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Emphasizing the use of data and empirics to link cutting-edge economic theory to current world events, this book was developed in the classroom by two of the most prominent researchers in the field who saw a need for a text with fresh theories and perspectives. Seamlessly blending theory and data with real-world policies, events, and evidence, Feenstra and Taylor's International Macroeconomics provides engaging, balanced coverage and applications of key concepts. The 5th edition includes: ¿ New coverage of poor countries and financial globalization. ¿ New application about monetary policy at the zero-lower bound after the Global Financial Crisis and the coronavirus pandemic recession. ¿ Thorough updating of the most recent changes in the EU and the Eurozone, including Brexit. ¿ Data, examples and applications updated throughout.
List of contents
PART 1 INTRODUCTION TO INTERNATIONAL MACROECONOMICS 1. The Global Macroeconomy
PART 2 EXCHANGE RATES 2. Introduction to Exchange Rates and the Foreign Exchange Market
3. Exchange Rates I: The Monetary Approach in the Long Run
4. Exchange Rates II: The Asset Approach in the Short Run
PART 3 THE BALANCE OF PAYMENTS 5. National and International Accounts: Income, Wealth, and the Balance of Payments
6. Balance of Payments I: The Gains from Financial Globalization
7. Balance of Payments II: Output, Exchange Rates, and Macroeconomic Policies in the Short Run
PART 4 APPLICATIONS AND POLICY ISSUES 8. Fixed Versus Floating: International Monetary Experience
9. Exchange Rate Crises: How Pegs Work and How They Break
10. The Euro: Economics and Politics
11. (online only) Topics in International Macroeconomics
About the author
Robert C. Feenstra Robert C. Feenstra is Professor of Economics at the University of California, Davis. He received his B.A. in 1977 from the University of British Columbia, Canada, and his Ph.D. in economics from MIT in 1981. Feenstra has been teaching international trade at the undergraduate and graduate levels at UC Davis since 1986, where he holds the C. Bryan Cameron Distinguished Chair in International Economics. Feenstra is a research associate of the National Bureau of Economic Research, where he directs the International Trade and Investment research program. He received the Bernhard Harms Prize from the Institute for World Economics, Kiel, Germany, in 2006, and delivered the Ohlin Lectures at the Stockholm School of Economics in 2008.
Alan M. Taylor Alan M. Taylor is Professor of Economics at the University of California, Davis. He received his B.A. in 1987 from King's College, Cambridge, U.K and earned his Ph.D. in economics from Harvard University in 1992. Taylor has been teaching international macroeconomics, growth, and economic history at UC Davis since 1999, where he directs the Center for the Evolution of the Global Economy. He is also a research associate of the National Bureau of Economic Research. Taylor was awarded a Guggenheim Fellowship in 2004 and was a visiting professor at the American University in Paris and London Business School in 2005-06.
Summary
Emphasizing the use of data and empirics to link cutting-edge economic theory to current world events, this book provides fresh theories and perspectives.
