International Economics
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Dominick-Salvatore-International-Economics
Problem Using the portfolio balance model presented earlier, examine the effect on the
exchange rate of (a) an increase in the domestic money supply and (b) a once-and-for-all depreciation of the domestic currency. S E L E C T E D B I B L I O G R A P H Y The purchasing-power parity theory is presented and tested empirically in: ■ G. Cassel, Money and Foreign Exchange after 1914 (New York: Columbia University Press, 1928). ■ B. Balassa, “The Purchasing Power Parity Doctrine: A Reap- praisal,” Journal of Political Economy, December 1964, pp. 584–596. ■ P. Samuelson, “Theoretical Notes on Trade Problems,” Review of Economics and Statistics, May 1964, pp. 145–154. ■ J. A. Frenkel, “Purchasing Power Parity: Doctrinal Perspec- tive and Evidence from the 1920s,” Journal of International Economics, May 1978, pp. 161–191. ■ I. B. Kravis and R. E. Lipsey, “Price Behavior in the Light of Balance of Payments Theories,” Journal of International Economics, May 1978, pp. 193–246. ■ R. I. McKinnon, Money in International Exchange (New York: Oxford University Press, 1979). ■ J. A. Frankel, “The Collapse of Purchasing Power Par- ity in the 1970’s,” European Economic Review , May 1981, pp. 145–165. ■ R. M. Levich, “Empirical Studies of Exchange Rates: Price Behavior, Rate Determination and Market Efficiency,” in R. W. Jones and P. B. Kenen, eds., Handbook of Interna- tional Economics, Vol. II (Amsterdam: North-Holland, 1985), pp. 979–1040. ■ R. Dornbusch, “Purchasing Power of Money,” in The New Palgrave (New York: Stockton Press, 1987), pp. 1075–1085. ■ J. A. Frankel, “International Capital Mobility and Crowding- Out in the U.S. Economy: Imperfect Integration of Financial Markets or Goods Markets?” in R. W. Hafer, ed., How Open Is the U.S. Economy? (Lexington, Mass.: Lexington Books, 1986, pp. 33–67. ■ J. A. Frankel, “Zen and the Art of Modern Macroeconomics: A Commentary,” in W. S. Haraf and T. D. Willet, eds., Monetary Policy for a Volatile Global Economy (Washing- ton, D.C.: American Enterprise Institute for Public Policy Research, 1990), pp. 117–123. ■ J. A. Frankel and A. K. Rose, “Empirical Research on Nomi- nal Exchange Rates,” in G. Grossman and K. Rogoff, eds., The Handbook of International Economics, Vol. III (Amsterdam: North-Holland, 1995), pp. 1689–1729. ■ K. O. Froot and K. Rogoff, “Perspectives on PPP and Long-Run Real Exchange Rates,” in G. Grossman and K. Rogoff, eds., The Handbook of International Economics, Vol. III (Amsterdam: North-Holland, 1995), pp. 1647–1688. ■ K. Rogoff, “The Purchasing Power Parity Puzzle,” Journal of Economic Literature, June 1996, pp. 647–668. ■ J. R. Lothian and M. P. Taylor, “Real Exchange Rate Behav- ior: The Recent Float from the Perspective of the Past Two Centuries,” Journal of Political Economy, September 1996, pp. 488–509. ■ R. MacDonald, “Exchange Rate Behavior: Are Fundamen- tals Important?” The Economic Journal , November 1999, pp. 673–691. ■ K. Rogoff, “Monetary Models of Dollar/Yen/Euro Nominal Exchange Rates: Dead or Alive?” The Economic Journal , November 1999, pp. 655–659. ■ A. M. Taylor, “A Century of Purchasing Power Par- ity,” Review of Economics and Statistics, February 2002, pp. 139–150. ■ L. Sarno and M. P. Taylor, “Purchasing-Power Parity and the Real Exchange Rate,” IMF Staff Papers, No. 1, 2002, pp. 65–105. ■ P. Cashin and C. J. McDermott, “An Unbiased Appraisal of Purchasing Power Parity,” IMF Staff Papers, Vol. 50, No. 3, 2003, pp. 321–351. ■ M. R. Pakko and P. S. Pollard, “Burgernomics: A Big Mac Guide to Purchasing Power Parity,” Federal Reserve Bank of Download 7.1 Mb. Do'stlaringiz bilan baham: |
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