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  • 1
    UID:
    b3kat_BV010561694
    Format: XXVIII S., S. 1243 - 2107 , graph. Darst.
    ISBN: 0444867937 , 0444815473
    Series Statement: Handbooks in economics 3,3
    In: 3
    Language: English
    Subjects: Economics
    RVK:
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  • 2
    Online Resource
    Online Resource
    Amsterdam [u.a.] : Elsevier
    UID:
    b3kat_BV040922135
    Format: 1 Online-Ressource
    ISBN: 9780444867926 , 9780444867933 , 9780444815477 , 9780444543141
    Series Statement: Handbook in economics 3
    Note: Bd. 1 (1984) bis Bd. 6 (2022) im Rahmen einer Nationallizenz (ZDB-1-HBE) verfügbar.
    Language: English
    Keywords: Welthandel ; Weltwirtschaft ; Aufsatzsammlung
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  • 3
    UID:
    gbv_789744562
    Format: Online Ressource (xiii, 625-1239 pages) , illustrations.
    Edition: Online-Ausg.
    ISBN: 0444867937 , 9780444867933
    Series Statement: Handbooks in economics bk. 2
    Content: 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
    Content: 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
    Note: Includes bibliographical references and indexes. - Print version record , v. 2. Macroeconomic theory and policy : how the closed economy was opened , The specification and influence of asset markets , The specification of goods and factor markets in open economy macroeconomic models , Stabilization policies in open economies , Exchange rate dynamics , Empirical studies of exchange rates : price behavior, rate determination and market efficiency , Income and price effects in foreign trade , Empirical studies of macroeconomic interdependence , International money and international monetary arrangements , Economic interdependence and coordination of economic policies
    Language: English
    Subjects: Economics
    RVK:
    RVK:
    Keywords: Weltwirtschaft ; Welthandel ; Electronic books
    URL: Volltext  (Deutschlandweit zugänglich)
    Author information: Kenen, Peter B. 1932-2012
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  • 4
    UID:
    gbv_1831647346
    ISBN: 0444867937
    In: Handbook of international economics, Amsterdam : North Holland, 1985, (1985), Seite v, 0444867937
    In: 9780444867933
    In: year:1985
    In: pages:v
    Language: English
    URL: Volltext  (Deutschlandweit zugänglich)
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  • 5
    UID:
    gbv_1831647230
    ISBN: 0444867937
    Content: This chapter presents some empirical results from studies of macroeconomic interdependence. It focuses on studies that involve linked macroeconometric models of two or more countries. It presents specific versions of the models and analysis with special attention to the role of exchange rates in international transmission. The chapter classifies the main linkage projects, paying special attention to those features of the models that have important bearing on the international transmission of disturbances under fixed and flexible exchange rates. It discusses the international repercussions of fiscal policy, monetary policy, and changes in world oil prices. Empirical studies of macroeconomic interdependence have been producing useful results for over a decade. The earliest studies were mainly of two types: large multilateral projects based mainly on linkage through trade flows and trade prices, and bilateral or few-country models with a more complete and consistent modeling of trade, capital, exchange rate, and, occasionally, migration linkages. Recently, the availability of better multi-country data sets has made possible the construction of many-country models based on consistent aggregate theoretical structures and emphasizing monetary and exchange rate linkages. At the same time, forecasting models such as Project LINK, the OECD INTERLINK, and the EEC Eurolink models have moved some way toward a complete specification of monetary and capital account linkages, and modelers have been examining and ironing out unnecessary differences among the structures of the individual country models.
    In: Handbook of international economics, Amsterdam : North Holland, 1985, (1985), Seite 1107-1151, 0444867937
    In: 9780444867933
    In: year:1985
    In: pages:1107-1151
    Language: English
    URL: Volltext  (Deutschlandweit zugänglich)
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  • 6
    UID:
    gbv_1831647273
    ISBN: 0444867937
    Content: This chapter discusses that the modern open economy is not the one found in most macroeconomic textbooks, an economy that occasionally imports Bordeaux wine but which produces most of what it consumes at prices determined domestically. It is rather an economy integrated with those abroad through commodity and financial linkages that limit the scope for national stabilization policy. The progressive modifications are classified into three categories: capital mobility; wage and price flexibility; and rational expectations and the natural rate hypothesis. The chapter examines standard propositions about policy using rational expectations and a stochastic supply function. The same model is used to re-examine the choice between exchange rate regimes and the insulating properties of flexible rates. The chapter focuses on a single national economy. This economy is assumed to produce its own good and to issue its own interest-bearing bond. In limiting cases commodity arbitrage pegs the price of the good at purchasing power parity and financial arbitrage pegs the interest rate at interest parity.
