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International Macroeconomics: Recent Developments
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Editors: Amalia Morales Zumaquero (Univ. of Malaga, Spain)
Book Description:
The international macroeconomics area has experienced substantial growth over the past decade. The goal of this volume is to present the most important developments in the international macroeconomics field in recent years. The literature in this area has evolved mainly in four directions that constitute the four parts of this book. In particular, Part I focuses on the purchasing power parity (PPP) puzzle, Part II presents papers that try to explain the behavior of nominal and real exchange rates, Part III covers the financial crises, currency crises and contagion recent literature and, finally, the behavior of exchange rates, inflation and output convergence in Central and Eastern European transition economies are considered in Part IV.

Table of Contents:
Part I The Purchasing Power Parity Puzzle

Chapter 1. Purchasing Power Parity Revisited;pp. 1-37
Simón Sosvilla-Rivero (University Complutense of Madrid and Foundation for Applied Economic Research, FEDEA) and
Emma García (Foundation for Applied Economic Research, FEDEA)

Chapter 2. Panel Evidence of Purchasing Power Parity Using Intranational and International Data;pp. 39-51
Sarah E. Culver (University of Alabama at Birmingham) and
David H. Papell (University of Houston)

Chapter 3.Purchasing Power Parity Puzzle in Developing Countries;pp. 53-61
Mohsen Bahmani-Oskooee (The Center for Research on International Economics and University of Wisconsin-Milwaukee) and
Taggert J. Brooks (University of Wisconsin-La Crosse)

Chapter 4. Long-Run Purchasing Power Parity for the Japanese Yen: New Stationarity Tests with Breaks for Real Asian and Major Currencies;pp. 63-78
(Raj Aggarwal, Antonio Montanes and Monserrat Ponz (University of Zaragoza)

Part II The Behavior of the Nominal and Real Exchange Rates

Chapter 5. International Parity Relationships and a Nonstationary Real Exchange Rate. Germany Versus the US in the Post Bretton Woods Period;pp. 79-103
(Katarina Juselius (Institute of Economics, University of Copenhagen) and Ronald MacDonald (University of Glasgow)

Chapter 6.Long Run Real Exchange Rate Overvaluation: Evidence from Asia;pp. 105-117
Stephen Y.L. Cheung (City University of Hong Kong) and
Vikas Kakkar (City University of Hong Kong)

Chapter 7. Are There Non-linearities in Real Exchange Rate Behavior? The Case of Less Developed Countries;pp. 119-132
(Mark J. Holmes (Loughborough University)

Chapter 8. Exchange Rate Flexibility and Real Adjustments in Emerging Market Economies;pp. 133-152
José García-Solanes (University of Murcia)

Chapter 9. Imperfe;pp. 153-205
(Roman Frydman (New York University) and
Michael Goldberg (University of New Hampshire)

Part III Financial Crises, Currency Crises and Contagion

Chapter 10. Financial Globalization, Crises, and Contagion;pp. 207-225
(Sergio Schmukler (World Bank), Pablo Zoido (Stanford University) and Marina Halac (World Bank)

Chapter 11. Empirical methods in contagion: Which ones work, which ones don't?;pp. 227-255
Roberto Rigobon (Massachusetts Institute of Technology, Sloan School of Management, and NBER)

Chapter 12. Credibility and Duration in Target Zones: Evidence From the EMS;pp. 257-284
Simón Sosvilla-Rivero (University Complutense of Madrid and Foundation for Applied Economic Research, FEDEA) and
Francisco Pérez-Bermejo (Foundation for Applied Economic Research, FEDEA)

Part IV Transition Economies: Exchange Rates, Inflation and Output Convergence

Chapter 13. Behavior of Nominal and Real Exchange Rates in Transition Economies;pp. 285-308
Fabrizio Coricelli, University of Siena, Central European University, Budapest and CEPR, Boštjan Jazbec, University of Ljubljana Slovenia,
Igor Masten European University Institute of Florence and University of Ljubljana, Slovenia)

Chapter 14. Real Exchange Rates in Transition Economies: The Role of Foreign Capital, Labour Productivity and Regulated Prices;pp. 309-333
(Balázs Égert, National Bank of Austria, MODEM, University of Paris X-Nanterre and The William Davidson Institute) and
Kirsten Lommatzsch, Economist, DIW-Berlin)
pp. 309-333

Chapter 15. The Real Exchange Rate Behavior in Transition Economies: The Case of Serbia;pp. 335-350
Zorica Mladenovic (University of Belgrade)

Chapter 16. Is Moderate Inflation Over in Transition Economies?;pp. 351-370
Josef Brada (Arizona State University and The William Davidson Institute, University of Michigan) and
Ali Kutan (Southern Illinois University and Center of European Integration Studies, ZEI, University of Bonn)

Chapter 17. Output Convergence: The Case of Current and Forthcoming Members of the European Union;pp. 371-392,
(Universidad de Murcia - Spain)


   Binding: Hardcover
   Pub. Date: 2006
   Pages: 407 pp.
   ISBN: 1-59454-901-X
   Status: AV
Status Code Description
AN Announcing
FM Formatting
PP Page Proofs
FP Final Production
EP Editorial Production
PR At Prepress
AP At Press
AV Available
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