Global Imbalances, Exchange Rates and Stabilization Policy
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Global Imbalances, Exchange Rates and Stabilization Policy

Global Imbalances, Exchange Rates and Stabilization Policy


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About the Book

As Economies become more integrated with the rest of the world, the need to better understand their international monetary linkages becomes ever more important. This book analyzes key international monetary issues from a macro-foundations perspective, focusing on economy-wide variables that form the basis of real-world macroeconomic policy analysis. It proposes novel frameworks to interpret real and financial sector linkages for globally integrated economies. Issues examined include: global imbalances, exchange rates, foreign reserves, interest rates, international capital flows, inflation, external and public debt, as well as the effectiveness of monetary and fiscal policy under different exchange rate regimes. Drawing heavily upon much-neglected precepts, such as the output-absorption distinction and traditional flow-of-funds analysis, the book provides an alternative to the micro-founded approach of the prevalent international macroeconomics paradigm, and to earlier aggregative models. By emphasizing the production side of the economy as the starting point for analysis, unique frameworks yield results about the efficacy of macroeconomic policy under both fixed and floating exchange rate regimes that differ from those derived from standard aggregate demand oriented approaches.

Table of Contents:
Introduction The Global Economy and External Imbalances Global Imbalances and Exchange Rates External Imbalances and National Income International Capital Mobility and National Income External Imbalances, Exchange Rates and Interest Rates Money, Exchange Rates and the Balance of Payments Stabilisation Policy, Interest Rates and National Income Real Exchange Rate, External Imbalances and National Income Select Stabilisation Policy Issues Epilogue

About the Author :
ANTHONY J. MAKIN is Professor of Economics at Griffith University, Australia. He previously served as a senior economist in the Australian departments of Finance and Treasury and with the IMF Institute in Singapore. He has represented Australia at Pacific Economic Co-operation Council conferences and published widely on international macroeconomic theory and policy issues.


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Product Details
  • ISBN-13: 9780230250758
  • Binding: Digital (delivered electronically)
  • ISBN-10: 0230250750


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