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International Economics

ISBN: 9780201726121 | 0201726122
Edition: 2nd
Format: Hardcover
Publisher: Addison Wesley
Pub. Date: 1/1/2002

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SummaryTable of Contents
International Economics, Second Edition, is a survey of international economics with a flexible approach that accommodates the needs of economics non-majors and majors alike. Students who have had a principles of economics course will easily understand the presentation of international economics in Gerber's text. the author addresses the needs of a heterogeneous student audience in a non-technical international economics course while focusing on institutions, policy, and real-world case studies. the book has received accolades from many instructors, who have praised it as mainstream, up-to-date, and easily comprehensible.
... MORE
Prefacexiv
PART 1 INTRODUCTION AND INSTITUTIONS1(38)
The United States in a Global Economy
2(16)
Introduction
2(1)
Globalization in Perspective
3(9)
The Growth of World Trade
4(1)
Capital and Labor Mobility
5(3)
New Features of the Global Economy
8(2)
Trade and Economic Growth
10(2)
Eleven Issues in the International Economy
12(4)
The Gains from Trade (Chapters 3, 4, and 5)
12(1)
Wages, Jobs, and Protection (Chapters 3, 6, 7, and 8)
12(1)
Trade Deficits (Chapters 9 and 11)
13(1)
Regional Trade Agreements (Chapters 2, 13, and 14)
13(1)
The Resolution of Trade Conflicts (Chapters 2, 7, and 8)
13(1)
The Role of International Institutions (Chapters 2 and 12)
14(1)
Exchange Rates and the Macroeconomy (Chapters 10 and 11)
14(1)
Financial Crises and Global Contagion (Chapters 12)
15(1)
Crisis and Reform in Latin America (Chapters 15)
15(1)
Export-Led Growth in East Asia (Chapters 16)
15(1)
The Integration of Ex-Socialist Countries into the World Economy (Chapters 17)
Vocabulary
16(1)
Study Questions
16(2)
International Economic Institutions Since World War II
18(21)
Introduction: International Institutions and Issues Since World War II
18(1)
International Institutions
18(1)
What Is an ``Institution''?
18(1)
A Taxonomy of International Economic Institutions
19(1)
The IMF, the World Bank, and the WTO
19(5)
The IMF and World Bank
19(3)
The GATT, the Uruguay Round, and the WTO
22(1)
Case Study: The GATT Rounds
23(1)
Regional Trade Agreements
24(4)
Four Types of Regional Trade Agreements
25(1)
Case Study: Prominent Regional Trade Agreements
26(2)
The Role of International Economic Institutions
28(5)
The Definition of Public Goods
29(1)
Maintaining Order and Reducing Uncertainty
30(2)
Case Study: Bretton Woods
32(1)
The Opposition to International Institutions
33(3)
Summary
36(1)
Vocabulary
37(1)
Study Questions
37(2)
PART 2 INTERNATIONAL TRADE39(132)
Comparative Advantage and the Gains from Trade
40(18)
Introduction
40(4)
Adam Smith and the Attack on Economic Nationalism
40(1)
A Simple Model of Production and Trade
41(1)
Absolute Productivity Advantage and the Gains from Trade
42(2)
Comparative Productivity Advantage and the Gains from Trade
44(6)
The Production Possibilities Curve
44(1)
Relative Prices
45(1)
The Price Line, or Trade Line
46(1)
The Gains from Trade
47(2)
Domestic Prices and the Trade Price
49(1)
Absolute and Comparative Productivity Advantage Constrasted
50(1)
Comparative Advantage and ``Competitiveness''
50(4)
Case Study: The U.S. and Mexican Auto Industries
52(2)
Economic Restructuring
54(2)
Summary
56(1)
Vocabulary
56(1)
Study Questions
57(1)
Comparative Advantage and Factor Endowments
58(26)
Introduction
58(1)
Modern Trade Theory
58(5)
The Heckscher-Ohlin (HO) Trade Model
59(1)
Gains from Trade in the HO Model
60(3)
Trade and Income Distribution
63(7)
The Stolper-Samuelson Theorem
64(2)
The Specific Factors Model
66(2)
Case Study: Forecasts of Winners and Losers Under NAFTA
68(2)
