1 / 10

Shopping Day ITF-220: Economics of International Financial Policy

Shopping Day ITF-220: Economics of International Financial Policy. I.e., Open-economy macroeconomics Professor: Jeffrey Frankel Office hrs: Mon.4:15-5:15; Tues.2:00-3:00 . Pre-requisites: Introductory micro-economics Intermediate macro-economics

whitley
Télécharger la présentation

Shopping Day ITF-220: Economics of International Financial Policy

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Shopping Day ITF-220: Economics of International Financial Policy • I.e., Open-economy macroeconomics • Professor: JeffreyFrankelOffice hrs: Mon.4:15-5:15; Tues.2:00-3:00. • Pre-requisites: • Introductory micro-economics • Intermediate macro-economics • Comfort with quantitative thinking, esp. algebra

  2. Topics covered in ITF220 I) ELASTICITIES & THE TRADE BALANCE II) THE KEYNESIAN MODEL OF INCOME • THE MONETARY APPROACH TO THE BALANCE OF PAYMENTS IV) GLOBALIZATION OF FINANCIAL MARKETS V) FISCAL & MONETARY POLICY UNDER INTERNATIONAL CAPITAL MOBILITY VI) INTERDEPENDENCE AND COORDINATION VII) SUPPLY, INFLATION & MONETARY UNION VIII) EXPECTATIONS, MONEY, & DETERMINATION OF THE EXCHANGE RATE Professor Jeffrey Frankel, Kennedy School, Harvard University

  3. Some illustrations of internationaleconomicquestions that we study in ITF220

  4. Why was the US trade balance on a downward trend, 1965-2011? ↑ Surplus ↓ Deficit with a few improvements in 1990-91, 2001, & especially 2008-09? Measures of external balance: United States ($ millions)

  5. Why did global trade collapsein the 2008-09 global recession? (much more than usual) 2009 Bussière, Callegari, Ghironi, Sestieri, & N.Yamano, 2013,"Estimating Trade Elasticities: Demand Composition and the Trade Collapse of 2008-2009."

  6. Has fiscal austerity helped, as a response to the euro crisis? Source: P.Krugman, 10 May 2012, via R.Portes, May 2013.

  7. Why are MacDonald’s hamburgers expensive in Switzerland? andcheap in China?

  8. Why did Emerging Markets plummet in May/June 2013when Fed Chairman Bernanke talked of “tapering” QE? Financial Times, Dec. 15, 2013

  9. Mexican inflation, 1970-2011 Why did Mexico used to suffer a currency crisis every6 years? Changes in the $ value of the peso, 1970-2011

  10. Hyperinflation:Why did Zimbabwe’s inflation rate reach 2,600% per month in mid-2008?

More Related