Money, Capital Mobility, and Trade : Essays in Honor of Robert A. Mundell

Annotation Written by Robert Mundell's academic descendants, as well as other leading economists and scholars, the essays in this volume reflect Mundell's broad influence on modern open-economy macroeconomics. The topics include the vicissitudes of gold in the international system, choice of exchange rate regime, post-World War II European monetary reform, banking crises in emerging markets, speculative attacks on fixed exchange rates, monetary policy rules, interactions between economists and policy makers over macrostabilization and structural microeconomic issues, the connection between international factor mobility and trade, the Mundell-Fleming open-economy macro model, the quantitative implications of general-equilibrium sticky price models, the international roles of the euro and yen, and the employment effects of import tariffs The International Effects Of Monetary And Fiscal Policy In A Two-country Model / Caroline Betts And Michael B. Devereux -- The Rise And Fall Of A Barbarous Relic: The Role Of Gold In The International Monetary System / Michael D. Bordo And Barry Eichengreen -- Fostering Financial Stability: A New Case For Flexible Exchange Rates / Roberto Chang And Andrés Velasco -- Curing A Monetary Overhang: Historical Lessons / Rudi Dornbush And Holger Wolf -- Staying Afloat When The Wind Shifts: External Factors And Emerging-market Banking Crises / Barry Eichengreen And Andrew K. Rose -- Perspectives On The Recent Currency Crisis Literature / Robert P. Flood And Nancy P. Marion -- Progress In The Theory Of Economic Policy / Francesco Giavazzi And Alberto Giovannini -- International Trade And Factor Mobility: An Empirical Investigation / Linda S. Goldberg And Michael W. Klein -- Saving, Investment, And Gold: A Reassessment Of Historical Current Account Data / Matthew T. Jones And Maurice Obstfeld -- Globalization And The Consequences Of International Fragmentation / Ronald W. Jones And Henryk Kierzkowski / Money Shocks And The Current Account / Philip R. Lane -- Euroland And East Asia In A Dollar-based International Monetary System: Mundell Revisited / Ronald I. Mckinnon -- The Business Cycles Of Balance-of-payments Crises: A Revision Of A Mundellian Framework / Enrique G. Mendoza And Martín Uribe -- Tariffs, Unemployment, And The Current Account: An Intertemporal Equilibrium Model / Shouyong Shi -- The Policy Rule Mix: A Macroeconomic Policy Evaluation / John B. Taylor. Edited By Guillermo A. Calvo, Rudi Dornbusch, And Maurice Obstfeld. Includes Bibliographical References And Index. The chapters that make up this volume originated as papers for a conference honoring Robert A. Mundell on his sixty-fifth birthday, including several papers that were prepared in Bob's honor but could not be presented because of a crowded agenda.