Ebook: International economics

Machine generated contents note: ch. 1 An Introduction to International Trade -- Characteristics of National Economies -- Economic Growth -- International Trade -- The Direction of International Trade -- What Goods do Countries Trade? -- Summary -- Exercises -- ch. 2 Tools of Analysis for International Trade Models -- Some Methodological Preliminaries -- The Basic Model: Assumptions -- Global Insights 2.1 World Response to Higher Relative Price of Oil -- The Basic Model: Solutions -- Measuring National Welfare -- National Supply and Demand -- Summary -- Exercises -- Appendix 2.1 Derivation of National Supply and Demand Curves -- ch. 3 The Classical Model of International Trade -- Absolute Advantage as a Basis for Trade: Adam Smith's Model -- Comparative Advantage as a Basis for Trade: David Ricardo's Model -- The General Equilibrium Solution of the Classical Model -- The Gains from International Trade -- Global Insights 3.1 Japan's Gains from Entry into World Trade in 1858;Note continued: Global Insights 10.1 The Dutch Disease -- International Flows of Factors -- Labor -- Capital -- Economic Analysis -- Global Insights 10.2 U.S. Outsourcing -- Summary -- Exercises -- References -- ch. 11 The Balance of Payments -- Introduction to Balance-of-Payments Accounting -- Current Account Entries -- Financial Accounts Entries -- Measures of the Balance of Payments -- Current Account Balance -- Global Insights 11.1 Is the U.S. Current Account Deficit Sustainable? -- Official Settlements Balance -- Transactions Classifications -- Balance-of-Payments Equilibrium and Adjustment -- Summary -- Exercises -- References -- ch. 12 The Foreign-Exchange Market -- Spot Rates -- Global Insights 12.1 Exchange Rate Indexes -- Forward Rates -- Arbitrage -- The Futures Market -- Foreign Currency Options -- The Foreign Exchange Market and the Balance of Payments (BOP) -- Summary -- Exercises -- References -- ch. 13 International Monetary Systems;Note continued: Trade and Wages -- Global Insights 3.2 Wage and Productivity Comparisons for the United States and Mexico -- An Evaluation of the Classical Model -- Summary -- Exercises -- Appendix 3.1 The Classical Model with Many Goods -- Appendix 3.2 Offer Curves and the Terms of Trade -- ch. 4 The Heckscher -- Ohlin Model -- The HO Model: Basic Assumptions -- Global Insights 4.1 Capital/Labor Ratios of Selected U.S. Industries -- The HO Theorem -- Equilibrium in the HO Model -- Some New HO Theorems -- Global Insights 4.2 Trade, Wages, and Jobs in the U.S. Economy -- Some Final Observations -- Summary -- Exercises -- Appendix 4.1 Alternate Proofs of Selected HO Theorems -- The Heckscher -- Ohlin Theorem (Price Definition) -- The Rybczynski Theorem -- The Stolper -- Samuelson Theorem -- Appendix 4.2 The Specific Factors Model -- ch. 5 Tests of Trade Models: The Leontief Paradox and Its Aftermath -- Tests of the Classical Model -- Tests of the HO Model;Note continued: Elasticities and J Curves -- The Currency-Contract Period -- The Pass-Through Period -- The Evidence from Devaluations -- Global Insights 16.1 The Pass-Through Effect and Profits -- The Absorption Approach -- The Intertemporal Model -- A Look at U.S. Data -- Summary -- Exercises -- References -- ch. 17 Open-Economy Macroeconomics -- Modeling the Macroeconomy -- Example 1 -- Internal External Balance -- International Policy Coordination -- Global Insights 17.1 The Plaza Agreement -- Global Insights 17.2 The G20 -- Summary -- Exercises -- Appendix 17.1 The Mundell-Fleming Model -- The IS Curve -- The LM Curve -- The BP Curve -- Equilibrium -- Monetary Policy under Fixed Exchange Rates -- Fiscal Policy under Fixed Exchange Rates -- Monetary Policy under Floating Exchange Rates -- Fiscal Policy under Floating Exchange Rates -- References -- ch. 18 International Banking, Debt, and Risk -- The Origins of Offshore Banking;Note continued: The Welfare Effects of Quotas -- The Equivalence or Nonequivalence of Tariffs and Quotas -- Other Nontariff Barriers -- Customs Valuation