Overview
An essential introduction to one of the most timely and important subjects in economics International Macroeconomics presents a rigorous and theoretically elegant treatment of real-world international macroeconomic problems, incorporating the latest economic research while maintaining a microfounded, optimizing, and dynamic general equilibrium approach. This one-of-a-kind textbook introduces a basic model and applies it to fundamental questions in international economics, including the determinants of the current account in small and large economies, processes of adjustment to shocks, the determinants of the real exchange rate, the role of fixed and flexible exchange rates in models with nominal rigidities, and interactions between monetary and fiscal policy. The book confronts theoretical predictions using actual data, highlighting both the power and limits of given theories and encouraging critical thinking. Provides a rigorous and elegant treatment of fundamental questions in international macroeconomics Brings undergraduate and master's instruction in line with modern economic research Follows a microfounded, optimizing, and dynamic general equilibrium approach Addresses fundamental questions in international economics, such as the role of capital controls in the presence of financial frictions and balance-of-payments crises Uses real-world data to test the predictions of theoretical models Features a wealth of exercises at the end of each chapter that challenge students to hone their theoretical skills and scrutinize the empirical relevance of models Accompanied by a website with lecture slides for every chapter
Full Product Details
Author: Stephanie Schmitt-Grohé ,
Martín Uribe ,
Michael Woodford
Publisher: Princeton University Press
Imprint: Princeton University Press
ISBN: 9780691170640
ISBN 10: 0691170649
Pages: 482
Publication Date: 06 September 2022
Audience:
College/higher education
,
Professional and scholarly
,
Tertiary & Higher Education
,
Professional & Vocational
Format: Hardback
Publisher's Status: Active
Availability: Temporarily unavailable
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Author Information
Stephanie Schmitt-Groh is professor of economics at Columbia University. Martn Uribe is professor of economics at Columbia and the coauthor (with Stephanie Schmitt-Groh) of Open Economy Macroeconomics (Princeton). Michael Woodford is the John Bates Clark Professor of Political Economy at Columbia and the author of Interest and Prices: Foundations of a Theory of Monetary Policy (Princeton).
