Cover: International Macroeconomics, 6th Edition by Robert Feenstra; Alan Taylor

International Macroeconomics

Sixth Edition  ©2027 Robert Feenstra; Alan Taylor Formats: Achieve, E-book

Authors

  • Headshot of Robert C. Feenstra

    Robert C. Feenstra

    Robert C. Feenstra is Professor of Economics at the University of California, Davis. He received his B.A. in 1977 from the University of British Columbia, Canada, and his Ph.D. in economics from MIT in 1981. Feenstra has been teaching international trade at the undergraduate and graduate levels at UC Davis since 1986, where he holds the C. Bryan Cameron Distinguished Chair in International Economics. Feenstra is a research associate of the National Bureau of Economic Research, where he directs the International Trade and Investment research program. He is the author of Offshoring in the Global Economy and Product Variety and the Gains from Trade (MIT Press, 2010). Feenstra received the Bernhard Harms Prize from the Institute for World Economics, Kiel, Germany, in 2006, and delivered the Ohlin Lectures at the Stockholm School of Economics in 2008. He lives in Davis, California, with his wife Gail, and has two grown children: Heather, who is a genetic counselor; and Evan, who recently graduated from Pitzer College.

  • Headshot of Alan M. Taylor

    Alan M. Taylor

    Alan M. Taylor is Professor of Economics at the University of California, Davis. He received his B.A. in 1987 from King’s College, Cambridge, U.K and earned his Ph.D. in economics from Harvard University in 1992. Taylor has been teaching international macroeconomics, growth, and economic history at UC Davis since 1999, where he directs the Center for the Evolution of the Global Economy.  He is also a research associate of the National Bureau of Economic Research and coauthor (with Maurice Obstfeld) of Capital Markets: Integration, Crisis and Growth (Cambridge University Press, 2004). Taylor was awarded a Guggenheim Fellowship in 2004 and was a visiting professor at the American University in Paris and London Business School in 2005–06.  He lives in Davis, with his wife Claire, and has two young children, Olivia and Sebastian.

Table of Contents

PART 1 INTRODUCTION TO INTERNATIONAL MACROECONOMICS

  1. The Global Macroeconomy

PART 2 EXCHANGE RATES

  1. Introduction to Exchange Rates and the Foreign Exchange Market
  2. Exchange Rates I: The Monetary Approach in the Long Run
  3. Exchange Rates II: The Asset Approach in the Short Run

PART 3 THE BALANCE OF PAYMENTS

  1. National and International Accounts: Income, Wealth, and

the Balance of Payments

  1. Balance of Payments I: The Gains from Financial Globalization
  2. Balance of Payments II: Output, Exchange Rates, and Macroeconomic Policies in the Short Run

PART 4 APPLICATIONS AND POLICY ISSUES

  1. Fixed Versus Floating: International Monetary Experience
  2. Exchange Rate Crises: How Pegs Work and How They Break
  3. The Euro: Economics and Politics
  4. (online only) Topics in International Macroeconomics

Product Updates

What's New?

This new edition includes updated data, current policy discussions, and new examples that reflect today's global macroeconomic landscape.

  • Chapter 1: The Global Macroeconomy contains a new introduction and updated evidence on the evolution of international capital mobility.
  • Chapter 2: Introduction to Exchange Rates and the Foreign Exchange Market updates the discussion of purchasing power parity (PPP) and the Big Mac Index.
  • Chapter 6: Balance of Payments I: The Gains from Financial Globalization revises data and expands the discussion of U.S. "exorbitant privilege."
  • Chapter 10: The Euro: Economics and Politics features thorough updates to reflect the most recent changes in the European Union and the Eurozone.

Authors

  • Headshot of Robert C. Feenstra

    Robert C. Feenstra

    Robert C. Feenstra is Professor of Economics at the University of California, Davis. He received his B.A. in 1977 from the University of British Columbia, Canada, and his Ph.D. in economics from MIT in 1981. Feenstra has been teaching international trade at the undergraduate and graduate levels at UC Davis since 1986, where he holds the C. Bryan Cameron Distinguished Chair in International Economics. Feenstra is a research associate of the National Bureau of Economic Research, where he directs the International Trade and Investment research program. He is the author of Offshoring in the Global Economy and Product Variety and the Gains from Trade (MIT Press, 2010). Feenstra received the Bernhard Harms Prize from the Institute for World Economics, Kiel, Germany, in 2006, and delivered the Ohlin Lectures at the Stockholm School of Economics in 2008. He lives in Davis, California, with his wife Gail, and has two grown children: Heather, who is a genetic counselor; and Evan, who recently graduated from Pitzer College.

  • Headshot of Alan M. Taylor

    Alan M. Taylor

    Alan M. Taylor is Professor of Economics at the University of California, Davis. He received his B.A. in 1987 from King’s College, Cambridge, U.K and earned his Ph.D. in economics from Harvard University in 1992. Taylor has been teaching international macroeconomics, growth, and economic history at UC Davis since 1999, where he directs the Center for the Evolution of the Global Economy.  He is also a research associate of the National Bureau of Economic Research and coauthor (with Maurice Obstfeld) of Capital Markets: Integration, Crisis and Growth (Cambridge University Press, 2004). Taylor was awarded a Guggenheim Fellowship in 2004 and was a visiting professor at the American University in Paris and London Business School in 2005–06.  He lives in Davis, with his wife Claire, and has two young children, Olivia and Sebastian.

Table of Contents

PART 1 INTRODUCTION TO INTERNATIONAL MACROECONOMICS

  1. The Global Macroeconomy

PART 2 EXCHANGE RATES

  1. Introduction to Exchange Rates and the Foreign Exchange Market
  2. Exchange Rates I: The Monetary Approach in the Long Run
  3. Exchange Rates II: The Asset Approach in the Short Run

PART 3 THE BALANCE OF PAYMENTS

  1. National and International Accounts: Income, Wealth, and

the Balance of Payments

  1. Balance of Payments I: The Gains from Financial Globalization
  2. Balance of Payments II: Output, Exchange Rates, and Macroeconomic Policies in the Short Run

PART 4 APPLICATIONS AND POLICY ISSUES

  1. Fixed Versus Floating: International Monetary Experience
  2. Exchange Rate Crises: How Pegs Work and How They Break
  3. The Euro: Economics and Politics
  4. (online only) Topics in International Macroeconomics

Product Updates

What's New?

This new edition includes updated data, current policy discussions, and new examples that reflect today's global macroeconomic landscape.

  • Chapter 1: The Global Macroeconomy contains a new introduction and updated evidence on the evolution of international capital mobility.
  • Chapter 2: Introduction to Exchange Rates and the Foreign Exchange Market updates the discussion of purchasing power parity (PPP) and the Big Mac Index.
  • Chapter 6: Balance of Payments I: The Gains from Financial Globalization revises data and expands the discussion of U.S. "exorbitant privilege."
  • Chapter 10: The Euro: Economics and Politics features thorough updates to reflect the most recent changes in the European Union and the Eurozone.

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