{"product_id":"open-economy-macroeconomics-9780691158778","title":"Open Economy Macroeconomics","description":"\u003cp\u003e\u003cb\u003eA cutting-edge graduate-level textbook on the macroeconomics of international trade\u003c\/b\u003e \u003c\/p\u003e\u003cp\u003e\u003c\/p\u003eCombining theoretical models and data in ways unimaginable just a few years ago, open economy macroeconomics has experienced enormous growth over the past several decades. This rigorous and self-contained textbook brings graduate students, scholars, and policymakers to the research frontier and provides the tools and context necessary for new research and policy proposals. \u003cp\u003e\u003c\/p\u003eMart n Uribe and Stephanie Schmitt-Groh  factor in the discipline's latest developments, including major theoretical advances in incorporating financial and nominal frictions into microfounded dynamic models of the open economy, the availability of macro- and microdata for emerging and developed countries, and a revolution in the tools available to simulate and estimate dynamic stochastic models. The authors begin with a canonical general equilibrium model of an open economy and then build levels of complexity through the coverage of important topics such as international business-cycle analysis, financial frictions as drivers and transmitters of business cycles and global crises, sovereign default, pecuniary externalities, involuntary unemployment, optimal macroprudential policy, and the role of nominal rigidities in shaping optimal exchange-rate policy. \u003cp\u003e\u003c\/p\u003eBased on courses taught at several universities, \u003ci\u003eOpen Economy Macroeconomics\u003c\/i\u003e is an essential resource for students, researchers, and practitioners.\u003cbr\u003e\u003cul\u003e\n\u003cli\u003eDetailed exploration of international business-cycle analysis\u003c\/li\u003e\n\u003cli\u003eCoverage of financial frictions as drivers and transmitters of business cycles and global crises\u003c\/li\u003e\n\u003cli\u003eExtensive investigation of nominal rigidities and their role in shaping optimal exchange-rate policy\u003c\/li\u003e\n\u003cli\u003eOther topics include fixed exchange-rate regimes, involuntary unemployment, optimal macroprudential policy, and sovereign default and debt sustainability\u003c\/li\u003e\n\u003cli\u003eChapters include exercises and replication codes\u003c\/li\u003e\n\u003c\/ul\u003e\u003cbr\u003e\u003cbr\u003e\u003cbr\u003e\u003cb\u003eAbout the Author\u003c\/b\u003e\u003cbr\u003e\u003cb\u003eMartín Uribe\u003c\/b\u003e is professor of economics at Columbia University and a research associate at the National Bureau of Economic Research. He is a coeditor of the \u003ci\u003eJournal of International Economics\u003c\/i\u003e. \u003cb\u003eStephanie Schmitt-Grohé\u003c\/b\u003e is professor of economics at Columbia University, a research associate at the National Bureau of Economic Research, and a research fellow at the Center for Economic and Policy Research.\u003cbr\u003e","brand":"Princeton University Press","offers":[{"title":"Default Title","offer_id":50327207248146,"sku":"9780691158778","price":114.99,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0831\/4771\/8930\/files\/img_edbb505b-06b8-4253-8491-4ec830d6e733.jpg?v=1727711274","url":"https:\/\/surprise-castle.myshopify.com\/products\/open-economy-macroeconomics-9780691158778","provider":"Surprise Castle","version":"1.0","type":"link"}