Foundations of International Macroeconomics

"Maury Obstfeld and Ken Rogoff are among the very best international macroeconomists working today. They are the perfect people to write the book we badly need -- a comprehensive, lucid treatment of the field that is neither sloppy nor doctrinaire, equipping its readers to understand both the broad areas of agreement among researchers and their important disputes. This book is ideal as a textbook, but it will also be a must-read for everyone in the field, no matter how senior. The chapters on sticky-price models, in particular, will, I predict, revolutionize the terms of the debate. A great achievement."
-- Paul Krugman, Ford International Professor of Economics, MIT, and author of "The Age of Diminished Expectations"

"This amazingly comprehensive book provides a lucid explanation of modern macroeconomic theory and applies the theory to a wide range of international issues. For reference and classroom use, it sets a new standard in open economy macroeconomics. The use of boxes and applications in an advanced graduate text such as this is unorthodox, but extremely effective."
-- John Campbell, Otto Eckstein Professor of Applied Economics, Harvard University

"This is a landmark treatment of dynamic, open-economy macroeconomics -- the only kind of macroeconomics that matters any more."
-- Paul Romer, Graduate School of Business, Stanford University "Foundations of International Macroeconomics" is an innovative text that offers the first integrative modern treatment of the core issues in open economy macroeconomics and finance. With its clear and accessible style, it is suitable for first-year graduate macroeconomics courses aswell as graduate courses in international macroeconomics and finance. Each chapter incorporates an extensive and eclectic array of empirical evidence. For the beginning student, these examples provide motivation and aid in understanding the practical value of the economic models developed. For advanced researchers, they highlight key insights and conundrums in the field.