Economic Policy, Exchange Rates, and the International System
<DIV>An ambitious successor to W. Max Corden's highly acclaimed <I>Inflation, </I><BR><I>Exchange Rates, and the World Economy</I>, this book addresses topics in <BR>international macroeconomics that have come to the forefront of economic <BR>policy debates in recent years. Covering exchange rate policy, the <BR>European Monetary System, protection and competition, and the <BR>international "non-system" since the collapse of Bretton Woods, Corden <BR>provides a probing analysis of significant economic trends associated <BR>with the increasing integration of the world capital market.<BR><BR>Beginning with essays on exchange rate policy, the current account, and <BR>external effects of fiscal policy, Corden lays out the foundations of <BR>balance-of-payments theory in relation to wage rates, income <BR>distribution, and inflation. Chapters on the European Monetary System <BR>focus on monetary integration and look skeptically at European proposals <BR>to move toward monetary union. Other topical essays discuss the <BR>"competitiveness" problem and the relation between protection and <BR>macroeconomic policy.<BR><BR>Corden summarizes and clarifies a vast range of work on the coordination <BR>of macroeconomic policies and critically reviews various proposals for <BR>reforming the international monetary system.
