FOURTH EDITION INTERNATIONAL ECONOMICSTo our parents About the AuthorsBrief Contents ‘PART tntaduction to International ‘de rant 2 Pattems of international Tade Ctr 2 eae egy Th fasan Chop ai an aes tam ade the Specs ose Cop tte mane ater Monona fd aa PART NNew Explanations for Internationa Trade ant 4 Iterations ade Policies ope Imp ln et nee ImpreaCngen 25 ita ee 3 Cort ingens PARTS Introduction to ntemational Macroeconomics, ant 6 Exchange Rates hte cin xan aes seeroen tame ae Cte hone Rat honey mad in ung or a jr 5 tae ats he et ern the Sr 33 PART 7 The Balance of Payments pr kdb PART & Applications and Plicy Issues apt Fada Fasting ‘eran net api Por sd eb Preface Wy a New Approach Was Needed ‘vn ini elnino mine in ein lee te “a ‘Se sggeaches it dc lyf naman coms Wh sky are ‘oe rr see tne yd Whee ag dap of he toe ent fm the sen pte rar i ed a got SALE Sy te or cert bn opens to Sieh hepato ep y Wiy Our Book is biferent Emphasis on Empirical Studies (beret rc sped sce dT ech bn ly api ‘ise Stn oti ha oo ating ge Applications Gna wereed epg pomp of cing gf ming ‘eg ir ama ean ey Ser eed ‘em rps eno Balanced Coverage of Emerging and Advanced Economies Inca ew ening mason dng canis ee sen Sie thir as ne oe Features ‘Mrs png ey aSproat ei Sntel pceroe anton 4 SIDE BAR tint pl a whe ot en eck pete ee Se tee arco » anper aires Seeman ‘Septem ed chp ns ‘sea ty me Sy Uinosndetn emer NEW! ik pe do ch har po = Theta nmi oma ih dos mn ee “wa ie ee or ee 1 Sorption hd ert arenas) International Economics, Fourth Edition, Media launenPad ca ans mt die -nie tt f ‘poole game nol ok cn orf ng Cte El pod says pe ct eet = Compl ro 1 Pa i rin tn mre ‘mee gata fap pl omer ‘cep Une ee ene eyed na * eect easy tehegetin ges tinder Torso ened ol nr, Laing sutvitetvns strep pee cnsm | nrnce + NEW Donn Ds Pens pad empl ene Sect pal pt ial ma ie ‘New in Each Chapter ofthe Fourth Eton mepresr bore altar ens Se howe et el er Serhan St hp. nd os Ten te pec Mae as 1 lrse Onsen oe dee sn Fp seo teeter nr Sa od ates keh atone tee peraieiraaanincheraree ME ees estas oem eet otro ‘Seitane se iin tute Sey hh oe ae ‘Bho es dc nmgrne ring oon counts The Sep Excise eetiaiis oerasertace Popes res elem Selene eee ‘Sly ecru fe pc o NET ion wor SoZ Nation rtm a iy ome Td Sr see ricer STR arte aptoaan peRecienstic Spe onatien sotto ing i te i fain ma it spulinatcinmeasncawitctcne carey ‘ecru ne te em Sere bao ae tee tee Sobe ten ceinnes ete reer erasers hits eeareemoreast Saar meweme cess Sra Sieber enema Sxcercapecneraaet “Seeeseea eee “Etim Siar ce ene meee go sp lemarcieeeen ste Sea aieeadae ‘hts 13 Cpr ert to change Rats nd he Fri et seep pede nt ners Decry accep sein nd mpg Sane Fle Ren emma BED mer Gop 1 Chg nage te The Mant Agate Lng Sei yelled an ‘oops 5 (caer ane Th net gph te er a, [Steed soem RE {ape 16 (Cher Naa and Irion Ac ome We, ‘Si fr el Sl fe Bg ponsnot ae ni fo te of ean ‘Ege nd urna athe Sot a wey ‘einen ndan Dang genom HP cee ‘oper 21 (yes 10) The Bar, en hay pl ‘tetera dg Se npg cst ape nd ‘tec ne eoo e Topics and approaches een be iy pce he peice ‘Scent op mtn oni arta a EET cng rr Corr 0x lg ne ‘eter spe (pry taco speenc en co {GiB Lge Ts te alin wt hp snap ‘Shp me ergy ne lhe ero pe SitenetScap it Lites Come Bane hl eperanc el apa ert ge Cape Tes apne me cy or ink on sy eile Ligh in nd Ege ies cman cats ‘SZ"aeg interns nee hore mee {iceman leas sctg cone er me ee ‘Sis Chapa cy ear mvere cri ‘tn heh ie te stl pa (Soi inning dn Demos Cpr’ oe ‘Slee blz Chops} i tt een fpalycmn SES Sako, ii eens ny me ‘tj dni eb ne se pm eeeContents PART 1 nation otra ‘CHAPTER 1 Tae te oblong 1 1 mamas ade 2 