Open Economy Macroeconomics by Martín UribeOpen Economy Macroeconomics by Martín Uribe

Open Economy Macroeconomics

byMartín Uribe, Stephanie Schmitt-Grohé

Hardcover | April 4, 2017

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A cutting-edge graduate-level textbook on the macroeconomics of international trade

Combining theoretical models and data in ways unimaginable just a few years ago, open economy macroeconomics has experienced enormous growth over the past several decades. This rigorous and self-contained textbook brings graduate students, scholars, and policymakers to the research frontier and provides the tools and context necessary for new research and policy proposals.

Martín Uribe and Stephanie Schmitt-Grohé factor in the discipline's latest developments, including major theoretical advances in incorporating financial and nominal frictions into microfounded dynamic models of the open economy, the availability of macro- and microdata for emerging and developed countries, and a revolution in the tools available to simulate and estimate dynamic stochastic models. The authors begin with a canonical general equilibrium model of an open economy and then build levels of complexity through the coverage of important topics such as international business-cycle analysis, financial frictions as drivers and transmitters of business cycles and global crises, sovereign default, pecuniary externalities, involuntary unemployment, optimal macroprudential policy, and the role of nominal rigidities in shaping optimal exchange-rate policy.

Based on courses taught at several universities,Open Economy Macroeconomicsis an essential resource for students, researchers, and practitioners.

  • Detailed exploration of international business-cycle analysis
  • Coverage of financial frictions as drivers and transmitters of business cycles and global crises
  • Extensive investigation of nominal rigidities and their role in shaping optimal exchange-rate policy
  • Other topics include fixed exchange-rate regimes, involuntary unemployment, optimal macroprudential policy, and sovereign default and debt sustainability
  • Chapters include exercises and replication codes

Martín Uribe is professor of economics at Columbia University and a research associate at the National Bureau of Economic Research. He is a coeditor of the Journal of International Economics. Stephanie Schmitt-Grohé is professor of economics at Columbia University, a research associate at the National Bureau of Economic Research, and ...
Title:Open Economy MacroeconomicsFormat:HardcoverDimensions:648 pagesPublished:April 4, 2017Publisher:Princeton University PressLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0691158770

ISBN - 13:9780691158778

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Editorial Reviews

"This graduate-level textbook offers a wide menu of up-to-date empirical techniques and simple general equilibrium models focused on international business cycles. The presentation is highly pedagogical and user-friendly, and the link between theory and econometrics is never lost. It will be an indispensable resource for graduate and advanced undergraduate courses in open economy macroeconomics, and I strongly recommend it for all who want to keep abreast of current research in this field."-Guillermo Calvo, Columbia University