{"product_id":"international-macroeconomics-and-finance-isbn-9780631222880","title":"International Macroeconomics and Finance","description":"This short, concrete, and to-the-point book guides students through this vast field of conflicting opinions. The book begins from the premise that students benefit most from seeing a balanced treatment of all available views. For instance, this book provides coverage of both \u003ci\u003ead hoc\u003c\/i\u003e and optimizing models. It also explores divisions such as flexible price versus sticky price models, rationality versus irrationality, and calibration versus statistical inference. By giving consideration to each of these 'mini debates;, this book shows how each approach has its good and bad points.  Preface. \u003cp\u003e\u003cb\u003e1. Some Institutional Background:.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eInternational Financial Markets.\u003c\/p\u003e \u003cp\u003eNational Accounting Relations.\u003c\/p\u003e \u003cp\u003eThe Central Bank's Balance Sheet.\u003c\/p\u003e \u003cp\u003e\u003cb\u003e2. Some Useful Time-Series Methods:.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eUnrestricted Vector Autoregressions.\u003c\/p\u003e \u003cp\u003eThe Generalized Method of Moments.\u003c\/p\u003e \u003cp\u003eThe Simulated Method of Moments.\u003c\/p\u003e \u003cp\u003eUnit Roots.\u003c\/p\u003e \u003cp\u003ePanel Unit-Root Tests.\u003c\/p\u003e \u003cp\u003eCointegration.\u003c\/p\u003e \u003cp\u003eFiltering.\u003c\/p\u003e \u003cp\u003e\u003cb\u003e3. The Monetary Model:.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003ePurchasing-Power Parity.\u003c\/p\u003e \u003cp\u003eThe Monetary Model of the Balance of Payments.\u003c\/p\u003e \u003cp\u003eThe Monetary Model under Flexible Exchange Rates.\u003c\/p\u003e \u003cp\u003eFundamentals and Exchange Rate Volatility.\u003c\/p\u003e \u003cp\u003eTesting Monetary Model Predictions.\u003c\/p\u003e \u003cp\u003eProblems.\u003c\/p\u003e \u003cp\u003e\u003cb\u003e4. The Lucas Model:.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Barter Economy.\u003c\/p\u003e \u003cp\u003eThe One-Money Monetary Economy.\u003c\/p\u003e \u003cp\u003eThe Two-Money Monetary Economy.\u003c\/p\u003e \u003cp\u003eAn Introduction to the Calibration Method.\u003c\/p\u003e \u003cp\u003eCalibrating the Lucas Model.\u003c\/p\u003e \u003cp\u003eAppendix: Markov Chains.\u003c\/p\u003e \u003cp\u003eProblems.\u003c\/p\u003e \u003cp\u003e\u003cb\u003e5. International Real Business Cycles:.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eCalibrating the One-Sector Growth Model.\u003c\/p\u003e \u003cp\u003eCalibrating a Two-Country Model.\u003c\/p\u003e \u003cp\u003e\u003cb\u003e6. Foreign Exchange Market Efficiency:.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eDeviations from UIP.\u003c\/p\u003e \u003cp\u003eRational Risk Premia.\u003c\/p\u003e \u003cp\u003eTesting Euler Equations.\u003c\/p\u003e \u003cp\u003eApparent Violations of Rationality.\u003c\/p\u003e \u003cp\u003eThe \"Peso Problem\".\u003c\/p\u003e \u003cp\u003eNoise Traders.\u003c\/p\u003e \u003cp\u003eProblems.\u003c\/p\u003e \u003cp\u003e\u003cb\u003e7. The Real Exchange Rate:.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eSome Preliminary Issues.\u003c\/p\u003e \u003cp\u003eDeviations from the \"Law-of-One-Price\".\u003c\/p\u003e \u003cp\u003eLong-Run Determinants of the Real Exchange Rate.\u003c\/p\u003e \u003cp\u003eLong-Run Analyses of Real Exchange Rates.\u003c\/p\u003e \u003cp\u003eProblem.\u003c\/p\u003e \u003cp\u003e\u003cb\u003e8. The Mundell–Fleming Model:.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eA Static Mundell–Fleming Model.\u003c\/p\u003e \u003cp\u003eDornbusch's Dynamic Mundell–Fleming Model.\u003c\/p\u003e \u003cp\u003eA Stochastic Mundell–Fleming Model.\u003c\/p\u003e \u003cp\u003eVAR Analysis of Mundell–Fleming.\u003c\/p\u003e \u003cp\u003eAppendix: Solving the Dornbusch Model.