International Macroeconomics, 5th Edition Robert Feenstra, Alan Taylor
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- Business
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About this ebook
The 5th edition of International Macroeconomics by Robert C. Feenstra and Alan M. Taylor covers the following core topics and chapters organized across four primary parts: [1]
Part 1: Introduction to International Macroeconomics
- Chapter 1: The Global Macroeconomy – An overview of the global economic landscape, defining key macroeconomic metrics, and establishing the groundwork for open-economy analysis. [1]
Part 2: Exchange Rates
- Chapter 2: Introduction to Exchange Rates and the Foreign Exchange Market – Mechanisms of the Forex market, exchange rate definitions, and basic trade interactions. [1]
- Chapter 3: Exchange Rates I: The Monetary Approach in the Long Run – Explores long-run exchange rate determination, monetary policy, prices, and Purchasing Power Parity (PPP). [1]
- Chapter 4: Exchange Rates II: The Asset Approach in the Short Run – Looks at short-run variations driven by the asset market, interest rates, and Uncovered Interest Parity (UIP). [1]
Part 3: The Balance of Payments
- Chapter 5: National and International Accounts: Income, Wealth, and the Balance of Payments – The framework for tracking a nation's double-entry bookkeeping, including the current account, financial account, and capital account. [1]
- Chapter 6: Balance of Payments I: The Gains from Financial Globalization – Focuses on how global financial integration affects consumption smoothing, investment, and risk sharing. [1]
- Chapter 7: Balance of Payments II: Output, Exchange Rates, and Macroeconomic Policies in the Short Run – Introduces open-economy short-run models (such as IS-LM-FX) to evaluate monetary and fiscal policies. [1]
Part 4: Applications and Policy Issues
- Chapter 8: Fixed Versus Floating: International Monetary Experience – Compares different exchange rate regimes, the trilemma (impossible trinity), and historical contexts.
- Chapter 9: Exchange Rate Crises: How Pegs Work and How They Break – Examines speculative attacks, policy trade-offs, and currency defaults.
- Chapter 10: The Euro: Economics and Politics – Details the theory of Optimum Currency Areas (OCAs) alongside the structural realities of the Eurozone.
- Chapter 11 (Online Only): Topics in International Macroeconomics – Features supplementary deep-dives into advanced global macroeconomic issues. [1]
Key Updates and Focus Areas in the 5th Edition
Compared to previous iterations, this edition explicitly highlights: [1]
- Financial Globalization: Extended focus on the risks and gains for poor and developing nations.
- The Zero-Lower Bound (ZLB): Contemporary monetary policy applications addressing liquidity traps following the Global Financial Crisis and the COVID-19 recession.
- Eurozone Shifts: Refreshed analysis of structural institutional updates in the European Union, including the definitive impacts of Brexit. [1]
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