Handbook of International Economics

Handbook of International Economics

First published on April 7, 2022

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  • Editors: Gita Gopinath, Elhanan Helpman, Kenneth Rogoff
  • Hardcover ISBN: 9780323957724
  • eBook ISBN: 9780323957731

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Description

Handbook of International Economics, Sixth Edition provides a definitive reference for researchers and advanced graduate students. The book includes self-contained surveys of the current state of a branch of economics in the form of chapters prepared by leading specialists. These surveys summarize not only received results but also newer developments from journal articles and discussion papers. Chapters cover The Global Financial Cycle, Dominant Currency Paradigm: a review, Rethinking exchange rate regimes, CIP deviations, the dollar, and frictions in international capital markets, International macroeconomics with imperfect financial markets, The prudential use of capital controls and foreign currency reserves, and Financial crises: a survey.

Key Features

  • Provides the authority and expertise of leading contributors from an international board of authors
  • Presents the latest release in the Handbook of International Economics series
  • Includes self-contained surveys of the current state of a branch of economics in the form of chapters prepared by leading specialists

Readership

Academic, government and industrial sectors

Table of Contents

  • Cover image
  • Title page
  • Table of Contents
  • Copyright
  • Contributors
  • Introduction to the series
  • Preface
  • Chapter 1: The Global Financial Cycle
  • Abstract
  • 1. Introduction
  • 2. Empirical evidence on global factors
  • 3. What is behind the Global Financial Cycle?
  • 4. Has the Global Financial Cycle changed after Lehman?
  • 5. Models of the Global Financial Cycle
  • 6. Global Financial Cycle, monetary and macroprudential policies: a research agenda
  • References
  • Chapter 2: Dominant Currency Paradigm: a review
  • Abstract
  • 1. Introduction
  • 2. Empirical evidence
  • 3. Asymmetry in the transmission of shocks
  • 4. Optimal monetary policy
  • 5. Currency choice
  • 6. Conclusions and directions for future research
  • Appendix A. Additional figures
  • References
  • Chapter 3: Rethinking exchange rate regimes
  • Abstract
  • 1. Introduction
  • 2. A brief history of the dominant currency
  • 3. Rethinking exchange rate regimes
  • 4. Dollar dominance in the 21st century
  • 5. Exchange rate practices in extended Bretton Woods II
  • 6. Striking stability at the center of the system
  • 7. Capital flows and capital controls
  • 8. The impossible trinity and the new Triffin dilemma
  • 9. Conclusions
  • References
  • Chapter 4: CIP deviations, the dollar, and frictions in international capital markets
  • Abstract
  • 1. Introduction
  • 2. CIP: background, definition and measurement
  • 3. CIP deviations for benchmark bank rates
  • 4. CIP deviations and bank balance sheet constraints
  • 5. Demand for dollar funding and hedging services
  • 6. CIP deviations for government bond yields
  • 7. Exchange rates and CIP deviations
  • 8. Takeaways and open research questions
  • 9. Conclusion
  • Appendix A. Calculating the annualized forward premium
  • References
  • Chapter 5: International macroeconomics with imperfect financial markets
  • Abstract
  • 1. A simple theoretical framework
  • 2. The financial frictions view of international macroeconomics
  • 3. Conclusions
  • References
  • Chapter 6: The prudential use of capital controls and foreign currency reserves
  • Abstract
  • 1. Introduction
  • 2. Historical and empirical perspective
  • 3. Model
  • 4. A capital flight shock and the optimal response
  • 5. Prudential policies
  • 6. Extensions and connections
  • 7. Empirical findings on effectiveness
  • 8. Conclusions
  • Appendix A. Proofs
  • Appendix B. Data appendix
  • References
  • Chapter 7: Financial crises: a survey
  • Abstract
  • 1. Introduction
  • 2. Measurement: defining a financial crisis
  • 3. Financial crisis predictability and causality
  • 4. Explaining the painful consequences of a crisis
  • 5. Open economy considerations
  • 6. Open questions and future research
  • References
  • Index

Product details

  • No. of pages: 368
  • Language: English
  • Copyright: © North Holland 2022
  • Published: April 7, 2022
  • Imprint: North Holland
  • Hardcover ISBN: 9780323957724
  • eBook ISBN: 9780323957731

About the Serial Volume Editors

Gita Gopinath

Winner of the Bhagwati Prize for the best paper published in the Journal of International Economics for the two years 2003 and 2004, she is a member of the American Economic Review editorial board.

Affiliations and Expertise

Harvard University, Cambridge MA, USA

Elhanan Helpman

Elhanan Helpman is Galen L. Stone Professor of International Trade, Harvard University, Cambridge MA, USA

Affiliations and Expertise

Harvard University, Cambridge MA, USA

Kenneth Rogoff

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.

Affiliations and Expertise

Harvard University, Cambridge, MA, USA

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