Peter J. Montiel

Macroeconomics in Emerging Markets (eBook, ePUB)

• Format: ePub

Produktbeschreibung

The macroeconomic experience of emerging and developing economies has tended to be quite different from that of industrial countries. Compared to industrial countries, emerging and developing economies have tended to be much more unstable, with more severe boom/bust cycles, episodes of high inflation and a variety of financial crises. This textbook describes how the standard macroeconomic models that are used in industrial countries can be modified to help understand this experience and how institutional and policy reforms in emerging and developing economies may affect their future macroeconomic performance. This second edition differs from the first in offering: extensive new material on themes such as fiscal institutions, inflation targeting, emergent market crises, and the Great Recession; numerous application boxes; end-of-chapter questions; references for each chapter; more diagrams, less taxonomy, and a more reader-friendly narrative; and enhanced integration of all parts of the work.

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Produktdetails

• Verlag: Cambridge University Press
• Erscheinungstermin: 29. April 2011
• Englisch
• ISBN-13: 9781139062794
• Artikelnr.: 37878949

Autorenporträt

Peter J. Montiel is Farleigh S. Dickinson, Jr, '41 Professor of Economics at Williams College, Massachusetts. He formerly taught at Florida International University, Amherst College and Oberlin College. Professor Montiel held positions as Senior Policy Advisor at the International Monetary Fund and as Chief of the Macroeconomics and Growth Division of the Policy Research Department of the World Bank. He has served on the editorial board of several professional journals and is a past Associate Editor of World Development. He is the author of nine books, including most notably the three editions of Development Economics (with Pierre-Richard Agenor) and a large number of articles in professional journals. Professor Montiel has been a Visiting Scholar at the IMF, the World Bank, the Inter-American Development Bank, the University of Manchester, the University of Helsinki and the Monetary Authority of Singapore.

Inhaltsangabe

Preface
Part I. The Macroeconomic Framework: 1. Introduction and overview
2. Concepts and definitions: the macroeconomic accounts
3. Short-run macroeconomics and long-run growth
Part II. A Benchmark Macroeconomic Model: 4. The aggregate production function, the labor market, and aggregate supply
5. Aggregate demand and goods market equilibrium
6. Financial markets
7. Short-run macroeconomic equilibrium
8. Medium-run macroeconomic equilibrium
Part III. Public Finance and Macroeconomic Performance: 9. The intertemporal budget constraint of the public sector
10. Sovereign risk premia
11. Fiscal institutions
12. Privatization
13. High inflation and inflation stabilization
Part IV. Monetary Institutions and Monetary Policy: 14. Monetary institutions
15. Inflation targeting
Part V. Exchange Rate Management: 16. Equilibrium real exchange rates
17. The benchmark model with floating exchange rates
18. Exchange rate regimes
19. Managing an officially-determined rate
Part VI. The Financial Sector and Macroeconomic Performance: 20. Finance, welfare, and growth
21. Financial repression
22. Financial reform
23. The benchmark model with banks
24. Coping with capital inflows
Part VII. Varieties of Emerging-Market Crises: 25. Sovereign debt crises
26. Banking crises
27. Currency crises and crisis interactions
28. Lessons from the emerging market crises of the nineties
29. Lessons from the great recession.