Macroeconomic Policy in Open Economies

by Michelle Fratianni, Dominick Salvatore, Juergen von Hagen

Overview

Focusing on the international dimension of macroeconomic policy, this handbook covers the main areas of modern macroeconomic policy in open economies. The emphasis is on policy applications rather than the development of economic theory. There are three basic goals: (1) an understanding of how economic theories affect actual policy making, (2) a description of the institutional and conceptual development of the international economy, and (3) an explanation of the way policy-making institutions deal with the so-called international economy.

The handbook consists of an introductory chapter and four parts. The first treats macroeconomic policy-making from the home country versus the rest of the world perspective. The second part stresses policies among interacting and reacting countries. The third part considers the development of world capital markets and the international monetary system as important parts of the policy environment. The final part details macroeconomic policies in the G7 and Latin American countries.

Product Details

ISBN-13:	9780313289897
Publisher:	Bloomsbury Academic
Publication date:	05/28/1997
Series:	Handbook of Comparative Economic Policies , #5
Pages:	600
Product dimensions:	6.00(w) x 9.00(h) x 1.44(d)

About the Author

MICHELE U. FRATIANNI is AMOCO Professor of Business Economics and Public Policy at Indiana University. He is the author of 13 books and many articles on macroeconomics, monetary economics, international finance, and public choice.

DOMINICK SALVATORE is Department Chair and Professor of Economics at Fordham University. He is president of the International Trade and Finance Association, vice-president of the New York Academy of Sciences, and consultant to the United Nations in New York and the Economic Policy Institute in Washington. His books include International Economics (1995, 5th ed.), Managerial Economics in a Global Economy (1996, 3rd ed.), Economic Development (Greenwood, 1994), and Monetary Policy in Developed Economies (Greenwood, 1992).

JÜRGEN VON HAGEN is Professor of Business Economics and Public Policy and Professor of Economics at the University of Mannheim, Germany. His research interests have focused on monetary policy and control with empirical applications for West Germany and the U.S.

Table of Contents

Introduction and Summary by Michele Fratianni, Dominick Salvatore, and Jürgen von Hagen
Macroeconomic Policy for the Open Economy
Paradigms of Macroeconomic Policy for the Open Economy by Paul de Grauwe
Open Economy Strategies and Domestic Policy Goals by Joshua Aizenman
Macroeconomic Policy Among Open Economies
International Economic Policy Coordination: Theory and Policy Implications by Kiochi Hamada and Masahiro Kawai
Empirical Evidence on International Economic Policy Coordination by Warwick J. McKibbin
The Political Economy of International Policy Coordination by Helen Milner
The International Financial System
The International Monetary Fund and the International Monetary System by Margaret Garritsen deVries
Macro Economic Policies and World Financial Integration by George Tavlas and P.A.V.B. Swamy
Macroeconomic Policy in Individual Countries
The International Dimension of Macroeconomic Policies in the U.S. by John Tatom
The International Dimension of Macroeconomic Policies in Germany by Harmen Lehment
The International Dimension of Macroeconomic Policies in Japan by Thomas F. Cargill and Michael M. Hutchison
The International Dimension of Macroeconomic Policies in the U.K. by Michael Artis
The International Dimension of Macroeconomic Policies in France by Paul Masson
The International Dimension of Macroeconomic Policies in Italy by Mario Arcelli and Stefano Micossi
The International Dimension of Macroeconomic Policies in Canada by Thomas Courchene
The International Dimension of Macroeconomic Policies in Latin America by Sebastian Edwards
Index

Editorial Reviews

Covers the main areas of macroeconomic policy in open economies, with emphasis on policy applications rather than economic theory. Explains how economic theories affect actual policy making, describes the institutional and conceptual development of the international economy, and explains the way national policy-making institutions deal with the international economy. Contains sections on macroeconomic policy for the open economy, policies among interacting and reacting countries, the development of world capital markets and the international monetary system as parts of the policy environment, and macroeconomic policies in the G7 countries and Latin America. Annotation c. by Book News, Inc., Portland, Or.

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