Table of Contents

Introduction.- PART ONE: THEORY.- An Open Economy Macroeconomic Model.- Trade Functions and Capital Movements.- Balance of Payments Theory.- Theories of Exchange Rate Determination.- Theories of Currency Crisis.- PART TWO: POLICY.- Balance of Payments Policy.- Stabilisation Policy in an Open Economy.- Exchange Rate Management and Policy.- Dealing with International Capital Volatility.- The International Co-ordination of Macroeconomic Policy.- PART THREE: APPLICATIONS.- The Oil Crisis of the 1970s and the Debt Crisis of the 1980s.- Monetary Integration in Europe: the UK and the Euro.- Currency and Economic Crises in Emerging Economies.- The US Current Account Deficit and Global Economic Imbalances.- The International Monetary Fund and Macroeconomic Policy.- Notes.- Index.

About the Author

GRAHAM BIRD is Professor of Economics at the University of Surrey, UK, and Director of the Surrey Centre for International Economic Studies. He is Visiting Professor of International Economic Affairs at the Fletcher School of Law and Diplomacy, Tufts University, USA. He has been an adviser to a number of international organizations including the World Bank, UNDP and UNICEF. He is the author or editor of more than twenty books and monographs and over 150 papers.