    In: Handbook of international economics, Amsterdam : North Holland, 1985, (1985), Seite 859-916, 0444867937
    In: 9780444867933
    In: year:1985
    In: pages:859-916
    Language: English
    URL: Volltext  (Deutschlandweit zugänglich)
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  • 7
    UID:
    gbv_1831647303
    ISBN: 0444867937
    Content: This chapter reviews developments in international monetary economics from the late 1960s through the early 1980s. It discusses that the “monetary approach to the balance of payments” was the economic determinants of the behavior of the balance of payments, especially, the theoretical elaboration and empirical investigation of the dynamic mechanism of balance of payments adjustment. Recent research on macroeconomics, for both closed and open economies, expresses far less confidence in the ability of governments to systematically affect levels of national income and consistently maintain full employment through policy manipulation. The chapter discusses that in earlier work on exchange rate theory, the condition for equilibrium in the flow market for foreign exchange transactions has been regarded as the proximate determinant of the exchange rate. In some analyses, expectations of future exchange rates had an important influence on current exchange rates by affecting speculative capital flows. The chapter also provides modern analysis of the dynamics of balance of payments adjustment under fixed exchange rates beginning with a simple exposition of the key elements of the monetary mechanism of balance of payments adjustment. Finally, the chapter also deals with the theory of flexible exchange rates. The evolution of the international monetary system from a regime of pegged exchange rates into a regime of flexible rates resulted in a renewed interest in the theory of exchange rate determination.
    In: Handbook of international economics, Amsterdam : North Holland, 1985, (1985), Seite 679-747, 0444867937
    In: 9780444867933
    In: year:1985
    In: pages:679-747
    Language: English
    URL: Volltext  (Deutschlandweit zugänglich)
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  • 8
    UID:
    gbv_1831647281
    ISBN: 0444867937
    Content: The art of macroeconomic model-building involves making strategic choices among a wide range of alternatives. Theoretical models range from the equation of exchange of the simple quantity theory to vast dynamic models involving many sectors and many agents and which defy analytical solutions. The chapter focuses on theoretical models and considers the implications for open-economy models of alternative assumptions that are made when specifying goods and factor markets. It presents two simple benchmark models: one that focuses completely on monetary factors at the expense of neglecting structural considerations entirely, and the other that focuses on structural factors but that fails to provide a complete model capable of determining the endogenous variables. The two benchmark models are combined under the assumption that real national output and income are constant. The chapter introduces the role of the labor market and discusses the possibility of unemployment. In turn this creates room for output movements as part of the adjustment process, either as a result of changes in unemployment or as a result of endogenous changes in the equilibrium level of output because of changes in equilibrium relative prices. Finally, the chapter discusses the inter-temporal models that focus on the long-run aspects of savings, investment, and international capital movements.
    In: Handbook of international economics, Amsterdam : North Holland, 1985, (1985), Seite 807-857, 0444867937
    In: 9780444867933
    In: year:1985
    In: pages:807-857
    Language: English
    URL: Volltext  (Deutschlandweit zugänglich)
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  • 9
    UID:
    gbv_1831647214
    ISBN: 0444867937
    Content: The term “economic interdependence” has come into widespread use during the past decade. The chapter addresses the various meanings of this term, the possible reasons for increased economic interdependence on some of its meanings, and the implications of that increased economic interdependence for the functioning of national economies, including national economic policy. Economic interdependence refers to some measure of the value of economic transactions between two countries, or between a country and the rest of the world, perhaps scaled to total national output or to some measure of total financial assets. The responses to increased economic interdependence have varied in character and direction. One response involves steps toward disintegration, to reduce the interdependence and restore some freedom of action to national policy-makers. A second response involves attempts to coordinate national policy actions in one fashion or another, sometimes through conscious collaboration among nations, sometimes by one nation attempting to impose its preferred course of action on others. A third response involves the search for new policy instruments not subject to the same degree of erosion as the traditional instruments, or even choosing instruments that capitalize on the increased economic openness and mobility. New barriers to foreign trade and international movement of capital are examples of disintegration, of efforts to reduce interdependence by providing for increased separation among national markets.
    In: Handbook of international economics, Amsterdam : North Holland, 1985, (1985), Seite 1195-1234, 0444867937
    In: 9780444867933
    In: year:1985
    In: pages:1195-1234
    Language: English
    URL: Volltext  (Deutschlandweit zugänglich)
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  • 10
    UID:
    gbv_1831647222
    ISBN: 0444867937
    Content: This chapter examines the current research on the basic purpose and functions of international monetary arrangements. The terms and conditions under which assets denominated in different currencies may be exchanged for each other are related both to the intrinsic worth or “purchasing power” of the different currencies and to restrictions imposed by the issuers of currencies, as influenced by the agreed rules of the system. At the heart of such a system are the rules for financing and adjusting payments imbalances to insure continued convertibility. Research is done on the demand for reserve assets that is in principle dependent on the design of the system, because it depends upon the chosen mix between adjustment and financing of payments imbalances. Thus one considers the effects of floating exchange rates, the degree of capital mobility, central bank intervention in exchange markets, and the use of private bank financing of payments imbalances on the demand for reserve assets. The chapter also discusses the optimal design of international monetary arrangements. There is a potentially wide choice of degree of flexibility of exchange rates and degree of reliance on markets as opposed to institutions. Given national preferences and behavior, recent analysis discusses how national policies interact under different sets of international monetary arrangements. Such analysis leads to proposals for changes in the design of the system to improve the international distribution of income, to improve control over the growth of international reserve assets, and to improve the macroeconomic performance of the world economy as it is affected by the interaction of national economic policies.
    In: Handbook of international economics, Amsterdam : North Holland, 1985, (1985), Seite 1153-1193, 0444867937
    In: 9780444867933
    In: year:1985
    In: pages:1153-1193
    Language: English
    URL: Volltext  (Deutschlandweit zugänglich)
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