|
IVB. Open-economy macroeconomics |
| Days 33-34: |
IVB1. Long run analysis |
| Readings: |
Mankiw, text
selections from Macroeconomics (1992) |
| Handouts: |
Open-economy macroeconomics:
the long run
Open-economy
macro: long-run analysis: recap |
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|
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IVB2. Short-run policy effects with floating exchange rates |
| Day 35: |
IVB2a. Basic analysis |
| Readings: |
Text: 19 (pp.386-388); 23
Whitney, A
foreign exchange-market geometry for open-economy macroceconomics |
| Handouts: |
Open-economy
macroeconomics: short-run analysis |
| |
|
| Day 36: |
IVB2b. The J-Curve |
| Readings: |
Text: 22 (pp.492-496) |
| Handouts: |
The
J-curve
Devaluation
case studies |
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|
| Day 37-38: |
IVB3. Open economy macroeconomics with fixed exchange rates |
| Readings: |
Text: 20; 22 (pp.462-492) |
| Hantouts: |
Fixed exchange rates: The
case of Argentina
Open-economy macroeconomic
policy: fixed exchange rates |
| |
|
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IVB4. Current topics in open economy macroeconomics |
| Day 39: |
IVB4a. The Asian financial crisis |
| Readings: |
Krugman, Whatever
happened to the Asian miracle? (1997)
Pine, Questions
and answers about the IMF (1998)
Radelet and Sachs, Asia's
Reemergence (1997)
Fischer, In
Defense of the IMF (1998)
Peterson, Despite
Global Woes, U.S. Economy Prospers |
| Handouts: |
Interfinancial
financial crises: background data |
| |
|
| Day 40: |
IVB4b. Fixed versus floating exchange rates: The euro, etc. |
| Readings: |
Text: 26 (pp.569-581); 24
European Commission, EURO
1999, Convergence Report 1998
Obstfeld, The
global capital market: benefactor or menace? (1998)
Mundell, What
the Euro means for the dollar and the inernational monetary system (1998) |
| Handouts: |
Maastricht and the European
Monetary System: 1991
The Euro: 1999 |
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|
| End of term: |
Exam 3 (For review: Past
exams online) |
