出版說明
導讀
作者簡介
前言
教學建議
第1章國際貿易概述 1
1.1國民經濟的特點 3
1.2國際貿易的方向 13
1.3國家間進行貿易的是什么商品 18
第2章國際貿易模型分析工具 27
2.1一些方法論上的準備 29
2.2基本模型:假設 31
2.3基本模型:解 41
2.4測度國家福利 44
2.5國家供給和需求 46
第3章古典國際貿易模型 53
3.1以絕對優勢為基礎的貿易:亞當·斯密模型 54
3.2作為貿易基礎的比較優勢理論:大衛.李嘉圖模型 60
3.3古典模型的一般均衡解 62
3.4國際貿易的收益 67
3.5貿易和工資的關系 70
3.6對古典模型的評價 75
第4章赫克歇爾-俄林模型 85
4.1HO模型:基本假設 87
4.2HO定理 92
4.3HO模型中的均衡 94
4.4一些新的HO定理 100
4.5一些*終的觀察 106
第5章貿易模型的檢驗:列昂惕夫之謎及其發展 119
5.1對古典貿易模型的檢驗 120
5.2對HO模型的檢驗 122
5.3對列昂惕夫之謎的解釋 125
5.4關于HO模型的其他檢驗 128
5.5關于HO模型的*新檢驗 129
5.6比較優勢論的其他一些理論 132
5.7產業內貿易 135
5.8報酬遞增和不完全競爭 137
5.9結論 142
第6章關稅 146
6.1自由貿易的利益 147
6.2關稅簡述 150
6.3關稅的經濟分析 154
6.4再論自由貿易的利益 156
6.5關稅的福利成本 159
6.6關稅的擴展 163
第7章非關稅壁壘和關于貿易保護的爭論 179
7.1配額 180
7.2配額的福利效應 183
7.3關稅和配額的異同 186
7.4其他非關稅壁壘 188
7.5關于貿易保護的爭論 194
第8章商業政策的歷史與實踐 215
8.1美國商業政策的歷史 216
8.2烏拉圭回合與WTO的建立 224
8.3多哈回合 229
8.4美國商業政策的執行 231
第9章特惠貿易協定 248
9.1特惠貿易協定:經濟分析 250
9.2北美自由貿易協定 254
9.3美國的其他自由貿易區協定 259
9.4歐盟 261
9.5地區主義與多邊主義 264
第10章國際貿易與經濟增長 270
10.1國際貿易與經濟發展 271
10.2國際貿易與經濟增長 276
10.3國際貿易與經濟增長的評論 285
10.4國際要素流動 289
第11章國際金融概述 302
11.1國際收支平衡表 303
11.2匯率 303
11.3價格與匯率 306
11.4利息率與匯率 307
11.5其他重要話題 309
第12章國際收支平衡 312
12.1經常賬戶 316
12.2其他匯總方法 321
12.3交易分類 322
12.4國際收支平衡表的均衡及其調整 325
第13章外匯市場 330
13.1即期匯率 331
13.2套匯 334
13.3遠期匯率 336
13.4掉期 338
13.5期貨市場 340
13.6匯率供需與中央銀行干預 343
13.7黑市和平行市場 345
第14章價格和匯率:購買力平價 349
14.1絕對購買力平價 350
14.2相對購買力平價 353
14.3時間、通貨膨脹和購買力平價 354
14.4對購買力平價的偏離 357
14.5“高估”和“低估”的貨幣 360
14.6實際匯率 363
第15章匯率、利率和利率平價 367
15.1利率平價 368
15.2利率和通貨膨脹 372
15.3匯率、利率和通貨膨脹 373
15.4預期匯率和利率的期限結構 374
第16章外匯風險、預測與國際投資 381
16.1外匯風險的分類 382
16.2外匯風險溢價 385
16.3市場有效性 388
16.4外匯預測 390
16.5國際投資和資產組合多樣化 392
16.6外國直接投資 396
16.7資本外逃 399
16.8資本流入問題 400
16.9國際借貸和危機 401
第17章國際收支基本理論 408
17.1貿易收支的彈性論 409
17.2彈性和J曲線 413
17.3貨幣貶值的證據 419
17.4貿易收支的吸收論 421
17.5國際收支的貨幣論 422
第18章匯率理論 435
18.1資產分析法 436
18.2貨幣分析法 438
18.3資產組合平衡分析法 442
18.4沖銷 443
18.5匯率與貿易平衡 446
18.6匯率超調 448
18.7貨幣替代 451
18.8新聞的作用 453
18.9外匯市場的微觀結構 454
第19章國際貨幣本位 459
19.1金本位:1880~1914年 460
19.2戰爭時期:1918~1939年 463
19.3金匯兌本位:1944~1970年 464
19.4過渡期:1971~1973年 467
19.5浮動匯率制:1973年至今 467
19.6匯率制度選擇 472
19.7*優貨幣區 475
19.8歐洲貨幣體系和歐元 476
19.9目標區 479
19.10貨幣發行局 480
19.11國際儲備貨幣 482
19.12多重匯率制度 486
第20章國際銀行業務、債務和風險 490
20.1離岸銀行業務的起源 491
20.2國際銀行業務機構 496
20.3離岸銀行業務 497
20.4國際債務 501
20.5國際貨幣基金組織的貸款條件性 503
20.6腐敗的影響 504
20.7國家風險分析 505
第21章開放經濟下的宏觀政策及其調整 511
21.1內部和外部宏觀經濟均衡 512
21.2IS曲線 513
21.3LM曲線 516
21.4BP曲線 517
21.5均衡 517
21.6固定匯率制度下的貨幣政策 518
21.7固定匯率制度下的財政政策 520
21.8浮動匯率制度下的貨幣政策 521
21.9浮動匯率制度下的財政政策 522
21.10新開放經濟宏觀經濟學 523
21.11國際政策協調 524
21.12全球金融危機及宏觀經濟影響 528
21.13開放經濟乘數 529
Contents
Chapter 1An Introduction to International Trade 1
Characteristics of National Economies 3
Economic Growth 8
International Trade 9
The Direction of International Trade 13
What Goods Do Countries Trade? 18
Summary 25
Exercises 26
Chapter 2Tools of Analysis for International TradeModels 27
Some Methodological Preliminaries 29
The Basic Model: Assumptions 31
GLOBAL INSIGHTS 2.1: World Response to Higher RelativePrice of Oil 33
The Basic Model: Solutions 41
Measuring National Welfare 44
National Supply and Demand 46
Summary 48
Exercises 49
Appendix 2.1Derivation of National Supply and Demand Curves 51
