A01=Martin Uribe
A01=Stephanie Schmitt-Grohe
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Age Group_Uncategorized
Aggregate demand
Author_Martin Uribe
Author_Stephanie Schmitt-Grohe
automatic-update
Balance of trade
Budget constraint
Business cycle
Capital control
Category1=Non-Fiction
Category=JPQB
Category=KCA
Category=KCB
Category=KFF
Central bank
Competitive equilibrium
Composite good
COP=United States
Creditor
Currency
Current account
Current Income
Debt
Debt limit
Deleveraging
Delivery_Delivery within 10-20 working days
Depreciation
Devaluation
Developed country
Economic equilibrium
Economy
Elasticity of substitution
eq_bestseller
eq_business-finance-law
eq_isMigrated=2
eq_nobargain
eq_non-fiction
eq_society-politics
Exchange rate
Exchange-rate pass-through
External debt
Externality
Fixed exchange-rate system
Haircut (finance)
Household
Income
Inflation
Interest rate
Investment
Involuntary unemployment
Language_English
Long run and short run
Marginal cost
Marginal propensity to consume
Market clearing
Market liquidity
Monetary authority
Monetary policy
MXN
Nominal rigidity
Optimal tax
Overshooting model
PA=Available
Pareto efficiency
Phillips curve
Precautionary savings
Prediction
Present value
Price_€50 to €100
Profit maximization
PS=Active
Purchasing power
Real interest rate
Real rigidity
Real versus nominal value (economics)
Real wages
Recession
Relative price
Risk aversion
softlaunch
Sovereign default
Standard deviation
Substitution effect
Supply and demand
Tax
Technology shock
Terms of trade
Total factor productivity
Unemployment
Utility
Walras' law
Welfare cost of business cycles
Product details
- ISBN 9780691158778
- Weight: 1474g
- Dimensions: 178 x 254mm
- Publication Date: 04 Apr 2017
- Publisher: Princeton University Press
- Publication City/Country: US
- Product Form: Hardback
- Language: English
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A cutting-edge graduate-level textbook on the macroeconomics of international trade Combining theoretical models and data in ways unimaginable just a few years ago, open economy macroeconomics has experienced enormous growth over the past several decades. This rigorous and self-contained textbook brings graduate students, scholars, and policymakers to the research frontier and provides the tools and context necessary for new research and policy proposals. Martin Uribe and Stephanie Schmitt-Grohe factor in the discipline's latest developments, including major theoretical advances in incorporating financial and nominal frictions into microfounded dynamic models of the open economy, the availability of macro- and microdata for emerging and developed countries, and a revolution in the tools available to simulate and estimate dynamic stochastic models.
The authors begin with a canonical general equilibrium model of an open economy and then build levels of complexity through the coverage of important topics such as international business-cycle analysis, financial frictions as drivers and transmitters of business cycles and global crises, sovereign default, pecuniary externalities, involuntary unemployment, optimal macroprudential policy, and the role of nominal rigidities in shaping optimal exchange-rate policy. Based on courses taught at several universities, Open Economy Macroeconomics is an essential resource for students, researchers, and practitioners. * Detailed exploration of international business-cycle analysis* Coverage of financial frictions as drivers and transmitters of business cycles and global crises* Extensive investigation of nominal rigidities and their role in shaping optimal exchange-rate policy* Other topics include fixed exchange-rate regimes, involuntary unemployment, optimal macroprudential policy, and sovereign default and debt sustainability* Chapters include exercises and replication codes
Martin Uribe is professor of economics at Columbia University and a research associate at the National Bureau of Economic Research. He is a coeditor of the Journal of International Economics. Stephanie Schmitt-Grohe is professor of economics at Columbia University, a research associate at the National Bureau of Economic Research, and a research fellow at the Center for Economic and Policy Research.
