Description
Book SynopsisPaul Krugman, the recipient of the 2008 Nobel Memorial Prize in Economic Sciences, taught at Princeton University for 14 years. In 2015, he joined the faculty of the Graduate Centre of the City University of New York, associated with the Luxembourg Income Study, which tracks and analyses income inequality around the world.
In addition to his teaching and academic research, Krugman writes extensively for non-technical audiences and is a regular op-ed columnist for the New York Times.
Maurice Obstfeld is the Class of 1958 Professor of Economics at UC Berkeley. He joined Berkeley in 1989 as a Professor, following appointments at Columbia (1979-1986) and the University of Pennsylvania (1986-1989). He was also a visiting Professor at Harvard between 1989 and 1991.
From 2014 to 2015 he was a member of President Obama's Council of Economic Advisers, and from 2015 to 2018 served as Chief Economist at the International Monetary Fund.
Table of Contents- Introduction
PART ONE: INTERNATIONAL TRADE THEORY
- World Trade: An Overview
- Labor Productivity and Comparative Advantage: The Ricardian Model
- Specific Factors and Income Distribution
- Resources and Trade: The Heckscher-Ohlin Model
- The Standard Trade Model
- External Economies of Scale and the International Location of Production
- Firms in the Global Economy: Export Decisions, Outsourcing, and Multinational Enterprises
PART TWO: INTERNATIONAL TRADE POLICY
- The Instruments of Trade Policy
- The Political Economy of Trade Policy
- Trade Policy in Developing Countries
- Controversies in Trade Policy
PART THREE: EXCHANGE RATES AND OPEN-ECONOMY MACROECONOMICS
- National Income Accounting and the Balance of Payments
- Exchange Rates and the Foreign Exchange Market: An Asset Approach
- Money, Interest Rates, and Exchange Rates
- Price Levels and the Exchange Rate in the Long Run
- Output and the Exchange Rate in the Short Run
- Fixed Exchange Rates and Foreign Exchange Intervention
PART FOUR: INTERNATIONAL MACROECONOMIC POLICY
- International Monetary Systems: A Historical Overview
- Financial Globalization: Opportunity and Crisis
- Optimum Currency Areas and the Euro
- Developing Countries: Growth, Crisis, and Reform