Empirical Tests of the Theory of Comparative Advantage
70(1)
Extension of the Heckscher-Ohlin Model
71(6)
The Product Cycle
72(2)
Intra-firm Trade
74(1)
Case Study: United States-China Trade
74(3)
The Impact of Trade on Wages and Jobs
77(2)
Summary
79(1)
Vocabulary
80(1)
Study Questions
80(1)
Appendix: Finding Trade Data
81(3)
U.S. Data
81(1)
International Data
82(2)
Beyond Comparative Advantage
84(27)
Introduction
84(1)
Intraindustry Trade
85(5)
Measures of Intraindustry Trade
85(1)
Characteristics of Intraindustry Trade
86(2)
The Gains from Intraindustry Trade
88(1)
Case Study: United States-Canada Trade
89(1)
Trade and Geography
90(4)
External Economies of Scale
91(1)
Trade and External Economies
92(2)
Industrial Policy
94(9)
Industrial Policies and Market Failure
95(3)
Strategic Trade
98(2)
Industrial Policy Tools
100(1)
Problems with Industrial Policies
101(2)
U.S. Industrial Policies
103(4)
The Political Debate of the 1980s
104(2)
Case Study: Targeting Motor Vehicle Manufacturing Processes
106(1)
Summary
107(1)
Vocabulary
108(1)
Study Questions
108(1)
Appendix: A Graphical Illustration of Prices and Costs with Monopolistic Competition
109(2)
The Theory of Tariffs and Quotas
111(20)
Introduction
111(10)
Analysis of a Tariff
111(1)
Consumer and Producer Surplus
111(2)
The Effect of a Tariff on Prices, Output, and Consumption
113(2)
The Effect of a Tariff on Resource Allocation and Income Distribution
115(2)
Other Potential Costs
117(1)
The Large Country Case
118(1)
Effective Versus Nominal Rates of Protection
119(2)
Analysis of a Quota
121(8)
Types of Quotas
121(1)
The Effect on the Profits of Foreign Producers
122(3)
Hidden Forms of Protection
125(1)
Case Study: U.S. VERs on Japanese Autos in the 1980s
125(2)
Case Study: Japanese Snow, U.S. Meat, and Mexican Tuna
127(2)
Summary
129(1)
Vocabulary
129(1)
Study Questions
130(1)
Commercial Policy
131(18)
Introduction
131(1)
The Costs of Protection in the United States and Japan
131(7)
Total Costs and Costs per Job Saved in Both Countries
132(3)
The Logic of Collective Action
135(1)
Case Study: The Uruguay Round of the GATT Negotiations
136(2)
Why Nations Protect Their Industries
138(5)
The Labor Argument
138(1)
The Infant Industry Argument
139(1)
The National Security Argument
140(1)
The Retaliation Argument
141(1)
Case Study: Economic Sanctions
142(1)
The Politics of Protection in the United States
143(4)
Countervailing Duties
144(1)
Antidumping Duties
144(2)
Escape Clause Relief
146(1)
Section 300 and Super 301
146(1)
Summary
147(1)
Vocabulary
148(1)
Study Questions
148(1)
International Trade and Labor and Environmental Standards
149(22)
Introduction
149(1)
Setting Standards: Harmonization, Mutual Recognition, or Separate?
150(3)
Case Study: Income, Environment, and Society
151(2)
Labor Standards
153(9)
Defining Labor Standards
154(1)
Case Study: Child Labor
154(3)
Labor Standards and Trade
157(2)
Evidence on Low Standards as a Predatory Practice
159(1)
Case Study: The International Labor Organization (ILO)
160(2)
Trade and the Environment
162(3)
Transboundary and Non-Transboundary Effects
162(2)
Case Study: Trade Barriers and Endangered Species
164(1)
Alternatives to Trade Measures
165(4)
Labels for Exports
166(1)
Requiring Home Country Standards
167(1)
Increasing International Negotiations
168(1)
Summary
169(1)
Vocabulary
170(1)
Study Questions
170(1)
PART 3 INTERNATIONAL FINANCE171(118)
Trade and the Balance of Payments
172(27)
Introduction to the Current Account
172(3)
The Merchandise Trade Balance
172(1)
The Current Account Balance
173(2)
Introduction to the Financial and Capital Accounts
175(9)
Types of Financial Flows
178(4)
Limits on Financial Flows
182(1)
Case Study: The Mexican Sexenio Crisis
183(1)
The Current Account and the Macroeconomy
184(8)
The National Income and Product Accounts
185(6)
Are Current Account Deficits Harmful?