mats Forint ivesent 18 2 ncn 26 PART 2 puters of temational ade Cuan 2 Yan tg Set cnc no nt) 2 edn Moda uy mucronata 2 iy at of erin a 2 orators 4 Shing formations es 50 5 concen 56 COPTER Gi ns on oe ate 1 Suse ee 8S ange of tbe serena ete ore sunt sey aig Cpl nd 77 Seeatyecrmen pt ‘waite rine ren ec On ode 9 1 fer china 90 2 tng te Heder On Had! 00 re ati aneameogn eget wets hrc ‘Srton ane we eta ‘orc pete 2 Movement of capa etmton emis: For ec este 1 nace gee ges routs met aes 3 Gastar and Cpl lows 86 stato eon PART 3 new Explanation for Internatona ade CHMPTERS wes tees Sale and Nnoplte Conpetin 13 1 aise parte competion 172 ‘ean 2 ade Under Hoop compen 175 tetinteeto 2 The rth Amer re ade gen 12 ‘Sh Agemencon err sou etn4 nd ae Gent (teeter 5 cones 18 CHAPTER ofshoing of oo Serco 24 tr ‘yestun one ‘Speco 2 pining Changs inves Eloy 2 Seer dnttetetttons Seeergt hitter 2 Tea om ofa 21 44 ert fOr and 2 5 Cocuone 04 PART 4 ternational ade Poices HAPTER mp: Tai nd Quotes Unde ect Compettion 281 1 Ait try of Be Wo ae Somnsn Ba 2 To Ge om ae 206 2 Inport air Sl Cunt 280, ptm ae 2 Soran stata 4 pot Tala Cum 263 toutes 5 npr uns 210 nny a ei ome © conn 8 COUMPTER> npr oie nd tg ne 1 te ae ans th Home enol 27 2 wth Frege Mang 287 2 bumping 301 4 oy Rept Dapig30 smc rg Semorina ne 95 frckcateumhareaiets bed and High ecaogy Inauses 38 1 to cos on Arta Ses 38 yah ents gag eT 2 ort Seis ina Sl Home Coury 28 ‘ete 3 kaon esis ina eg Home Cmry34 $5 gor as 308 Imo nt snc 0 unter tatoo 6 gor cuts 53 ‘rucion ig nd 1 Nigh tel prt Sess 389 ‘ingore ae concn 368 1 taal ade Aeon 377 2 soa Wade omens 382 ‘New ore ae hm perraiemat os2 ral arenment oh aber ees 382 ADEs tr la DUNE Sap nt ate 1 ration penen 8 he od = PART 5 introduction to international NMacoeconomics CHAPTER 12 Te Gol Macsenomy 3 1 orig change: Cares an rs 26 ‘setae ta es Seam ninoy 2 aio Fins: De cla rm 4 2 Goverment stuns es and sectnetentcrne mente Samohi ‘yhoo PART 6 cxchange Rates CCPTER 12 Introduction to Exchange Fawr athe Foreign change Mant 447 1 change Rt sna 88 Sconce ‘Senge tg 2 Tent fr na edge 1 4 meagan pot hang ates 66 ane nn a ‘Spare ron CURTER 1 cachange Rates The Monetary Aoprosch nthe tong Ra ‘change tes es in the Lon a ‘tag fer yan ome ne ‘potent sous meri one an xp fates te {nga honey Mave Egat na ‘Soh ofl Sernpasagea te ‘Stine ec ae ‘he Monta Aapros ipleatinan er non ig ge ott 6 on tae Rate nd ese wt cnr oa St 5 Moma ng te 6 concn 5 ‘ee et ue bon " pipeteasterece =: Screen sears 2 mart tan Sort a Maney Monet 8Aree seni et 1 meso agnecoani CHUBTERT Balance of Payments consons 6 ‘ean eevendoe 5 The cains fom Finis!” teat ed Semester teinmsiaaret cnet tmnt ‘lbsinaon 62 cease enters Eanes mente 1 uit ote cant CHAPTER 18 salance of Payments ‘nae Dutt, Exchange fats and the short un 6 2 cam roi. ad pent 85 clas gure ser ee ae ee Saenger esters rennin meeercusmem in emt serve gatas ae ie eager a sensor gemma NSE, eee nen a sooramecoae cee ser 2 civhoncemmptrtmtigen —Numsnnrys sontciiniatewart et eee pesalicentete rer a cae ee oe pes = = oe Se - nme nan SO devel 3 The Balance of Payments 600 “SIDE BAR Msn Ce Axa 6 ‘SIDE BAR Bares 9 endire Swttiog: dpieieecaeaeeee * Rae teinae ee, Buea wicca Scns aise =. > oun nes nsonn ——— eee caaacees 7S apate en Nytyneage oe ‘eo moar ad heen coe enn eae OE RAR veo jk SOCEAE PrmueemMaenbebee Se eee Sor oo = Ses rear anintemttn APPOCATION ate Fen a Ma ~ — APPLICATION Debi Sey te Its ore Matt Rc 8 = ‘je fu Comtin Gan anlar? 