Practices -- Government Procurement Policies -- Technical Barriers to Trade -- Health and Safety Standards -- Failure to Protect Intellectual Property Rights -- Export Subsidies -- Arguments for Protection -- Invalid Arguments -- Valid Arguments -- Global Insights 7.1 Trade, Technology, and U.S. Pollution -- Summary -- Exercises -- References -- ch. 8 Commercial Policy: History and Practice -- History of U.S. Commercial Policy -- Global Insights 8.1 The GATT Agreement -- The Uruguay Round and the Creation of the WTO -- Trade Policy Case Study 1 U.S. Tuna Quotas to Save Dolphins -- The Doha Round -- The Conduct of U.S. Commercial Policy -- Dumping -- Antidumping Law -- Countervailing Duty Law -- Unfair Foreign Practices: Section 301 -- Trade Policy Case Study 2 The International Bananas Dispute;Note continued: The Escape Clause: Section 201 -- Other Measures -- Trade Policy Case Study 3 Tire Imports from China -- Comparisons with Policies in Other Countries -- Summary -- Exercises -- References -- ch. 9 Preferential Trade Arrangements -- Preferential Trade Arrangements: Economic Analysis -- North American Free Trade Agreement -- Global Insights 9.1 Details of the NAFTA -- Other U.S. Free-Trade Area Agreements -- European Union -- The EU Government -- The Single Market Initiative -- Regionalism versus Multilateralism -- Global Insights 9.2 Other Preferential Trade Arrangements -- Summary -- Exercises -- References -- ch. 10 International Trade and Economic Growth -- Trade and Development -- Primary-Export-Led Development Policies -- Import-Substitution Development Policies -- Outward-Looking Development Policies -- Trade and Growth -- Trade and Growth: Some Additional Comments -- Technological Change -- Growth, Prices, and Welfare;Note continued: Attempted Reconciliations of Leontief's Findings -- Other Tests of the HO Model -- Recent Tests of the HO Model -- Alternative Theories of Comparative Advantage -- Human Skills Theory -- Product Life Cycle Theory -- Similarity of Preferences Theory -- Intraindustry Trade -- Increasing Returns and Imperfect Competition -- Conclusions -- Summary -- Exercises -- References -- ch. 6 Tariffs -- The Gains from Free Trade -- Tariffs: An Introduction -- Tariffs: An Economic Analysis -- The Gains from Free Trade: One More Time -- The Welfare Cost of Tariffs -- Tariffs: Some Extensions -- Export Tariff -- Global Insights 6.1 The Welfare Costs of Tariffs: Estimates from Certain U.S. Industries -- Global Insights 6.2 Argentine Export Tariffs -- The Optimal Tariff -- Global Insights 6.3 The Smoot-Hawley Tariff and Its Aftermath -- How High Are Tariffs? -- Summary -- Exercises -- References -- ch. 7 Nontariff Barriers and Arguments for Protection -- Quotas;Note continued: Global Insights 18.1 A Black Swan in the Financial Market -- International Banking Facilities -- Offshore Banking Practices -- Examlple -- International Debt -- Global Insights 18.2 The Eurozone Crisis -- IMF Conditionality -- The Role of Corruption -- Country-Risk Analysis -- Summary -- Exercises -- References.;Note continued: The Gold Standard: 1880 -- 1914 -- The Interwar Period: 1918 -- 1939 -- The Bretton Woods System: 1944 -- 1973 -- Today's International Monetary System: 1973 -- Present -- The European Monetary System and the Euro -- The Choice of an Exchange Rate System -- Summary -- Exercises -- References -- ch. 14 Exchange Rates in the Short Run -- Exchange Rate Behavior -- Uncovered Interest Rate Parity -- Example 1 -- Example 2 -- Expected Exchange Rates and the Term Structure of Interest Rates -- Tests of Uncovered Interest Rate Parity -- Global Insights 14.1 The Carry Trade -- Summary -- Exercises -- ch. 15 Exchange Rates in the Long Run -- An Introduction to Purchasing Power Parity -- Uses of Purchasing Power Parity -- Tests of Purchasing Power Parity -- Global Insights 15.1 Big Mac PPP -- The Monetary Approach to Exchange Rates -- Summary -- Exercises -- References -- ch. 16 Theories of the Current Account -- The Elasticities Approach to the Current Account