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International Economics [Mīkstie vāki]

3.74/5 (24 ratings by Goodreads)

John H. Mutti (Grinnell College, USA), Michelle H. Turnovsky (University of Washington, USA), Theo Eicher (University of Washington, USA)

Formāts: Paperback / softback, 782 pages, height x width: 246x189 mm, weight: 1474 g, 71 Tables, black and white; 136 Line drawings, color; 136 Illustrations, color
Izdošanas datums: 08-Apr-2009
Izdevniecība: Routledge
ISBN-10: 0415772869
ISBN-13: 9780415772860

Citas grāmatas par šo tēmu:

International economics

Mīkstie vāki
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Formāts: Paperback / softback, 782 pages, height x width: 246x189 mm, weight: 1474 g, 71 Tables, black and white; 136 Line drawings, color; 136 Illustrations, color
Izdošanas datums: 08-Apr-2009
Izdevniecība: Routledge
ISBN-10: 0415772869
ISBN-13: 9780415772860

Citas grāmatas par šo tēmu:

International economics

Speciālā piedāvājuma visas grāmatas: Taylor & Francis offers several humanities titles with ISE (International Student Edition) prices

Permanent link: https://www.kriso.lv/db/9780415772860.html

Keywords:

International economic relations

Thought-provoking and clearly explained, the new edition provides students of international economics and international business with a rigorous explanation of global economic theory and policy, both current trends and historic developments. It explores key models through case studies and review questions, enabling students to challenge the reporting of economic events by press and government alike.

Split into 2 parts – International Trade and International Finance – the text explains conceptual building blocks before applying them to current events and controversies. Key issues discussed include:

the influence of transportation costs
economies of scale and the new economic geography
the evaluation of preferential trade agreements
european Economic and Monetary Union
the integration of international financial markets
international financial crises, China and other emerging economies.

Fully illustrated with tables and figures to allow students to visualise the issues discussed, the lively prose gives this book a refreshing approach. An accompanying website also provides context and coverage of the international financial crisis of October 2008, including the so-called ‘credit crunch’ and the collapse of some banking institutions.

List of Case Studies

xiii

List of Boxes

List of Figures

xxi

List of Tables

xxv

Preface

xxix

Introduction: Life in an International Economy

(8)

References and Suggestions for Further Reading

(2)

PART I INTERNATIONAL TRADE AND TRADE POLICY

(328)

Why Do Nations Trade? Some Early Answers

(21)

Learning Objectives

(1)

Absolute Advantage

(2)

Comparative Advantage

(4)

Reciprocal Demand and Prices Internationally

(3)

Comparative Advantage with Many Goods

(3)

Empirical Verification in a World with Many Goods

(2)

Summary of Key Concepts

(1)

Case Study: Rising Productivity: A Guarantee of Manufacturing Success?

(1)

Questions for Study and Review

(2)

References and Suggestions for Further Reading

(2)

Why Do Nations Trade? Some Later Answers

(32)

Learning Objectives

(1)

Consumer Preferences and the Gains from Trade

(6)

Production Capabilities and the Gains from Trade

(2)

International Trade with Constant Costs

(6)

International Trade with Increasing Costs

(3)

The Division of the Gains from Trade

(7)

Summary of Key Concepts

(1)

Case Study: Terms of Trade Changes and Australian Growth

(2)

Questions for Study and Review

(2)

References and Suggestions for Further Reading

(1)

Appendix: The Role of Money Prices

(2)

Trade and the Role of Factor Endowments

(40)

Learning Objectives

(1)

Factor Proportions as a Determinant of Trade

(11)

Trade and Changing Factor Endowments

(4)

Trade, the Distribution of Income and Factor Price Changes

(7)

Relaxing Some Assumptions of the H-O Model

(4)

Empirical Verification of the H-O Model

(4)

Summary of Key Concepts

(1)

Case Study: Trade Liberalization and the Distribution of Income in Brazil

(2)

Questions for Study and Review

(2)

References and Suggestions for Further Reading

101

(2)

Appendix: Mathematical Representations of Relationships in the H-O Model

103

(3)

Scale, Competition and Trade

106

(37)

Learning Objectives

106

(2)

External Economies of Scale

108

(5)

Internal Economies of Scale

113

(5)

Economies of Scale and Monopolistic Competition

118

(8)

Trade with Other Forms of Imperfect Competition

126

(6)

Summary of Key Concepts

132

(1)

Case Study: A Further Case of Intra-Industry Trade: Carrying Coals to Newcastle?

