This second volume covers all the conventional topics of international monetary theory and open-economy macroeconomics, and a lot more besides. Gandolfo treats such further concepts as the theory of monetary integration and the European monetary union, foreign exchange crises and the Tobin tax, theory of games and international policy coordination. It follows the "two-tier" structure of the first volume, and, thanks to its self-contained treatment, may equally be used as a reference book.
In the present text the author deals with both conventional and new approaches to trade theory and policy, treating all important research topics in international economics and clarifying their mathematical intricacies. The textbook is intended for undergraduates, graduates and researchers alike. It addresses undergraduate students with extremely clear language and illustrations, making even the most complex trade models accessible. In the appendices, graduate students and researchers will find self-contained treatments in mathematical terms. The new edition has been thoroughly revised and updated to reflect the latest research on international trade.
International Economics: Global Markets and Competition integrates the microeconomics of international trade with open economy macroeconomics and finance. The theory is comprehensive but presented with intuitive diagrams. The book emphasizes the gains from international competition and the limits of trade policy.Economics began during the Industrial Revolution with a debate over import tariffs. To this day, domestic industries lobby for tariff protection against foreign competition, paying lawmakers for tariffs on imports. Only under special conditions do tariffs lead to economic gains. Domestic importers of materials and industrial products favor free trade, as do export industries since tariffs encourage other countries to retaliate with tariffs of their own.Trade theory includes market analysis and general equilibrium models of the economy. This text integrates the full range of trade theory with exchange rates, balance of payments, international finance, and open economy growth and macroeconomics.The presentation focuses on diagrams and avoids equations and algebra. The theory is presented with numerical examples. The text does not assume intermediate economics, instead developing the theory with thorough explanations. Questions in each section build confidence in applying the theory. Boxed examples illustrate the importance of the theory.Students like the concise and straightforward style. Instructors notice the difference on exams.
This volume of original essays brings the practical world of trade policy and of government and business strategy together with the world of academic trade theory. It focuses in particular on the impact of changes in the international trade environment and on how new developments and theory can guide our trade policy.Contents: New Thinking about Trade Policy, Paul Krugman (Sloan School of Management, MIT). Rationales for Strategic Trade and Industrial Policy, James A. Brander (University of British Columbia). Strategic Export Promotion: A Critique, Gene M. Grossman (Woodrow Wilson School, Princeton University). Government Policy and the Dynamics of International Competition in High Technology, Michael Borrus, Laura d'Andrea Tyson, and John Zysman (all at the University of California, Berkeley). What Should Trade Policy Target? Barbara Spencer (University of British Columbia). Credit Policy and International Competition, Jonathan Eaton (University of Virginia). Industrial Policy: An Overview, Geoffrey Carliner (National Bureau of Economic Research). Japan's Industrial Strategy, Kozo Yamamura (University of Washington). U.S. Trade and Industrial Policy, William R. Cline (Institute for International Economics). Strategic Behavior and Trade Policy, Alvin K. Klevorick (Yale University) and William Branson (Princeton University). The New Political Economy of Trade Policy, J. David Richardson, (University of Wisconsin). Trade Policy: An Agenda for Research, Avinash K. Dixit (Woodrow Wilson School, Princeton University).Paul Krugman is Professor of Economics at MIT. A former member of the staff of the Council of Economic Advisers, Krugman is also coauthor, with Elhanan Helpman, of Market Structure and Foreign Trade (MIT Press 1985).
"A readable, balanced, and provocative view of the prospects for fruitful international economic cooperation. The papers are realistic: each discusses the difficulties involved in reaching cooperative solutions or procedures as well as the benefits of doing so. The discussion among the conference participants is lively, interesting, and insightful."--William H. Branson, Princeton University
"International Economics, Globalization, and Policy: A Reader, Fifth Edition provides a unique collection of articles by leading economists. With articles drawn from scholarly sources or written especially for this edition, King and King present a balanced look at a wide variety of topics such as outsourcing, the environment, trade deficits, and financial crises. Whether used alone or packaged with a McGraw-Hill/Irwin economics text, International Economics, Globalization, and Policy has all the features you need in a reader."--BOOK JACKET.
Trade is a cornerstone concept in economics worldwide. This updated second edition of the essential graduate textbook in international trade brings readers to the forefront of knowledge in the field and prepares students to undertake their own research. In Advanced International Trade, Robert Feenstra integrates the most current theoretical approaches with empirical evidence, and these materials are supplemented in each chapter by theoretical and empirical exercises. Feenstra explores a wealth of material, such as the Ricardian and Heckscher-Ohlin models, extensions to many goods and factors, and the role of tariffs, quotas, and other trade policies. He examines imperfect competition, offshoring, political economy, multinationals, endogenous growth, the gravity equation, and the organization of the firm in international trade. Feenstra also includes a new chapter on monopolistic competition with heterogeneous firms, with many applications of that model. In addition to known results, the book looks at some particularly important unpublished results by various authors. Two appendices draw on index numbers and discrete choice models to describe methods applicable to research problems in international trade. Completely revised with the latest developments and brand-new materials, Advanced International Trade is a classic textbook that will be used widely by students and practitioners of economics for a long time to come. Updated second edition of the essential graduate textbook Current approaches and a new chapter on monopolistic competition with heterogeneous firms Supplementary materials in each chapter Theoretical and empirical exercises Two appendices describe methods for international trade research
Developed in the classroom by two of the most prominent researchers in the field, Feenstra and Taylor's International Economics uses engaging applications to provide a modern view of the global economy for a modern audience. Most international economics textbooks emphasize theory and the economies of advanced countries. Feenstra and Taylor combine theoretical coverage with empirical evidence throughout, while reflecting the realities of the global economy by covering emerging markets and developing countries (India, China, Southeast Asia). The new edition has been thoroughly updated to include new data and Applications, as well as many new Headlines to reflect the rapid changes in international economics during the last three years. The 4th Edition includes the latest on opening relations with Cuba, immigration and Europe's refugee crisis, the effect of NAFTA on wages and employment, job polarization, quicksourcing, China's problems, and the debate in Britain about leaving the European Union. A modern textbook requires a modern and integrated homework system. LaunchPad offers our acclaimed content organized for easy assignability by instructors and enhanced learning for students.
