Economic Policy, Exchange Rates, and the International System
AbstractIn an outstanding account of exchange rates inthe international monetary system, W. Max Corden considers the essential issues in international macroeconomics. The author takes as his model the macroeconomic situation of a country with an open economy, and explains the effects of domestic fiscal and monetary macroeconomic policy on exchange rates. He clearly analyses the choices faced by governments attempting to manage both the domestic inflation rate and the external exchange rate and current account balance. Professor Corden then discusses the European Exchange Rate mechanism, and provides a sceptical analysis of the possibilities for monetary union in Europe, and for international policy coordination in general. He gives equal weight to discussion of the present US-centred international monetary system outside the ERM, and combines theoretical models with an account of the actual determination of floating exchange rates. Although the book itself is orientated towards monetary rather than trade issues, the author discusses two topical issues: the role of protectionist policies, and the idea of competitiveness. Finally, he looks at the future of the international monetary system and the series of current reform proposals. Students will find this book useful because the author covers essential issues lucidly and authoritatively. The exposition is entirely non-mathematical. Postgraduate students and academics will be interested since Corden is a distinguished writer on international trade and policy, and his arguments are powerfully presented. New to this edition: This is a revised and expanded edition of a previous book by Corden, Inflation, Exchange Rates and the World Economy, the third edition of which was published in 1985. In this new book, Professor Corden has fully rewritten the text, but retains the discursive, informal, reader-friendly style of the earlier editions. In this new edition, Professor Corden has included two new chapters which extend the treatment of macroeconomic policy, separating it into its fiscal and monetary branches. He also includes a new chapter on the role of the current account balance in determining macroeconomic policy. The author has brought his account of the present international monetary context up to date - characterised as the non-system - and has included a new analysis of European monetary issues, incorporating a review of the progress of the EMS towards full monetary union. The book also contains a provocative discussion of two highly topical issues: trade protection, and competitiveness, including both new theoretical analysis and such events as the recent GATT agreement.
Download InfoTo our knowledge, this item is not available for download. To find whether it is available, there are three options:
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.
Bibliographic InfoThis book is provided by Oxford University Press in its series OUP Catalogue with number 9780198774099 and published in 1994.
Contact details of provider:
Web page: http://www.oup.com/
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- de la Escosura, Leandro Prados, 2009.
"Spain's International Position, 1850-1913,"
CEPR Discussion Papers
7591, C.E.P.R. Discussion Papers.
- Prados de la Escosura, Leandro, . "Spain´s International Position, 1850-1913," Open Access publications from Universidad Carlos III de Madrid info:hdl:10016/5516, Universidad Carlos III de Madrid.
- Prados de la Escosura, Leandro, . "Spain's international position, 1850-1913," Open Access publications from Universidad Carlos III de Madrid info:hdl:10016/10202, Universidad Carlos III de Madrid.
- Leandro Prados de la Escosura, 2009. "Spain´s International Position, 1850-1913," Working Papers in Economic History wp09-09, Universidad Carlos III, Departamento de Historia Económica e Instituciones.
- Ramkishen S. Rejan, 1998. "The Currency And Financial Crisis In Southeast Asia - A Case Of `Sudden Deathã¢Â‚¬Â„¢ Or `Death Foretoldã¢Â‚¬Â„¢," Macroeconomics Working Papers 22381, East Asian Bureau of Economic Research.
- Sebastian Edwards, 2006.
"The U.S. Current Account Deficit: Gradual Correction or Abrupt Adjustment?,"
NBER Working Papers
12154, National Bureau of Economic Research, Inc.
- Edwards, Sebastian, 2006. "The U.S. current account deficit: Gradual correction or abrupt adjustment?," Journal of Policy Modeling, Elsevier, vol. 28(6), pages 629-643, September.
- Christian Saborowski, 2009. "Capital Inflows and the Real Exchange Rate: Can Financial Development Cure the Dutch Disease?," IMF Working Papers 09/20, International Monetary Fund.
- Katsimi, Margarita & Moutos, Thomas, 2010. "EMU and the Greek crisis: The political-economy perspective," European Journal of Political Economy, Elsevier, vol. 26(4), pages 568-576, December.
- Prema-chandra Athukorala & Sarath Rajapatirana, 2003.
"Capital Inflows and the Real Exchange Rate: A Comparative Study of Asia and Latin America,"
Departmental Working Papers
2003-02, The Australian National University, Arndt-Corden Department of Economics.
- Prema-Chandra Athukorala & Sarath Rajapatirana, 2003. "Capital Inflows and the Real Exchange Rate: A Comparative Study of Asia and Latin America," The World Economy, Wiley Blackwell, vol. 26(4), pages 613-637, 04.
- repec:fip:fedgif:1055 is not listed on IDEAS
- Rod Tyers & Ling Huang, 2009.
"Combating China’s Export Contraction: Fiscal Expansion or Accelerated Industrial Reform?,"
Economics Discussion / Working Papers
09-15, The University of Western Australia, Department of Economics.
- Rod Tyers & Ling Huang, 2009. "Combating China'S Export Contraction: Fiscal Expansion Or Accelerated Industrial Reform?," CAMA Working Papers 2009-02, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
- Rod Tyers & Ling Huang, 2009. "Combating China's Export Contraction: Fiscal Expansion or Accelerated Industrial Reform?," ANU Working Papers in Economics and Econometrics 2009-501, Australian National University, College of Business and Economics, School of Economics.
- Ruslan Aliyev, 2012. "Monetary Policy in Resource-Rich Developing Economies," CERGE-EI Working Papers wp466, The Center for Economic Research and Graduate Education - Economic Institute, Prague.
- Ben Naceur, Sami & Bakardzhieva, Damyana & Kamar, Bassem, 2012. "Disaggregated Capital Flows and Developing Countries’ Competitiveness," World Development, Elsevier, vol. 40(2), pages 223-237.
- Mario Catalan & Nicolas E. Magud, 2012. "A Tradeoff between the Output and Current Account Effects of Pension Reform," IMF Working Papers 12/283, International Monetary Fund.
- Salvatore, Dominick, 1995. "The operation and future of the international monetary system," Journal of Policy Modeling, Elsevier, vol. 17(5), pages 513-530, October.
- Swift, Robyn, 2004. "Exchange rate changes and endogenous terms of trade effects in a small open economy," Journal of Macroeconomics, Elsevier, vol. 26(4), pages 737-745, December.
- Rod Tyers, 2012. "The Rise and Robustness of Economic Freedom in China," Economics Discussion / Working Papers 12-02, The University of Western Australia, Department of Economics.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Economics Book Marketing).
If references are entirely missing, you can add them using this form.