133

(2)

Questions for Study and Review

135

(2)

References and Suggestions for Further Reading

137

(2)

Appendix A: Monopolistic Competition and Trade

139

(2)

Appendix B: Oligopoly, the Cournot Model, and Trade

141

(2)

The Theory of Protection Tariffs and Other Barriers to Trade

143

(39)

Learning Objectives

143

(2)

Partial Equilibrium Analysis of Trade Barriers

145

(17)

General Equilibrium Analysis of Trade Barriers

162

(3)

The Effective Rate of Protection

165

(5)

Intervention in Export Markets

170

(4)

Summary of Key Concepts

174

(1)

Case Study: The Elimination of the MFA

175

(2)

Questions for Study and Review

177

(2)

References and Suggestions for Further Reading

179

(3)

Arguments for Protection and the Political Economy of Trade Policy

182

(38)

Learning Objectives

182

(2)

Arguments for Restricting Imports

184

(17)

Dumping

201

(7)

The Political Economy of Trade Policy

208

(3)

Summary of Key Concepts

211

(1)

Case Study: Are Chinese and Vietnamese Shoes Dumped in the E.U. Market?

212

(1)

Questions for Study and Review

213

(3)

References and Suggestions for Further Reading

216

(2)

Appendix: Optimum Tariffs: A Partial Equilibrium Perspective

218

(2)

International Mobility of Labor and Capital

220

(29)

Learning Objectives

220

(4)

A Basic Model of Capital Mobility

224

(4)

Additional Issues Raised by Labor Mobility

228

(6)

Multinational Corporations

234

(10)

Summary of Key Concepts

244

(1)

Case Study: The Daimler Chrysler Marriage and Divorce

245

(1)

Questions for Study and Review

246

(1)

References and Suggestions for Further Reading

247

(2)

Regional Blocs: Preferential Trade Liberalization

249

(25)

Learning Objectives

249

(1)

Alternative Forms of Preferential Trade Agreements

250

(1)

Efficiency Gains and Losses From Preferential Trade Agreements

251

(5)

Measuring the Economic Effects of a Preferential Trade Agreement

256

(2)

The European Union

258

(6)

NAFTA

264

(4)

Summary of Key Concepts

268

(1)

Case Study: A Russia-EU Free Trade Agreement?

269

(1)

Questions for Study and Review

270

(2)

References and Suggestions for Further Reading

272

(2)

Commercial Policy and the WTO

274

(26)

Learning Objectives

274

(1)

The Rationale for Multilateral Trade Liberalization

275

(1)

Precursors to Multilateral Trade Liberalization

276

(2)

Multilateral Trade Liberalization under the GATT

278

(6)

The Establishment of the WTO

284

(4)

Resolving Trade Disputes in the WTO

288

(4)

Developing Countries and the WTO

292

(3)

Summary of Key Concepts

295

(1)

Case Study: Discipline Over Agricultural Policies? The Case of U.S. Cotton Subsidies

296

(1)

Questions for Study and Review

297

(2)

References and Suggestions for Further Reading

299

(1)

Trade and Growth

300

(37)

Learning Objectives

300

(2)

Building Blocks to Determine the Effects of Economic Growth on Trade

302

(6)

Large Countries and Changes in the Terms Of Trade

308

(4)

Developing-Country Perspectives and the Effects of Trade on Growth

312

(7)

Alternative Trade Policies and the Transition to Greater Manufactured Output

319

(5)

Growth and Environmental Externalities

324

(5)

Summary of Key Concepts

329

(1)

Case Study: China's Trade: Lessons to be Learned?