Chapter 3The Classical Model of International Trade 53
Absolute Advantage as a Basis for Trade: Adam Smith抯 Model 54
Comparative Advantage as a Basis for Trade: DavidRicardo抯 Model 60
The General Equilibrium Solution of the Classical Model 62
The Gains from International Trade 67
GLOBAL INSIGHTS 3.1: Japan抯 Gains from Entry into WorldTrade in 1858 70
The Relationship Between Trade and Wages 70
GLOBAL INSIGHTS 3.2: Wage and Productivity Comparisons for the UnitedStates and Mexico 73
An Evaluation of the Classical Model 75
Summary 76
Exercises 76
Appendix 3.1The Classical Model with Many Goods 79
Appendix 3.2Offer Curves and the Terms of Trade 81
Chapter 4The Heckscher朞hlin Model 85
The HO Model: Basic Assumptions 87
GLOBAL INSIGHTS 4.1: Capital/Labor Ratios of Selected U.S. Industries 89
The HO Theorem 92
Equilibrium in the HO Model 94
Some New HO Theorems 100
GLOBAL INSIGHTS 4.2: Trade, Wages, and Jobs in the U.S. Economy 104
Some Final Observations 106
Summary 107
Exercises 107
Appendix 4.1Alternate Proofs of Selected HO Theorems 110
The Heckscher朞hlin Theorem (Price Definition) 111
The Rybczynski Theorem 113
The Stolper朣amuelson Theorem 114
Appendix 4.2The Specific Factors Model 116
Chapter 5Tests of Trade Models: The Leontief Paradox and Its Aftermath 119
Tests of the Classical Model 120
Tests of the HO Model 122
Attempted Reconciliations of Leontief抯 Findings 125
Other Tests of the HO Model 128
Recent Tests of the HO Model 129
Alternative Theories of Comparative Advantage 132
Human Skills Theory 132
Product Life Cycle Theory 133
Similarity of Preferences Theory 134
Intraindustry Trade 135
Increasing Returns and Imperfect Competition 137
Conclusions 142
Summary 143
Exercises 144
References 145
Chapter 6Tariffs 146
The Gains from Free Trade 147
Tariffs: An Introduction 150
Tariffs: An Economic Analysis 154
The Gains From Free Trade: One More Time 156
The Welfare Cost of Tariffs 159
Tariffs: Some Extensions 163
Export Tariff 163
GLOBAL INSIGHTS 6.1: The Welfare Costs of Tariffs: Estimates fromCertain U.S. Industries 164
GLOBAL INSIGHTS 6.2: Export Tariffs on Various Agricultural Products 167
The Optimal Tariff 168
GLOBAL INSIGHTS 6.3: The Smoot-Hawley Tariff and Its Aftermath 172
How High Are Tariffs? 174
Summary 176
Exercises 176
References 178
Chapter 7Nontariff Barriers and Arguments for Protection 179
Quotas 180
The Welfare Effects of Quotas 183
The Equivalence or Nonequivalence of Tariffs and Quotas 186
Other Nontariff Barriers 188
Customs Valuation Practices 188
Government Procurement Policies 189
Technical Barriers to Trade 190
Health and Safety Standards 191
Failure to Protect Intellectual Property Rights 192
Export Subsidies 193
Arguments for Protection 194
Invalid Arguments 195
Valid Arguments 197
GLOBAL INSIGHTS 7.1: Trade, Technology, and U.S. Pollution 208
Summary 212
Exercises 213
References 214
Chapter 8Commercial Policy: History and Practice 215
History of U.S. Commercial Policy 216
GLOBAL INSIGHTS 8.1: The GATT Agreement 221
The Uruguay Round and the Creation of the WTO 224
TRADE POLICY CASE STUDY 1: U.S. Tuna Quotas to Save Dolphins 228
The DOHA Round 229
The Conduct of U.S. Commercial Policy 231
Dumping 231
