Intranational Macroeconomics

by
Format: Hardcover
Pub. Date: 2000-09-11
Publisher(s): Cambridge University Press
List Price: $145.00

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Summary

What will international macroeconomics look like in the twenty-first century? While historically the study of international trade and finance has associated the movement of goods and financial flows across the distinct geographic regions as a phenomenon only between nations, this definition will become less useful as countries become more integrated. The approach that researchers have recently adopted to further our understanding of how economic interactions between countries will evolve as national borders decline in importance is to analyze economic interactions within a country - i.e. 'intranational macroeconomics'. This book brings the intranational macroeconomics literature into clearer focus by collecting the strands of research into a common thread. Each chapter of the book aims to answer the following two questions: First, what contributions do national and geographic borders make to our understanding of macroeconomics? Second, how will these contributions change as the world becomes more integrated?

Table of Contents

Acknowledgments vii
Introduction 1(10)
Part I Financial and goods market integration
Intranational versus international saving-investment comovements
11(26)
Eric van Wincoop
International and intranational risk sharing
37(23)
Mario J. Crucini
Gregory D. Hess
Intranational and international credit market integration: Evidence from regional income and consumption patterns
60(16)
Bent E. Sørensen
Oved Yosha
Home bias in equity markets: International and intranational evidence
76(16)
Gur Huberman
Relative price volatility: What role does the border play?
92(20)
Charles Engel
John H. Rogers
(Why) Do borders matter for trade?
112(19)
Holger C. Wolf
Part II Business cycles and growth
Income dynamics in regions and countries
131(25)
Paul Evans
Intranational labor migration, business cycles, and growth
156(33)
Antonio Fatas
The sources of fluctuations within and across countries
189(32)
Todd E. Clark
Kwanho Shin
Part III Fiscal and monetary policy
Regional nonadjustment and fiscal policy
221(51)
Maurice Obstfeld
Giovanni Peri
Fiscal policy and intranational risk sharing
272(23)
Jurgen von Hagen
Do local banks matter for the local economy? In search of a regional credit channel
295(22)
Sandra Hanson McPherson
Christopher J. Waller
Index 317

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