- Series: MIT Press
- Hardcover: 832 pages
- Publisher: The MIT Press (September 12, 1996)
- Language: English
- ISBN-10: 0262150476
- ISBN-13: 978-0262150477
- Product Dimensions: 7 x 1.4 x 10 inches
- Shipping Weight: 2.4 pounds (View shipping rates and policies)
- Average Customer Review: 11 customer reviews
- Amazon Best Sellers Rank: #867,695 in Books (See Top 100 in Books)
Enter your mobile number or email address below and we'll send you a link to download the free Kindle App. Then you can start reading Kindle books on your smartphone, tablet, or computer - no Kindle device required.
To get the free app, enter your mobile phone number.
Foundations of International Macroeconomics (MIT Press)
Use the Amazon App to scan ISBNs and compare prices.
Fulfillment by Amazon (FBA) is a service we offer sellers that lets them store their products in Amazon's fulfillment centers, and we directly pack, ship, and provide customer service for these products. Something we hope you'll especially enjoy: FBA items qualify for FREE Shipping and Amazon Prime.
If you're a seller, Fulfillment by Amazon can help you increase your sales. We invite you to learn more about Fulfillment by Amazon .
The Amazon Book Review
Author interviews, book reviews, editors picks, and more. Read it now
Frequently bought together
Customers who bought this item also bought
There is no real precedent for this original book. The authors have taken a field in which there are often quite different models authors have taken a field in which there are often quite different models that sometimes yield quite disparate results, and have provided a unifying framework for examining the issues. An aspect that I find especially appealing is that the text does not assume much background on the part of students.(Karen Lewis, The Wharton School, University of Pennsylvania)
Since the 1970's, volatile fluctuations in exchange rates, unprecedented trade balance deficits, problems with sovereign debt, and the continued inegration of the world's goods and capital markets have thrust international macroeconomic issues into the spotlight. Ostfeld and Rogoff provide a framework for understanding these issues that is firmly grounded in economic theory and rich in its empirical insights and predictions. Their book will no doubt be the most widely used text for graduate education during the next decade.(Robert J. Hodrick, Nomura Professor of International Finance, Graduate School of Business, Columbia University)
I predict that Foundations of International Macroeconomics will become the most authoritative textbook in the field. Currently I teach a graduate course in international finance at Harvard, and I have not found any text suitable for the course. This book offers basically all I need, and more. I would definitely adopt it not only for a graduate course in international macroeconomics, but for any graduate course in macroeconomics. It is no conincidence that this text is so superb. It has been written by two 'virtuosos' in the field.(Aaron Tornell, Assistant Professor of Economics, Harvard University)
Maury Obstfeld and Ken rogoff are among the very best international macroeconomists working today. They are the perfect people to write the book we badly need―a comprehensive, lucid treatment of the field that is neither sloppy nor doctrinaire, equipping its readers to understand both the broad areas of agreement among researchers and their important disputes. This book is ideal as a textbook, but it will also be must reading for everyone in the field, no matter how senior. The chapters on sticky-price models, in particular, will I predict revolutionize the terms of the debate. A great achievement.(Paul Krugman, Ford International Professor of Economics, MIT, and author of The Age of Diminished Expectations)
Obstfeld and Rogoff's very fine book confirms their high position as creators and practioners of dynamic international macroeconomics. The book has range, depth, and accessibility. It mixes theory and evidence in admirable proportions.(Tom Sargent, David Rockefeller, Professor of Economics, University of Chicago, and Senior Fellow, Hoover Institution)
A magnificent synthesis of modern macroeconomic theory and international finance. Stunningly coherent, comprehensive and lively. A truly seminal work.(Mark Gertler, Department of Economics, New York University)
Obstfeld and Rogoff's new book is a comprehensive text on modern international macroeconomics, unprecedented in both scope and depth. It will certainly be indispensible for students and researchers in the field.(Lars E.O. Svensson, Professor of International Economics, Stockholm University)
This amazingly comprehensive book provides a lucid explanation of modern macroeconomic theory and applies the theory to a wide range of international issues. For reference and classroom use, it sets a new standard in open economy macroeconomics. The use of boxes and applications in an advanced graduate text such as this is unorthodox, but extremely effective.(John Campbell, Otto Eckstein Professor of Applied Economics, Harvard University)
This is a landmark treatment of dynamic, open-economy macroeconomics―the only kind of macroeconomics that matters any more.(Paul Romer, Graduate School of Business, Stanford University)
From the Back Cover
Foundations of International Macroeconomics is an innovative text that offers the first integrative modern treatment of the core issues in open economy macroeconomics and finance. With its clear and accessible style, it is suitable for first-year graduate macroeconomics courses as well as graduate courses in international macroeconomics and finance. Each chapter incorporates an extensive and eclectic array of empirical evidence. For the beginning student, these examples provide motivation and aid in understanding the practical value of the economic models developed. For advanced researchers, they highlight key insights and conundrums in the field. Topic covered includes intertemporal consumption and investment theory, government spending and budget deficits, finance theory and asset pricing, the implications of (and problems inherent in) international capital market integration, growth, inflation and seignorage, policy credibility, real and nominal exchange rate determination, and many interesting special topics such as speculative attacks, target exchange rate zones, and parallels between immigration and capital mobility. Most main results are derived for both the small country and world economy cases. The first seven chapters cover models of the real economy, while the final three chapters incorporate the economy's monetary side, including an innovative approach to bridging the usual chasm between real and monetary models.
Top customer reviews
There was a problem filtering reviews right now. Please try again later.
The book does now need to be updated, and here would be some of my suggestions for how to do it:
1. The chapter on economic growth should actually be entitled models of economic growth. Or simply axed altogether -- although the profession is perhaps more to blame than the authors. Even so, they might have introduced the growth implications of new trade theory instead of the garbage in the chapter.
2. Along those lines, it might have been a good idea to swap growth for economic geography.
3. New Trade Theory needs a hearing... -- obviously recent Melitz-ish hetero agent macro models here would belong in a new volume. Along same lines, hysteresis is barely mentioned.
4. The point of the book is really to teach models to grad students -- and it does a wonderful job there. And the models often do have insight. I really liked the examples from economic history, the empirical applications, and the discussions -- so much so that I'd like to see even more. Which is to say, my desire is really to read a graduate textbook in which the authors try to simply teach the material, and just uses math as a tool, rather than focusing on the tools over the material. Still, the book does contain a lot of insight, so to ask for even more is to be greedy.
Suggestion: Read it in combination with Daron Acemoglu "why nations fail" and you get a clear understanding of recent economic developments