Fiscal Policies and Growth in the World Economy / Edition 3

Fiscal Policies and Growth in the World Economy / Edition 3

by Jacob A. Frenkel, Assaf Razin, Assaf Razin
     
 

Covering a full array of topics in open economy macro and public economics, Fiscal Policies and Growth in the World Economy has been thoroughly revised and extended. The added material in this new edition includes stochastic rational-expectations extensions of the Mundell-Fleming model, the development of a dynamic-optimizing approach of the trade balance, and an

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Overview

Covering a full array of topics in open economy macro and public economics, Fiscal Policies and Growth in the World Economy has been thoroughly revised and extended. The added material in this new edition includes stochastic rational-expectations extensions of the Mundell-Fleming model, the development of a dynamic-optimizing approach of the trade balance, and an entirely new part on issues of international economic convergence, which also contains a comprehensive policy overview.Other chapters have been updated or reorganized, and there is a brief guide to solving typical dynamic macro problems along with a printout of software suitable for numerical simulations. A companion diskette containing solutions in dynamic macro problems and some sample programs is available in GAUSS for IBM. The exercises and solutions manual by Krueger, Ostry, and Yuen has also been updated and extended.Fiscal Policies and Growth in the World Economy has been used successfully in graduate and senior undergraduate courses in international economics and public finance. The objective of this new edition remains the same as before: to treat the major topics in macro and public economics using both traditional and modern approaches. The traditional approach is first explained, from the simple income-expenditure model to the more advanced stochastic Mundell-Fleming model. The modern intertemporal approach is then presented, starting with the simple two-period model and extending it to a full-fledged dynamic model. Other sections review recent developments in the world economy; government spending, budget deficits, and differences across international taxation; and economic growth in the world economy,
especially the convergence of income and growth levels across countries.

The MIT Press

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Product Details

ISBN-13:
9780262561044
Publisher:
MIT Press
Publication date:
10/01/1996
Edition description:
third edition
Pages:
663
Product dimensions:
5.90(w) x 9.00(h) x 1.40(d)
Age Range:
18 Years

Table of Contents

Preface to the Second Edition
Preface to the First Edition
IPrologue
1Stylized Facts on Fiscal Policies and International Economic Interdependence1
IITraditional Approaches to Fiscal Policies and International Economic Interdependence17
2The Income-Expenditure Model: Fiscal Policies and the Determination of Output19
3Fiscal Policies and International Capital Mobility in the Income-Expenditure Model49
Problems103
IIIElements of Intertemporal Macroeconomics109
4The Composite-Commodity World111
5The Multiple-Good World137
Problems151
IVAn Intertemporal Approach to Fiscal Policies in the World Economy159
6Government Spending161
7Budget Deficits with Nondistortionary Taxes: The Pure Wealth Effect195
8An Exposition of the Two-Country Overlapping-Generations Model219
VDistortionary Tax Incentives: Concepts and Applications255
9Equivalence Relations in International Taxation257
10Budget Deficits with Distortionary Taxes277
11Fiscal Policies and the Real Exchange Rate291
12Capital Income Taxation in the Open Economy315
Problems325
VIStochastic Fiscal Policies331
13International Stock Markets and Fiscal Policy333
Problems348
VIIInternational Spillovers of Tax Policies: A Simulation Analysis353
14Spillover Effects of International VAT Harmonization355
15Spillover Effects of Budget Deficits391
VIIIEpilogue397
16Analytical Overview399
17Bibliographical Notes419
Index449

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