International Finance and Financial Crises: Essays in Honor of Robert P. Flood, Jr.

ISBN-13: 9789401057707 / Angielski / Miękka / 2012 / 273 str.

Peter Isard; Assaf Razin; Andrew K. Rose

Opis

International Finance and Financial Crises: Essays in Honor of Robert P. Flood, Jr. contains the proceedings of a conference held in honor of Robert P. Flood, Jr. Bob Flood has made important contributions to many areas of economic analysis, including regime switching, speculative attacks, bubbles, stock market volatility, macro models with nominal rigidities, dual exchange rates, target zones, and rules versus discretion in monetary policy. Contributors were invited to address any of the topics or others of their choosing. The results include five papers on topics in international finance; two of these papers, as well as the panel discussion, focus on speculative attacks and financial crises. The other three take new directions in exploring topics in which existing models leave much to be desired.

Spis treści

Preface. Contributors and Conference Participants. A Tribute to Robert Flood, Jr.; S. Fischer. Overview. 1. Some Parallels Between Currency and Banking Crises; N. Marion. 2. Balance Sheets, the Transfer Problem, and Financial Crises; P. Krugman. 3. Financial Crises: What Have We Learned from Theory and Experience? 4. On the Foreign Exchange Risk Premium in Sticky-Price General Equilibrium Models; C. Engel. 5. An Information-Based Model of Foreign Direct Investment: The Gains from Trade Revisited; A. Razin, et al. 6. An International Dynamic Asset Pricing Model; R. Hodrick, et al. 7. Role of the Minimal State Variable Criterion in Rational Expectations Models; B. McCallum. 8. Exact Utilities under Alternative Monetary Policy Rules in a Simple Macro Model with Optimizing Agents; D. Henderson, J. Kim. Appendix I: Robert P. Flood Jr. - Bibliography.

O autorze

Peter Isard is Assistant Director in the Research Department of the International Monetary Fund, where he has worked since 1985. From 1972 through 1985 Dr Isard held research and managerial positions in the International Finance Division of the Federal Reserve Board. He has published numerous articles on the behavior of exchange rates, strategies for monetary policy, and directions for reforming the international financial system. His book Exchange Rate Economics (Cambridge University Press, 1995) has been widely acclaimed.