191(1)
The International Investment Position
192(2)
Summary
194(1)
Vocabulary
195(1)
Study Questions
196(1)
Appendix 1: Measuring the International Investment Position
197(1)
Appendix 2: Balance of Payments Data
198(1)
Exchange Rates and Exchange Rate Systems
199(39)
Introduction
199(1)
Exchange Rates and Currency Trading
199(5)
Reasons for Holding Foreign Currencies
201(1)
Institutions
202(1)
Exchange Rate Risk
203(1)
The Supply and Demand for Foreign Exchange
204(12)
Supply and Demand with Flexible Exchange Rates
204(2)
Exchange Rates in the Long Run
206(4)
Exchange Rates in the Medium Run and Short Run
210(4)
Case Study: The Largest Market in the World
214(2)
The Real Exchange Rate
216(9)
Alternatives to Flexible Exchange Rates
218(1)
Fixed Exchange Rate Systems
219(4)
Case Study: Dollarization and Currency Boards
223(2)
Choosing the Right Exchange Rate System
225(4)
Case Study: The End of the Bretton Woods System
227(2)
Single Currency Areas
229(5)
Conditions for Adopting a Single Currency
231(1)
Case Study: Is the NAFTA Region an Optimal Currency Area?
232(2)
Summary
234(1)
Vocabulary
235(1)
Study Questions
235(1)
Appendix: The Interest Rate Parity Condition
236(2)
An Introduction to Open Economy Macroeconomics
238(25)
Introduction
238(1)
The Circular Flow of Expenditure and Income
238(3)
Fiscal and Monetary Policies
241(8)
Fiscal Policy
242(2)
Monetary Policy
244(2)
Case Study: Fiscal and Monetary Policy During the Great Depression
246(3)
Current Account Balances Revisited
249(7)
Fiscal and Monetary Policies, Interest Rates, and Exchange Rates
250(2)
Fiscal and Monetary Policy and the Current Account
252(1)
The Long Run
253(1)
Case Study: The United State's Current Account Deficits of the 1980s and 1990s
254(2)
Macro Policies for Current Account Imbalances
256(4)
The Adjustment Process
257(1)
Case Study: The Adjustment Process in the United States
258(2)
Macroeconomic Policy Coordination in Developed Countries
260(1)
Summary
261(1)
Vocabulary
262(1)
Study Questions
262(1)
International Financial Crises
263(26)
Introduction
263(1)
Definition of a Financial Crisis
264(1)
Two Types of International Financial Crises
265(6)
Crises Caused by Macroeconomic Imbalances
265(2)
Crises Caused by Valatile Capital Flows
267(1)
Case Study: The Mexican Peso Crisis of 1994 and 1995
268(3)
Domestic Issues in Crisis Avoidance
271(5)
Moral Hazard and Financial Sector Regulation
271(2)
Exchange Rate Policy
273(1)
Capital Controls
274(1)
Case Study: Chilean Taxes on Capital Inflows
275(1)
Domestic Policies for Crisis Management
276(6)
Case Study: The Asian Crisis of 1997 and 1998
278(4)
Reform of the International Financial Architecture
282(6)
A Lender of Last Resort
283(1)
Conditionality
284(4)
Summary
288(1)
Vocabulary
288(1)
Study Questions
288(1)
PART 4 REGIONAL ISSUES IN THE GLOBAL ECONOMY289(162)
Economic Integration in North America
290(30)
Introduction
290(1)
Economic and Demographic Characteristics of North America
290(4)
The Canada-U.S. Trade Relationship
294(4)
The Auto Pact of 1965
294(1)
The Canadian-U.S. Trade Agreement (CUSTA) of 1989
295(3)
Recent Mexican Economic History
298(7)
Import Substitution Industrialization (ISI)
298(1)
The Onset of the Debt Crisis of 1982
299(1)
The Lost Decade: 1980s
300(1)
Structural Reforms in the Mexican Economy
301(1)
Case Study: Mexico's Export Processing Industry
302(3)
The North American Free Trade Agreement (NAFTA)
305(1)
The NAFTA Debate in the United States
306(5)
Labor Issues
306(2)
Environmental Issues
308(2)
Immigration
310(1)
The Impact of NAFTA
311(6)
Case Study: The Free Trade Agreement of the Americas
315(2)
Summary
317(1)
Vocabulary
318(1)
Study Questions
318(2)
The European Union: Many Markets into One
320(32)
Introduction: The European Union
320(2)
The Size of the Market in Western Europe
322(2)
Before the European Union
324(4)
The Treaty of Rome
324(1)
Institutional Structure of the EEC
324(4)
Deepening and Widening the Community in the 1970s and 1980s
328(3)
