Understanding Interdependence: The Macroeconomics of the Open Economy

Published by Princeton University Press 1995

Understanding Interdependence

The Macroeconomics of the Open Economy

Edited by: Peter B. Kenen

https://doi.org/10.1515/9780691231136

Overview
Contents

About this book

Drawing together new papers by some of today's leading figures in international economics and finance, Understanding Interdependence surveys the current state of knowledge on the international monetary system and, by implication, defines the research horizon for the future. Covering topics including the behavior of exchange rates, the choice of exchange-rate regime, current-account adjustment in classical and Keynesian models, the extent and effects of capital mobility, international debt, the stabilization and reform of the formerly planned economies, European monetary union, and international policy coordination, the book underscores the importance of these subjects and identifies lessons for policymakers.

The contributors to the volume are Michael Bruno, Ralph C. Bryant, Richard N. Cooper, Michael P. Dooley, Barry Eichengreen, Stanley Fischer, Charles A. E. Goodhart, Peter Hooper, Peter B. Kenen, Paul R. Krugman, Henri Lorie, Jaime Marquez, Ronald I. McKinnon, Michael Mussa, Maurice Obstfeld, John Odling-Smee, Assaf Razin, Dani Rodrik, Mark P. Taylor, and John Williamson.

Author / Editor information

Peter B. Kenen is Walker Professor of Economics and International Finance, and Director of the International Finance Section, Department of Economics, Princeton University.

Topics

Frontmatter Publicly Available Download PDF	i
Contents Publicly Available Download PDF	v
List of Figures Publicly Available Download PDF	vii
List of Tables Publicly Available Download PDF	xi
Introduction Publicly Available Download PDF	xiii
PART I: APPRAISING EXCHANGE-RATE ARRANGEMENTS
1. The Endogeneity of Exchange-Rate Regimes Barry Eichengreen Requires Authentication Unlicensed Licensed Download PDF	3
2. Exchange-Rate Behavior under Alternative Exchange-Rate Arrangements Mark Taylor Requires Authentication Unlicensed Licensed Download PDF	34
3. Panel: One Money for How Many? Richard Cooper, Ronald McKinnon and Michael Mussa Requires Authentication Unlicensed Licensed Download PDF	84
PART II: EXCHANGE RATES AND THE ADJUSTMENT PROCESS
4. Exchange Rates, Prices, and External Adjustment in the United States and Japan Peter Hooper and Jaime Marquez Requires Authentication Unlicensed Licensed Download PDF	107
5. The Dynamic-Optimizing Approach to the Current Account: Theory and Evidence Assaf Razin Requires Authentication Unlicensed Licensed Download PDF	169
PART III: THE INTEGRATION AND FUNCTIONING OF CAPITAL MARKETS
6. International Capital Mobility in the 1990s Maurice Obstfeld Requires Authentication Unlicensed Licensed Download PDF	201
7. A Retrospective on the Debt Crisis Michael Dooley Requires Authentication Unlicensed Licensed Download PDF	262
PART IV: STABILIZATION AND LIBERALIZATION
8. Trade Liberalization in Disinflation Dani Rodrik Requires Authentication Unlicensed Licensed Download PDF	291
9. Inflation and Growth in an Integrated Approach Michael Bruno Requires Authentication Unlicensed Licensed Download PDF	313
10. Panel: The Outlook for Stabilization and Reform in Central and Eastern Europe Stanley Fischer, John Lorie and John Williamson Requires Authentication Unlicensed Licensed Download PDF	368
PART V: COORDINATION AND UNION
11. International Cooperation in the Making of National Macroeconomic Policies: Where Do We Stand? Ralph Bryant Requires Authentication Unlicensed Licensed Download PDF	391
12. The Political Economy of Monetary Union Charles Goodhart Requires Authentication Unlicensed Licensed Download PDF	448
PART VI: CONCLUSION
13. What Do We Need to Know about the International Monetary System? Paul Krugman Requires Authentication Unlicensed Licensed Download PDF	509
Conference Participants Requires Authentication Unlicensed Licensed Download PDF	531
Author Index Requires Authentication Unlicensed Licensed Download PDF	535
Subject Index Requires Authentication Unlicensed Licensed Download PDF	543