Macroeconomics

  1. Open-Economy Macroeconomics
    1. Basic Concepts
      1. The International Flows of Goods and Capital
        1. Net Exports
          1. Exports
            1. Imports
              1. Trade Balance
                1. Terms of Trade
                2. Net Capital Outflow
                  1. Capital Outflows
                    1. Capital Inflows
                      1. Foreign Direct Investment
                        1. Portfolio Investment
                        2. The Equality of NX and NCO
                          1. Balance of Payments Identity
                            1. Current Account
                              1. Capital Account
                            2. The Prices for International Transactions
                              1. Nominal Exchange Rates
                                1. Quotation Methods
                                  1. Spot Rates
                                    1. Forward Rates
                                      1. Currency Conversion
                                      2. Real Exchange Rates
                                        1. Calculation
                                          1. Importance for Trade Competitiveness
                                            1. Multilateral Real Exchange Rates
                                            2. Exchange Rate Systems
                                              1. Flexible Exchange Rates
                                                1. Fixed Exchange Rates
                                                  1. Managed Float
                                                2. Balance of Payments
                                                  1. Current Account
                                                    1. Trade Balance
                                                      1. Services Balance
                                                        1. Income Balance
                                                          1. Transfer Balance
                                                          2. Capital and Financial Account
                                                            1. Direct Investment
                                                              1. Portfolio Investment
                                                                1. Other Investment
                                                                2. Official Reserve Account
                                                                  1. Balance of Payments Equilibrium
                                                                  2. Theories of Exchange Rate Determination
                                                                    1. Purchasing-Power Parity
                                                                      1. Absolute PPP
                                                                        1. Relative PPP
                                                                          1. Law of One Price
                                                                          2. Limitations of PPP
                                                                            1. Nontradable Goods
                                                                              1. Transportation Costs
                                                                                1. Barriers to Trade
                                                                                  1. Imperfect Substitutes
                                                                                    1. Market Imperfections
                                                                                    2. Interest Rate Parity
                                                                                      1. Covered Interest Parity
                                                                                        1. Uncovered Interest Parity
                                                                                        2. Monetary Approach
                                                                                          1. Portfolio Balance Approach
                                                                                        3. A Macroeconomic Theory of the Open Economy
                                                                                          1. The Market for Loanable Funds
                                                                                            1. Supply of Loanable Funds
                                                                                              1. National Saving
                                                                                              2. Demand for Loanable Funds
                                                                                                1. Domestic Investment
                                                                                                  1. Net Capital Outflow
                                                                                                  2. Equilibrium Interest Rate
                                                                                                  3. The Market for Foreign-Currency Exchange
                                                                                                    1. Supply of Currency
                                                                                                      1. Net Capital Outflow
                                                                                                      2. Demand for Currency
                                                                                                        1. Net Exports
                                                                                                        2. Equilibrium Exchange Rate
                                                                                                        3. Equilibrium in the Open Economy
                                                                                                          1. Simultaneous Equilibrium
                                                                                                            1. Interdependence of Markets
                                                                                                              1. Effects of Policy Changes
                                                                                                                1. Fiscal Policy Effects
                                                                                                                  1. Monetary Policy Effects
                                                                                                                2. Small Open Economy Model
                                                                                                                  1. Assumptions
                                                                                                                    1. World Interest Rate
                                                                                                                      1. Policy Implications
                                                                                                                      2. Large Open Economy Model
                                                                                                                        1. Endogenous Interest Rates
                                                                                                                          1. International Spillovers
                                                                                                                        2. Policy in an Open Economy
                                                                                                                          1. Government Budget Deficits
                                                                                                                            1. Twin Deficits Hypothesis
                                                                                                                              1. Impact on Interest Rates
                                                                                                                                1. Impact on Exchange Rates
                                                                                                                                  1. Crowding Out of Net Exports
                                                                                                                                  2. Trade Policy
                                                                                                                                    1. Tariffs
                                                                                                                                      1. Effects on Trade Balance
                                                                                                                                        1. Effects on Exchange Rate
                                                                                                                                          1. Welfare Effects
                                                                                                                                          2. Quotas
                                                                                                                                            1. Import Restrictions
                                                                                                                                              1. Economic Effects
                                                                                                                                              2. Export Subsidies
                                                                                                                                                1. Trade Wars
                                                                                                                                                2. Exchange Rate Policy
                                                                                                                                                  1. Currency Devaluation
                                                                                                                                                    1. Currency Revaluation
                                                                                                                                                      1. Intervention in Foreign Exchange Markets
                                                                                                                                                      2. Political Instability and Capital Flight
                                                                                                                                                        1. Causes of Capital Flight
                                                                                                                                                          1. Political Risk
                                                                                                                                                            1. Economic Uncertainty
                                                                                                                                                              1. Policy Instability
                                                                                                                                                              2. Consequences
                                                                                                                                                                1. Currency Depreciation
                                                                                                                                                                  1. Interest Rate Increases
                                                                                                                                                                    1. Economic Disruption
                                                                                                                                                                    2. Policy Responses
                                                                                                                                                                      1. Capital Controls
                                                                                                                                                                        1. Credible Policies
                                                                                                                                                                          1. International Assistance

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                                                                                                                                                                    9. Macroeconomic Policy Debates