10 The foreign exchange market -- 11 Balance of payments and national accounts -- 12 The role of the exchange rate in the adjustment process in a partial equilibrium framework -- 13 The role of income changes in the adjustment process -- 14 The absorption approach and interactions between...

In the present text the author deals with both conventional and new approaches to trade theory and policy, treating all important research topics in international economics and clarifying their mathematical intricacies. The textbook is intended for undergraduates, graduates and researchers...

This book details how an open economy functions. It explores the determinants of international flows of commodities and financial assets as well as examines the effects of these flows on the domestic and international economy and the possible policy actions at the national and international...

In 1980 Feldstein and Horioka (F-H) found high saving-investment cross-section correlation among OECD countries and interpreted this result as evidence of low capital mobility. Such a inconsistency between the conventional wisdom about capital mobility in the last decades and its empirical...

The interest of economists in chaos theory started in the 1980s. The first to draw the attention of economists to chaos theory was, in fact, Brock (1986), who examined the quarterly US real GNP data 1947-1985 using the Grassberger-Procaccia correlation dimension and Lyapunov exponents....

This paper is a step in the direction of a larger research project aimed at determining the long run equilibrium value of the euro/dollar real exchange rate. Given this value, one could then give a precise meaning to the notion of undervaluation or overvaluation of the euro, and calculate its...

This paper is a step in the direction of a larger research project aimed at determining the long run equilibrium value of the euro/dollar real exchange rate. Given this value, one could then give a precise meaning to the notion of undervaluation or overvaluation of the euro, and calculate its...

After an introduction to the advantages of continuous time macroeconometric models, the authors briefly illustrate a macroeconometric model of the Italian economy specified as a system of 23 stochastic differential equations and show the application of optimal control techniques (based on...