329

(2)

Questions for Study and Review

331

(1)

References and Suggestions for Further Reading

332

(2)

Appendix: Demonstrating the Effects of Exogenous Technical Change

334

(3)

PART II INTERNATIONAL FINANCE AND OPEN ECONOMY MACROECONOMICS

337

(375)

The Balance of Payments and the Exchange Rate

341

(33)

Learning Objectives

341

(1)

The Balance of Payments: International Transactions Accounts

342

(10)

The International Investment Position

352

(1)

The Exchange Rate

353

(7)

Summary of Key Concepts

360

(1)

Case Study I CSI: Trade Deficit

361

(1)

Case Study II ``Dark Matter'' Makes the US Deficit Disappear

362

(2)

Questions for Study and Review

364

(1)

References and Suggestions for Further Reading

365

(1)

Appendix

366

(8)

Fundamentals of Exchange Rate Systems

374

(32)

Learning Objectives

374

(5)

Flexible Exchange Rates: Adjustment through Market Forces

379

(4)

Fixed Exchange Rates: Adjustment through Central Bank Intervention

383

(7)

The Exchange Rate and Open-Economy National Income Accounting

390

(2)

The Marshall-Lerner Condition

392

(3)

The J-Curve Effect

395

(2)

Summary of Key Concepts

397

(1)

Case Study I: On Europe: Europe Feels Weight of Strong Euro

398

(1)

Case Study II: China Slightly Loosens the Reins on its Currency's Market Fluctuation

399

(2)

Questions for Study and Review

401

(2)

References and Suggestions for Further Reading

403

(1)

Appendix: The Marshall-Lerner Condition

404

(2)

An Introduction to Modeling the Open Economy

406

(29)

Learning Objectives

406

(1)

Key Features of a Basic Open-Economy Model

407

(2)

A Small Open Economy with Fixed Exchange Rates

409

(13)

A Small Open Economy with Flexible Exchange Rates

422

(4)

Summary of Key Concepts

426

(1)

Case Study I: America is Borrowing Trouble

426

(2)

Case Study II: Greenspan Warns Against Raising Tariffs on China

428

(2)

Questions for Study and Review

430

(3)

References and Suggestions for Further Reading

433

(2)

Extensions of the Basic Open-Economy Model: Policy Effectiveness and the Large Open Economy

435

(34)

Learning Objectives

435

(2)

Sterilization and Policies to Manage External Deficits

437

(8)

Internal and External Balance: The Policy Mix

445

(4)

The Large Open Economy

449

(11)

Summary of Key Concepts

460

(1)

Case Study I: Switching Engines: Global Economic Growth has become Less Dependent on American Spending

461

(2)

Case Study II: The Fiscal Fallacy of Decoupling from America

463

(1)

Questions for Study and Review

464

(3)

References and Suggestions for Further Reading

467

(2)

International Capital Markets

469

(28)

Learning Objectives

469

(1)

International Financial Flows

470

(5)

Financial Markets and Instruments

475

(7)

Various Agents and the Functions of the Markets

482

(4)

The Short-Term Exchange Rate Determination and Technical Analysis

486

(6)

Summary of Key Concepts

492

(1)

Case Study: Marking the Dealer's Cards: What Economists Can Learn from Currency Traders

492

(2)

Questions for Study and Review

494

(1)

References and Suggestions for Further Reading

495

(2)

Modeling International Capital Markets

497

(27)

Learning Objectives

497

(1)

International Capital Market Arbitrage

498

(9)

Integrating Interest Arbitrage into the Open-Economy Model

507

(8)

Summary of Key Concepts

515

(1)

Case Study I: Carry On Speculating

516

(2)

Case Study II: The Domino Effect

518

(2)

Questions for Study and Review

520

(2)

References and Suggestions for Further Reading

522

(2)

Policy Under Fixed Exchange Rates

524

(36)

Learning Objectives

524

(2)

A Review of the Building Blocks: the IS, LM, and BP curves

526

(3)

Monetary Policy under Fixed Exchange Rates

529

(5)

Fiscal Policy under Fixed Exchange Rates

534

(7)

Exchange Rate Policy

541

(5)

The Policy Mix: Internal and External Balance

546

(6)

Summary of Key Concepts

552

(1)

Case Study I: The Petrodollar Peg

553

(2)

Case Study II: Don't Revalue the Yuan

555

(1)

Questions for Study and Review

556

(2)

References and Suggestions for Further Reading

558

(2)

Policy under Flexible Exchange Rates and Extensions of the Mundell-Fleming Model

560

(35)

