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Up-to-date surveys of all major research areas in international trade and international finance are presented in this volume. The chapters have a high standard of exposition, delivering ideas at the forefront of the field in a clear readable fashion. The volume has a good overall balance of theoretical and empirical coverage.The trade side of the volume surveys theoretical work on trade based on scale economics and imperfect competition, the relationship between trade and technological progress, strategic trade policy, the political economy of trade policy, and the rules and institutions of international trade, as well as empirical work on trade patterns, trade policies, and regional integration. The finance side covers topics such as exchange rates, purchasing power parity, the current account, the international transmission of business cycles, foreign ending, international capital markets, target zones and speculative attacks on fixed exchange rates, and international economic policy coordination.
For students and researchers interested in understanding developments in modern international economics, this book is an essential reference.
List of contents
Increasing returns, imperfect competition and the positive theory of international trade (P. Krugman). Technology and trade (G.M. Grossman, E. Helpman). International trade theory: The evidence (E. Leamer, J. Levinsohn). Strategic trade policy (J.A. Brander). Political economy of trade policy (D. Rodrik). International rules and institutions for cooperative trade policy (R. Staiger). Estimating the effects of trade policy (R.C. Feenstra). Regional economic integration (R.E. Baldwin, T. Venables). Perspectives on PPP and the long-run real exchange rate (K. Froot, K. Rogoff). Empirical research on nominal exchange rates (J.A. Frankel, A.K. Rose). The intertemporal approach to the current account (M. Obstfield, K. Rogoff). International trade and business cycles (M. Baxter). The operations and collapse of fixed exchange rate regimes (P.M. Garber, L.E.O. Svensson). Puzzles in international financial markets (K.K. Lewis). Double-edged incentives: institutions and policy coordination (T.Persson, G. Tabellini). Sovereign debt (J. Eaton, R. Fernandez). Index.
About the author
A member of the National Academy of Sciences, he is the author most recently of This Time Is Different: Eight Centuries of Financial Folly (with Carmen M. Reinhart), 2009.
Summary
Presents major research areas in international trade and international finance. This book surveys theoretical work on trade based on scale economics and imperfect competition, and the relationship between trade and technological progress. It is suitable for those interested in understanding developments in modern international economics.