Antidumping Law 234
Countervailing Duty Law 236
Unfair Foreign Practices: Section 301 238
TRADE POLICY CASE STUDY 2: The International Bananas Dispute 239
The Escape Clause: Section 201 241
TRADE POLICY CASE STUDY 3: Escape Clause Tariffs on U.S. SteelImports 242
Other Measures 243
Comparisons with Policies in Other Countries 244
Summary 246
Exercises 246
References 247
Chapter 9Preferential Trade Arrangements 248
Preferential Trade Arrangements: Economic Analysis 250
North American Free Trade Agreement 254
GLOBAL INSIGHTS 9.1: Details of the NAFTA 255
Other U.S. Free-Trade Area Agreements 259
European Union 261
The EU Government 261
The Single Market Initiative 263
Regionalism versus Multilateralism 264
GLOBAL INSIGHTS 9.2: Other Preferential Trade Arrangements 265
Summary 267
Exercises 268
References 269
Chapter 10International Trade and Economic Growth 270
Trade and Development 271
Primary-Export-Led Development Policies 272
Import-Substitution Development Policies 275
Outward-Looking Development Policies 276
Trade and Growth 276
Trade and Growth: Some Additional Comments 285
Technological Change 285
Growth, Prices, and Welfare 286
GLOBAL INSIGHTS 10.1: The Dutch Disease 288
International Flows of Factors 289
Labor 289
Capital 291
Economic Analysis 294
GLOBAL INSIGHTS 10.2: U.S. Outsourcing 295
Summary 299
Exercises 300
References 301
Chapter 11An Introduction to International Finance 302
The Balance of Payments 303
Exchange Rates 303
Prices and Exchange Rates 306
Interest Rates and Exchange Rates 307
Additional Major Topics 309
Summary 311
Exercises 311
Chapter 12The Balance of Payments 312
Current Account 316
Financing the Current Account: The Financial Account 318
National Saving, Investment, and the Current Account 319
GLOBAL INSIGHTS 12.1: The World抯 Largest Debtor 320
Additional Summary Measures 321
Transactions Classification 322
Balance-of-Payments Equilibrium and Adjustment 325
Summary 327
Exercises 327
References 328
Chapter 13The Foreign-Exchange Market 330
Spot Rates 331
Arbitrage 334
Forward Rates 336
Swaps 338
The Futures Market 340
Foreign-Currency Options 341
GLOBAL INSIGHTS 13.1: Exchange Rate Indexes 342
Exchange Rate Supply and Demand and Central-Bank Intervention 343
Black Markets and Parallel Markets 345
Summary 346
Exercises 346
References 348
Chapter 14Prices and Exchange Rates: Purchasing Power Parity 349
Absolute Purchasing Power Parity 350
GLOBAL INSIGHTS 14.1: The U.S. Consumer Price Index 351
Relative Purchasing Power Parity 353
Time, Inflation, and PPP 354
GLOBAL INSIGHTS 14.2: Hyperinflation in Bolivia 355
Deviations from PPP 357
揙vervalued?and 揢ndervalued?Currencies 360
GLOBAL INSIGHTS 14.3: Big Mac PPP 361
Real Exchange Rates 363
Summary 364
Exercises 365
References 366
Chapter 15Exchange Rates, Interest Rates, and Interest Parity 367
Interest Parity 368
Interest Rates and Inflation 372
GLOBAL INSIGHTS 15.1: Globalization and Interest Rates 373
Exchange Rates, Interest Rates, and Inflation 373
Expected Exchange Rates and the Term Structure of Interest Rates 374
Summary 377
Exercises 377
References 378
Appendix 15.1Taxation and Interest Rate Parity 379
