Handbook of International Economics

Handbook of International Economics

First published on February 22, 2014

Write a review

  • Editors: Gita Gopinath, Elhanan Helpman, Kenneth Rogoff
  • eBook ISBN: 9780444543158
  • Hardcover ISBN: 9780444543141

Purchase options

Purchase options
DRM-free (Mobi, EPub, PDF)
Available
Sales tax will be calculated at check-out

Institutional Subscription

Free Global Shipping
No minimum order

Description

What conclusions can be drawn from recent advances in international trade and international macroeconomics? New datasets, theoretical models, and empirical studies have resulted in fresh questions about the world trade and payment system. These chapters--six on trade and six on international macroeconomics--reveal the richness that researchers have uncovered in recent years. The chapters on foreign trade present, among other subjects, new integrated multisector analytical frameworks, the use of gravity equations for the estimation of trade flows, the role of domestic institutions in shaping comparative advantage, and international trade agreements. On international macroeconomics, chapters explore the relation between exchange rates and other macroeconomic variables; risk sharing, allocation of capital across countries, and current account dynamics; and sovereign debt and financial crises. By addressing new issues while enabling deeper and sharper analyses of old issues, this volume makes a significant contribution to our understanding of the global economy.

Key Features

  • Systematically illuminates and interprets recent developments in research on international trade and international macroeconomics
  • Focuses on newly developing questions and opportunities for future research
  • Presents multiple perspectives on ways to understand the global economy

Readership

Graduate students and professors worldwide working in all subdisciplines of economics and finance. Secondary audience will include researchers working in international trade and international macroeconomics

Table of Contents

  • Contributors

    Introduction to the Series

    Preface

    1: Heterogeneous Firms and Trade

    1 Introduction

    2 Empirical Evidence

    3 General Setup

    4 Closed Economy Equilibrium

    5 Open Economy with Trade Costs

    6 Quantitative Predictions

    7 Factor Abundance and Heterogeneity

    8 Trade and Market Size

    9 Endogenous Firm Productivity

    10 Factor Markets

    11 Conclusion

    References

    2: Multinational Firms and the Structure of International Trade

    1 Introduction

    2 Stylized Facts

    3 Benchmark Model: An Extended Krugman (1980) Model

    4 The Proximity-Concentration Hypothesis

    5 Vertical Expansion

    6 MultiCountry Models

    7 Multinational Firm Boundaries

    8 Conclusion

    References

    3: Gravity Equations: Workhorse,Toolkit, and Cookbook

    1 Introduction

    2 Micro-Foundations for Gravity Equations

    3 Theory-Consistent Estimation

    4 Gravity Estimates of Policy Impacts

    5 Frontiers of Gravity Research

    6 Directions for Future Research

    7 Conclusion

    References

    4: Trade Theory with Numbers: Quantifying the Consequences of Globalization

    1 Introduction

    2 Getting Started

    3 Beyond Armington

    4 Evaluating Trade Policy

    5 Numbers We Can Believe In?

    6 “Micro” versus “Macro” Numbers

    7 Life Without Gravity

    8 Concluding Remarks

    References

    5: Domestic Institutions as a Source of Comparative Advantage

    1 Introduction

    2 Contracting and Property-Right Institutions: Impacts on Comparative Advantage

    3 Informal Institutions and their Impacts on Comparative Advantage

    4 Policies and the Indirect Impacts of Institutions on Comparative Advantage

    5 The Impact of Trade and Comparative Advantage on Domestic Institutions

    6 Conclusion

    References

    6: International Trade Agreements

    1 Introduction

    2 The Motives for Trade Agreements

    3 The Design of Trade Agreements

    4 Regional Trade Agreements

    5 Conclusion

    References

    7: International Prices and Exchange Rates

    1 Introduction

    2 Empirical Evidence

    3 A Simple Framework to Interpret Empirical Findings

    4 Models with Desired Variable Markups

    5 Other Models of Incomplete Pass-through

    6 Industry Equilibrium

    7 General Equilibrium

    8 Conclusion

    9 Appendix

    References

    8: Exchange Rates and Interest Parity

    1 Exchange Rates and Interest Parity

    2 Monetary Sticky-Price Models of Exchange Rates

    3 Empirical Studies of Exchange Rates

    4 Ex Ante Excess Returns and the Uncovered Interest Parity Puzzle

    5 Conclusions

    References

    9: Assessing International Efficiency

    1 Introduction

    2 A Methodology for Assessing International Efficiency

    3 Assessing Long-Run Efficiency

    4 Assessing Efficiency in International Business Cycles

    5 Conclusion

    6 Appendix: Proof of Proposition 1

    References

    10: External Adjustment, Global Imbalances, Valuation Effects

    1 Introduction

    2 Stylized Facts

    3 Long-Term Capital Flows in the Neoclassical Growth Model

    4 Models of Global Imbalances

    5 External Balance Sheets, Valuation Effects, and Adjustment

    6 The International Monetary and Financial System

    7 Conclusion

    References

    11: Sovereign Debt

    1 Introduction: Conceptual Issues

    2 Empirical Facts

    3 A Benchmark Framework

    4 Richer Notions of “Default”

    5 Self-fulfilling Debt Crises

    6 Incomplete-Market Models and their Quantitative Implementation

    7 Concluding Remarks

    References

    12: International Financial Crises

    1 Introduction

    2 Fiscal-Monetary Imbalances

    3 Overvaluation, Unemployment, and Multiple Equilibria

    4 Financial Flows, Sudden Stops, and Balance Sheet Effects

    5 Spread Spirals and Rollover Crises

    6 Sources of Fragility

    7 Concluding Remarks

    References

    Index

Product details

  • No. of pages: 776
  • Language: English
  • Copyright: © North Holland 2014
  • Published: February 22, 2014
  • Imprint: North Holland
  • eBook ISBN: 9780444543158
  • Hardcover ISBN: 9780444543141

About the 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

Ratings and Reviews

Write a review

There are currently no reviews for "Handbook of International Economics"