International Monetary Economics
| Author | : | |
| Rating | : | 4.62 (612 Votes) |
| Asin | : | 0195094948 |
| Format Type | : | paperback |
| Number of Pages | : | 280 Pages |
| Publish Date | : | 2014-04-16 |
| Language | : | English |
DESCRIPTION:
McCallum is at Carnegie Mellon University. . Bennett T
McCallum is at Carnegie Mellon University. About the Author Bennett T.
Very useful book This book is a very useful text for an introductory international monetary economics class (first year graduates). It covers a good range of topics and while being good on intuition it conveys almost all basic messages with one work horse model. It is easy for students to see how a change in assumptions, expressed by little modifications of the basic model, leads to very. "Too many typos and difficult to understand." according to A Customer. I am in Professor McCallum's course on International Money & Finance and as a student who must read this book, I find it very difficult to read. If that is not enough, there are a significant amount of typographical errors.. This book makes basic economics overly confusing Throughout his book, Bennett McCallum uses obscure language and inconsistent notation. Basic concepts are not presented in a clear and understandable manner. This entire book reads like an academic paper not a textbook.
Part II introduces the basic analytical model -- usable with fixed and floating exchange rates, in which capital mobility is complete, real exchange rates are variable, and investment spending is endogenous. In addition, there is a relatively long chapter devoted to dynamic analysis with rational expectations. These broad topics are arranged in three main parts. In Part I the author presents basic concepts and a historical perspective on the US and global economy, with emphasis on the evolution of international monetary institutions since 1800. The text concentrates on concepts and relationships involving exchange rates and balance-of-payments magnitudes; the construction and manipulation of a small but versatile model of exchange rate and balance-of-payments behavior; and the description of current and prospective arrangements for multicountry cooperation in Europe and elsewhere.