Economic Policy, Exchange Rates and the International System - Softcover

Corden, W. Max

Softcover

ISBN 10: 0198774095 ISBN 13: 9780198774099

Publisher: Oxford University Press, 1994

Synopsis

In an outstanding account of exchange rates in the international monetary system, W. Max Corden considers the essential issues in international macroeconomics. The author takes as his model the macroeconomic situation of a country with an open economy, and explains the effects of domestic fiscal and monetary macroeconomic policy on exchange rates. He clearly analyses the choices faced by governments attempting to manage both the domestic inflation rate and the external exchange rate and current account balance. Professor Corden then discusses the European Exchange Rate mechanism, and provides a sceptical analysis of the possibilities for monetary union in Europe, and for international policy coordination in general. He gives equal weight to discussion of the present U.S.-centred international monetary system outside the E.R.M., and combines theoretical models with an account of the actual determination of floating exchange rates. Although the book itself is orientated towards monetary rather than trade issues, the author discusses two topical issues: the role of protectionist policies, and the idea of competitiveness. Finally, he looks at the future of the international monetary system and the series of current reform proposals. Students will find this book useful because the author covers essential issues lucidly and authoritatively. The exposition is entirely non-mathematical. Postgraduate students and academics will be interested since Corden is a distinguished writer on international trade and policy, and his arguments are powerfully presented. New to this edition: This is a revised and expanded edition of a previous book by Corden, Inflation, Exchange Rates and the World Economy, the third edition of which was published in 1985. In this new book, Professor Corden has fully rewritten the text, but retains the discursive, informal, reader-friendly style of the earlier editions. In this new edition, Professor Corde

About this title

Review

`Good exposition, very technical, right level. Very good on comparative issues.'N. Sarantis, Kingston University

`It is very good at the introductory level to understand real issues.'Dr D. Barn, University of Kent

`The book is reasonably priced and well-designed. As always, Corden is very lucid.'Heikki Taimio, University of Joensuu, Finland

In Max Corden we have one of today's leading international economists. And in his latest book we surely have an essential addition to the library of any serious student of international monetary economics. (Times Higher Education Supplement)

An essential addition to the library of any serious student of international monetary economics ... a very useful text for students of both economics and international law and one which reveals the extent to which these two disciplines depend on each other ... The book provides a comprehensive coverage of the subject of trade regulation. (Times Higher Education Supplement)

About the Author

W. Max Corden is at Johns Hopkins University, Washington.

Edition details

• Publisher: Oxford University Press
• Publication date: 1994
• Language: English
• ISBN 10: 0198774095
• ISBN 13: 9780198774099
• Binding: Paperback
• Edition number: 4
• Number of pages: 342