Publisher's Synopsis
This volume brings together twenty path–breaking researchers to provide a completely up–to–date survey of the most exciting recent developments in international monetary economics.
The Handbook begins with expositions of three different theoretical foundations of open economy macroeconomics: quantity constraints and rationing, imperfect competition and real competitive business cycles. These are followed by surveys on international fiscal policy coordination and on capital taxation in the global economy. After a history of the international monetary system there are expositions on the optimal exchange rate regime, speculative attacks and exchange rate bands. These are accompanied by chapters on stylized facts on nominal exchange rate returns, international capital markets and currency substitution. The final chapters cover sovereign debt, growth and external debt, saving, investment and the current account and endogenous growth and deficits in interdependent economies.
The volume is an essential resource for advanced undergraduate and postgraduate students who need to keep abreast of the major developments in international monetary economics.