Learning Objectives

560

(1)

Monetary Policy under Flexible Exchange Rates

561

(5)

Fiscal Policy under Flexible Exchange Rates

566

(6)

The Large Open Economy under Flexible Exchange Rates

572

(6)

Price Adjustment in the Mundell-Fleming Model

578

(6)

Summary of Key Concepts

584

(1)

Case Study I: Insight: Currency Lessons Learned since the Upheaval

585

(2)

Case Study II: Preparing to Float

587

(2)

Questions for Study and Review

589

(2)

References and Suggestions for Further Reading

591

(1)

Appendix: The Policy Mix Revisited: Internal and External Balance

591

(4)

Perfectly Flexible Prices and Exchange Rate Dynamics

595

(31)

Learning Objectives

595

(1)

International Arbitrage and Purchasing Power Parity

596

(14)

Monetarist Approach to the Exchange Rate

610

(1)

Exchange Rate Dynamics - Overshooting

611

(5)

Summary of Key Concepts

616

(1)

Case Study I: Soft Currency

617

(2)

Case Study II: McCurrencies

619

(3)

Questions for Study and Review

622

(1)

References and Suggestions for Further Reading

623

(1)

Appendix: Further Implications of the Monetarist or Long-Run Model

623

(3)

The International Monetary System: A Brief History

626

(33)

Learning Objectives

626

(2)

The Gold Standard

628

(8)

Reconstruction and Exchange Rates after World War I

636

(3)

The Bretton Woods System

639

(5)

A Brief History of the Float after Bretton Woods

644

(3)

The New Financial Architecture: The Basel Accords

647

(3)

Summary of Key Concepts

650

(1)

Case Study I: Financial Reform - Reality Check at the IMF

651

(2)

Case Study II: IMF Quotas - Monetary Misquotations

653

(2)

Questions for Study and Review

655

(1)

References and Suggestions for Further Reading

656

(1)

Appendix: The IMF versus the World Bank - Differences and Recent Collaboration

656

(3)

European Monetary Integration

659

(32)

Learning Objectives

659

(1)

European Issues with Bretton Woods and the Snake

660

(5)

The European Monetary System and its Exchange Rate Mechanism

665

(7)

The 1992-3 European Currency Crises

672

(3)

The European Economic and Monetary Union

675

(9)

Summary of Key Concepts

684

(1)

Case Study: Beggar Thy Neighbour

685

(2)

Questions for Study and Review

687

(2)

References and Suggestions for Further Reading

689

(2)

International Financial Crises

691

(21)

Learning Objectives

691

(1)

The 1970s Oil Shocks: Financial Flow Imbalances and the Origins of the Debt Crises

692

(2)

A Model of Currency Crises: Krugman's Model of Speculative Attacks

694

(1)

The End of Capital Flows: Debt Crises in the 1980s

695

(1)

The Resurgence of Capital Flows to ``Emerging Markets'' in the 1990s

696

(1)

The Effect of Capital Inflows in the Mundell-Fleming Model

696

(3)

The End of Exuberant International Lending: The Asian Financial Crisis

699

(3)

Contagion

702

(1)

The Aftermath of the East Asian Crisis: The Economics of Reserve Accumulation

703

(2)

Reserve Accumulation and International Competitiveness Implications

705

(1)

Summary of Key Concepts

706

(1)

Case Study I: Guilt by Association

707

(2)

Case Study II: Who's in Charge of Determining U.S. Interest Rates? It May Be Beijing

709

(1)

Questions for Study and Review

710

(1)

References and Suggestions for Further Reading

710

(2)

Glossary

712

(24)

Index

736

Theo S. Eicher is Professor and Robert R. Richards Distinguished Scholar in the Department of Economics at the University of Washington, Seattle, USA. He is also an affiliate professor at Ludwig-Maximilians-Universität, Munich, Germany.

John Mutti is the Sidney Meyer Professor International Economics at Grinnell College, Iowa, USA. His experience in government includes the US Treasury Office of International Taxation and the Presidents Council of Economic Advisers. His research focuses on international trade, taxation, and foreign direct investment.

Michelle Turnovsky is a Senior Lecturer in the Department of Economics, at the University of Washington, Seattle, USA.

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