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Macroeconomic theory and policy: How the closed economy was opened (P.B. Kenen). Asset markets, exchange rates, and the balance of payments (J.A. Frenkel, M.L. Mussa). The specification and influence of asset markets (W.H. Branson, D.W. Henderson). The specification of goods and factor markets in open economy macroeconomic models (N. Bruce, D. Purvis). Stabilization policies in open economies (R.C. Marston). Exchange rate dynamics (M. Obstfeld, A. Stockman). Empirical studies of exchange rates: Price behavior, rate determination and market efficiency (R.M. Levich). Income and price effects in foreign trade (M. Goldstein, M.S. Kahn). Empirical studies of macroeconomic interdependence (J.F. Helliwell, T. Padmore). International money and international monetary arrangements (S.W. Black). Economic interdependence and coordination of economic policies (R.N. Cooper).
This Handbook adopts a traditional definition of the subject, and focuses primarily on the explanation of international transactions in goods, services, and assets, and on the main domestic effects of those transactions.
The first volume deals with the "real side" of international economics. It is concerned with the explanation of trade and factor flows, with their main effects on goods and factor prices, on the allocation of resources and income distribution and on economic welfare, and also with the effects on national policies designed explicitly to influence trade and factor flows. In other words, it deals chiefly with microeconomic issues and methods.
The second volume deals with the "monetary side" of the subject. It is concerned with the balance of payments adjustment process under fixed exchange rates, with exchange rate determination under flexible exchange rates, and with the domestic ramifications of these phenomena. Accordingly, it deals mainly with economic issues, although microeconomic methods are frequently utilized, especially in work on expectations, asset markets, and exchange rate behavior.
For more information on the Handbooks in Economics series, please see our home page on http://www.elsevier.nl/locate/hes
- No. of pages:
- © North Holland 1985
- 1st January 1985
- North Holland
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@qu:It should be on the shelf of everyone seriously interested in international economics. @source:Journal of Economic Literature @qu:No one concerned with teaching or research in international trade can afford to be without a copy of this excellent book. @source:The Economic Journal @qu:... it will certainly provide an invaluable source of reference fro students and researchers alike. The survey chapters, in particular, are extremely well written and comprehensive in their coverage, representing in many respects the state of the art in the subject matter. @source:The Manchester School @qu:This book is "must" for every international trade economist. @source:The Economic Record @qu:....In conclusion, the Handbook is an important addition to the literature. Specialists in the area will find a wealth of ideas in its 1239 pages. @source:The Wall Street Review of Books @from:Russell S. Boyer @qu:The later chapters will be an important source for researchers in the area, especially the chapters on micro-analysis of demand for assets, and on empirical work on exchange rates. In all subjects the reader will find a complete record of where research stood in 1983. For that we are substantially indebted to the editors and authors. @source:The Canadian Journal of Economics @from:Jeffrey D. Sachs @qu:Like the other volumes in the North-Holland Handbook series, this one contains several well-written survey articles by leading economists in the field. It will no doubt prove useful for classroom use, and as a bibliographic source. @source:Journal of International Economics
University of Rochester, Rochester, NY, USA
Princeton University, Princeton, NJ, USA