Before the Euro
328(3)
The Second Wave of Deepening: The Single European Act
331(7)
The Delors Report
332(1)
Forecasts of the Gains from the Single European Act
333(1)
Problems in the Implementation of the SEA
334(4)
The Third Wave of Deepening: The Maastricht Treaty
338(2)
Monetary Union and the Euro
340(5)
Costs and Benefits of Monetary Union
340(2)
The Political Economy of a Single Currency
342(1)
Implementation of the Single Currency
343(2)
Widening the European Union
345(4)
Central and Eastern Europe
345(3)
A Possible Direction for Institutional Evolution
348(1)
Summary
349(1)
Vocabulary
350(1)
Study Questions
351(1)
Trade and Policy Reform in Latin America
352(31)
Defining a ``Latin American'' Economy
352(1)
Population, Income, and Economic Growth
353(3)
General Characteristics of Latin American Economies, 1950-2000
356(2)
Inward Orientation
357(1)
Inequality
357(1)
Macroeconomic Instability
357(1)
The Debt Crisis of the 1980s
357(1)
Reform Movements of the 1980s and 1990s
357(1)
Import Substitution Industrialization
358(1)
Origins and Goals of ISI
358(2)
Criticisms of ISI
360(2)
Case Study: ISI in Mexico
362
Macroeconomic Instability and Economic Populism
64(305)
Populism in Latin America
364(1)
Case Study: Peronism in Argentina
365(3)
Case Study: Alan Garcia and Peru
368(1)
The Debt Crisis of the 1980s
369(4)
Proximate Causes of the Debt Crisis
369(1)
Responses to the Debt Crisis
370(3)
Economic Policy Reform and the ``Washington Consensus''
373(8)
Stabilization Policies to Control Inflation
373(2)
Structural Reform and Open Trade
375(4)
Case Study: The Washington Consensus on Economic Policy Reform
379(2)
Summary
381(1)
Vocabulary
382(1)
Study Questions
382(1)
Export-Oriented Growth in East Asia
383(29)
The High-Performance Asian Economics
383(2)
Population, Income, and Economic Growth
385(1)
General Characteristics of Growth in the HPAEs
386(6)
Shared Growth
387(3)
Rapid Accumulation of Physical and Human Capital
390(1)
Rapid Growth of Manufactured Exports
391(1)
Stable Macroconomic Environments
392(1)
The Institutional Environment
392(7)
Fiscal Discipline
393(1)
Business-Government Relations
394(1)
Case Study: Deliberation Councils in the Ministry of International Trade and Industry (MITI)
394(1)
Avoid Rent Seeking
395(2)
Case Study: Japanese keiretsu
397(2)
The Role of Industrial Policies
399(4)
Targeting Specific Industries in the HPAEs
399(1)
Did Industrial Policies Work?
400(2)
Case Study: HCI in Korea
402(1)
The Role of Manufactured Exports
403(4)
The Connections Between Growth and Exports
403(2)
Is Export Promotion a Good Model for Other Regions?
405(1)
Case Study: East Asian Trade Blocs
406(1)
Is There an Asian Model of Economic Growth?
407(3)
Summary
410(1)
Vocabulary
410(1)
Study Questions
411(1)
Economic Integration in the Transition Economies
412(39)
Introduction: Economies in Transition
412(3)
The Legacy of Central Planning
415(1)
Economic Indicators
416(5)
The Tasks of Reform
421(6)
Economic Stabilization
422(1)
Liberalization
422(1)
Defining Property Rights
423(1)
Institutional Development
423(1)
Case Study: Should the Transition be Fast or Slow?
424(3)
Old and New Trade Relations
427(3)
The Council for Mutual Economic Assistance (CMEA)
427(3)
Trade Policy and the Transition
430(8)
Steps to Trade Liberalization
431(1)
Case Study: China's Economic Reform, Foreign Trade, and Investment
431(4)
Transitional Protection and Balance of Payments Problems
435(1)
Exchange Rate Regimes and Convertability
436(2)
The Links Between Trade Policy and Other Areas of Reform
438(1)
Integration into the World Trading System
438(1)
The WTO and the Transitional Economies
439(1)
Integration with Western Europe
440(1)
Other Regional Agreements
441
The Impact of the Transition Economies on the World Economy
433(14)
Case Study: China's Accession to the WTO
444(3)
Summary
447(1)
Vocabulary
448(1)
Study Questions
449(2)
Suggested Readings451(9)
Glossary460(13)
Index473

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