he taught Economics and Mathematical Economics at the Universities of Rome (1965-70) and Siena (1968-74). He has been visiting professor in various foreign universities. He is a member of the Accademia Nazionale dei Lincei, Rome, a research Fellow of CESifo, Munich, and holds a doctorate honoris causa from the University of Frankfurt. He is the author of over 190 publications and sits on the editorial board of several international journals.

Daniela Federici is Professor of International Economics at University of Cassino and Southern Lazio. She earned her Laurea in Economics at the University of Rome La Sapienza and her Ph.D. in International Economics at Graduate Institute of International Studies, Geneva. Federici has published papers in leading international journals on topics such as exchange rate dynamics, international trade, and productivity growth. She has been research visiting at Columbia University, Stanford University, University of Illinois at Urbana-Champaign, and Pace University.

Blurb

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 this book. 

the late Professor Jerome L. Stein, Brown University 

This book is a second edition of a volume on international finance  first published in 2001. Like Giancarlo’s other books in International Economics, this book is organised as a two-books-in-one by distributing the material between text and appendices. The text provides coverage suitable for an undergraduate course while the mathematical appendices provide coverage of the topics at the frontier of the discipline and suitable for advanced undergraduate or graduate students in an  international finance and international macroeconomics course. 

This edition updates the earlier volume and covers all the classic topics  as well as the more recent advances in the theory and  modelling of international finance. It includes some discussion of the empirical testing of these theories and where appropriate reference to the extensive empirical literature is also provided. 

This book is a valuable addition to the bookshelf of any serious International Finance Scholar and provides a treasure chest of material for any quality international finance course. 

Professor Pasquale M Sgro, Deakin University 

Giancarlo Gandolfo is one of the profession's most gifted textbook authors on mathematical modeling and international economics. His revised International Finance and Open-Economy Macroeconomics is remarkable for its scope and clarity. The book covers the older and intertemporal approaches, and topics that are usually left out of graduate treatments (the chapter on balance-of-payments accounting is a gem). Gandolfo's two-tier approach of first developing topics with graphs and basic algebra and then providing rigorous mathematics for each topic makes the book ideal for advanced undergraduate and graduate classes. 

Professor Michael D. Goldberg, University of New Hampshire