651 ‘eg Ca 5 Cnn comm Sanenns PART 7 the Balance of Payments ee se oscrarartaea 4st iin Dein te 4s tom Debate fi 58 ome ae CHAPTER 6 ational anderson 5 Concens 613 Sear taestoro oe Peotone Wet ard Soe pa pnts ta nr Samer Sebaune ef PomensS7— uyrenatnters nore ‘Sarre mt5 the Sor. -U Model fn Oper Eom enh ray ‘ts ar cas ‘entrain 6 Stbieon og 711 eran eared coy tens ate ieee 870) PART 8 Applications and Ply Issues HAPTER 19 Fed Versus ating Intestinal Monetary eros 728 1 badange at ain hie ey 05 731 Sorcaon sande 1 ‘Sige tw at sorcery a te 2 or ent of ig 7 Sec . SOE 0aR aca eam 2 fd Exh at Sper 72 > foregtrak misert 4 mete emerge “toe a cogent tty Sener ‘The Rk tl: Cot aetna 5 canon 77 pele CuMFTER 20 xcange ties: tow — Feo and ow ey oC coo 1 fc Abt cg an Snel tyne (CHAPTER 24 The Cure 627 Sovtan news cn aes se Sorrenncneent 2 ton fpr Mei od Seeoncaet Eager Senate tem sorcerer min ett be top eee fen sore Yas nT Tine ‘emo! ot omc Ainge 0 70 hyn‘The Arrangement of Topics: International Trade art: nrodction to Intemational ade “Ree me Sg oh i a la ‘Rodin usp rs al of a anh Steere Th diet kl wot age Sew Serpetielirath ee hee poet een ck Hie seige fone ei poe Teter fu 2 ts of ron a . ‘(Gh yh sett al Chap hand he Hacer hn ede ef ersten batt necicone Sore ate gecesi ieee Set eaitieteny ree Saree tte eee Reiterates Sthiecewen tee Petumamenc ements art 3: New Explanations fr Interationa Wade yew extn r wracn rde Eohaiecnemanwomcaat ops ps Stes eens ear ac meacterpeetued ety bees Ts ape ‘Eits Pa Semen 5 Se ern Ceo nd might Seema ries ease een eee Sore oi tn meyer mt Sa Poet International ade Pos Tsang penne orm costo worse Slee okt yeteeemption eons Oe ie opr ‘Ghee nr Char al al of rd sean nen Gop Ogee Site lar lng wah 5 qu we pe cmp eb sot ene esp x prio ming Sects eter slo 6 hey oreo le sph ow ie ‘Sompas ence pt ee he cae de) The cape nc ee ‘pple ge Weber US aque st re en ial Ch emg nr nak “Sano beng seo ui fu ee dep a get a re de mae es Whe cb ‘Slum meres sce fee igen Che ty sg ope orignal cs Chapt e ose Sees mt pt in yn ess ‘Siatindoey pn Gaps de ncaa ‘because nage cr men Ch, Ceri “he Ny ein pm or ee compen am el Sinan ema nt ae ‘cerumyrateTeoe mr ea ‘The rangement of Topics: International Macroeconomics art's (Prt 1 in International Macroeconomics}: Itoduction {0 Internation! Macroeconomics, ARS amass f fe Hose nd edage se bape a he ke oa art (Part 2}: Exchange Rates ‘Keefe ied pein by regener iea Seat tov me ea Ce Chap a ne nog te ee be re etn Semteaanrsees i Se ocr stnp sy ley en ace “pone ec i incr ao pe ‘SRST Utena cer iets ol Choe 15 (Cape peste woe pend wth durin of cl ts Set Une ee pg od SERIE ther we mu ee ony enced eet rs tn ie eo he ag te Er neory and oe spas Better os omg hyo ‘pm ee Port 7 (Prt 3): he Balance of Payments Bip Chern eon me ely aces Se pad el se eon parm ch Taig Pe Pat hc ha Pa 6 3 ia tec tpi aay Se ee niente So eceeepecieeies Sueigaeen een setenatoeae Vassar eee ance aemameenat etree: Se eiecras ‘Soe aes a oe eee as ‘Sage bananas ewe aan re ‘nce ms bm cn fe er ci lng Sa eee Sens Sooasnseeeaes grit be Opi Corny OC tm meme ag cra ieeameemen hoes societal ent epee ‘Seaplane ence St rycen cig lige er acerca arr ec fs ogo ee fume ety (UD ee oe he ‘Soren ry rio tr thee pring per PP ge rin ag wien eects ne macnn ohee of din eyo id Noe taj gil onan he el nl eprops ns tered econ cri ‘Nolte ae etree Fecal a td i Sen ieparl pers ic Pl ely pn SEES Coe OTN ‘a hp Ts a ne cn Gay Se hs 9c Teh omc ee el SETHE ncn enn el pena ‘Alternative Routes Through the Tet ce hi ke ei nl i no umes cae (Sit pein nl twine [sacme santero cee tices ees hes ieerecrgre omar Sheesh en at Sle aera ee aera eed ee Senet Se aed mtn oe eon Btmmnnmset aatag entation mee hese meer ee ee ern her ea eer rag

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