\u003c\/p\u003e \u003cp\u003eProblems.\u003c\/p\u003e \u003cp\u003e\u003cb\u003e9. The New International Macroeconomics:.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Redux Model.\u003c\/p\u003e \u003cp\u003ePricing to market.\u003c\/p\u003e \u003cp\u003eProblems.\u003c\/p\u003e \u003cp\u003e\u003cb\u003e10. Target-Zone Models:.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eFundamentals of Stochastic Calculus.\u003c\/p\u003e \u003cp\u003eThe Continuous-Time Monetary Model.\u003c\/p\u003e \u003cp\u003eInfinitesimal Marginal Intervention.\u003c\/p\u003e \u003cp\u003eDiscrete Intervention.\u003c\/p\u003e \u003cp\u003eEventual Collapse.\u003c\/p\u003e \u003cp\u003eImperfect Target-Zone Credibility.\u003c\/p\u003e \u003cp\u003e\u003cb\u003e11. Balance-of-Payments Crises:.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eA First-Generation Model.\u003c\/p\u003e \u003cp\u003eA Second-Generation Model.\u003c\/p\u003e \u003cp\u003eBibliography.\u003c\/p\u003e \u003cp\u003eAuthor Index.\u003c\/p\u003e \u003cp\u003eSubject Index.\u003c\/p\u003e \"The author should be congratulated on producing a first-class graduate text. The book has a breathtaking scope, spanning traditional monetary approaches to general equilibrium models under both perfect and imperfect competition in a clear, rigorous and lucid style. It will be of enormous value to postgraduate students in international macroeconomics.\" \u003ci\u003eAndrew Snell, University of Edinburgh\u003c\/i\u003e  \u003cb\u003e\u003cbr\u003e \u003c\/b\u003e \u003cp\u003e\u003cb\u003eNelson C. Mark\u003c\/b\u003e is Professor of Economics at Ohio State University. He has been widely published in journals such as the \u003ci\u003eEconomic Journal\u003c\/i\u003e, \u003ci\u003eJournal of Applied Econometrics\u003c\/i\u003e, \u003ci\u003eJournal of International Economics\u003c\/i\u003e, \u003ci\u003eAmerican Economic Review\u003c\/i\u003e, \u003ci\u003eJournal of Finance\u003c\/i\u003e, \u003ci\u003eInternational Economic Review\u003c\/i\u003e, \u003ci\u003eJournal of Financial Economics\u003c\/i\u003e, and \u003ci\u003eJournal of Monetary Economics\u003c\/i\u003e. He is presently editor of \u003ci\u003eJournal of Money, Credit and Banking\u003c\/i\u003e.\u003c\/p\u003e  This short, concrete, and to-the-point book guides students through this vast field of conflicting opinions. The book starts from the premise that students benefit most from seeing a balanced treatment of all available views. For instance, it provides coverage of both \u003ci\u003ead hoc\u003c\/i\u003e and optimizing models and also explores divisions such as flexible price versus sticky price models, rationality versus irrationality, and calibration versus statistical inference. By giving consideration to each of these 'mini debates,' this book shows how each approach has its good and bad points. \u003ci\u003e\u003cbr\u003e \u003c\/i\u003e \u003cp\u003e\u003ci\u003eInternational Macroeconomics and Finance\u003c\/i\u003e also excels in its integration of theoretical and empirical issues: the theory is introduced by developing the canonical model in a topic area and then its predictions are evaluated quantitatively. Both the calibration method and standard econometric methods are covered.\u003cbr\u003e \u003c\/p\u003e \u003cp\u003eTo avoid the 'black-box' perception that students sometimes develop, almost all of the results presented here are derived step-by-step from first principles. A conversational, logical presentation also makes this a supreme learning tool.\u003c\/p\u003e","brand":"Wiley-Blackwell","offers":[{"title":"Default Title","offer_id":47989447590117,"sku":"NP9780631222880","price":53.0,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1842\/7735\/files\/9780631222880.jpg?v=1761784137","url":"https:\/\/k12savings.com\/es\/products\/international-macroeconomics-and-finance-isbn-9780631222880","provider":"K12savings","version":"1.0","type":"link"}