Chapter 16Foreign-Exchange Risk, Forecasting,and International Investment 381
Types of Foreign-Exchange Risk 382
Foreign-Exchange Risk Premium 385
Market Efficiency 388
GLOBAL INSIGHTS 16.1: The Carry Trade 390
Foreign-Exchange Forecasting 390
International Investment and Portfolio Diversification 392
Direct Foreign Investment 396
Capital Flight 399
Capital Inflow Issues 400
International Lending and Crises 401
Summary 404
Exercises 405
References 406
Chapter 17Basic Theories of the Balance of Payments 408
The Elasticities Approach to the Balance of Trade 409
Elasticities and J Curves 413
The Currency-Contract Period 413
The Pass-Through Period 415
Section IV桾he U.S. Balance of Trade Decreases 415
Section III桾he U.S. Balance of Trade Is Constant 417
Section II桞alance of Trade May Increase or Decrease 417
Section I桞alance of Trade Increases 417
GLOBAL INSIGHTS 17.1: The Pass-Through Effect and Profits 418
The Evidence from Devaluations 419
The Absorption Approach to the Balance of Trade 421
The Monetary Approach to the Balance of Payments 422
Summary 427
Exercises 428
References 429
Appendix 17.1Stable Foreign-Exchange Markets and theMarshall朙erner Condition 430
Chapter 18Exchange Rate Theories 435
The Asset Approach 436
The Monetary Approach 438
The Portfolio-Balance Approach 442
Sterilization 443
Exchange Rates and the Trade Balance 446
Overshooting Exchange Rates 448
Currency Substitution 451
The Role of News 453
Foreign-Exchange Market Microstructure 454
Summary 456
Exercises 457
References 458
Chapter 19Alternative International Monetary Standards 459
The Gold Standard: 1880?914 460
The Interwar Period: 1918?939 463
The Gold Exchange Standard: 1944 ?970 464
GLOBAL INSIGHTS 19.1: The International Monetary Fund 465
The Transition Years: 1971?973 467
Floating Exchange Rates: Since 1973 467
The Choice of an Exchange Rate System 472
Optimum Currency Areas 475
The European Monetary System and the Euro 476
Target Zones 479
Currency Boards 480
GLOBAL INSIGHTS 19.2: Speculative Attacks and the Mexican and Asian Financial Crises 481
International Reserve Currencies 482
Multiple Exchange Rates 486
Summary 487
Exercises 487
References 488
Chapter 20International Banking, Debt, and Risk 490
The Origins of Offshore Banking 491
GLOBAL INSIGHTS 20.1: A Black Swan in the Financial Market 494
International Banking Facilities 496
Offshore Banking Practices 497
GLOBAL INSIGHTS 20.2: Islamic Banking 500
International Debt 501
IMF Conditionality 503
The Role of Corruption 504
Country-Risk Analysis 505
Summary 509
Exercises 509
References 510
Chapter 21Open-Economy Macroeconomic Policy and Adjustment 511
Internal and External Macroeconomic Equilibrium 512
The IS Curve 513
The LM Curve 516
The BP Curve 517
Equilibrium 517
Monetary Policy under Fixed Exchange Rates 518
Fiscal Policy under Fixed Exchange Rates 520
Monetary Policy under Floating Exchange Rates 521
Fiscal Policy under Floating Exchange Rates 522
The New Open-Economy Macroeconomics 523
International Policy Coordination 524
GLOBAL INSIGHTS 21.1: The Plaza Agreement 526
Global Financial Crisis and Macroeconomic Effects 528
The Open-Economy Multiplier 529
Summary 531
Exercises 532
References 533