Maurice Obstfeld's Books

Advancing the Frontiers of Monetary Policy

By: Tobias Adrian,Mr.Douglas Laxton,Mr.Maurice Obstfeld

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Advancing the Frontiers of Monetary Policy

By: Tobias Adrian,Mr.Douglas Laxton,Mr.Maurice Obstfeld

Contributors working at the International Monetary Fund present 14 chapters on the development of monetary policy over the past quarter century through the lens of the evolution of inflation-forecast targeting. They describe the principles and practices of inflation-forecast targeting, including managing expectations, the implementation of a forecasting and policy analysis system, monetary operations, monetary policy and financial stability, financial conditions, and transparency and communications; aspects of inflation-forecast targeting in Canada, the Czech Republic, India, and the US; and monetary policy challenges faced by low-income countries and how inflation-forecast targeting can provide an anchor in countries with different economic structures and circumstances.

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Page Count

297

Publisher

International Monetary Fund

Published Date

ISBN 10

148432594X

ISBN 13

9781484325940

Meeting Globalization's Challenges

Policies to Make Trade Work for All

By: Luís Catão,Maurice Obstfeld

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Meeting Globalization's Challenges

Policies to Make Trade Work for All

By: Luís Catão,Maurice Obstfeld

Leading economists propose solutions to the problems of globalization Globalization has expanded economic opportunities throughout the world, but it has also left many people feeling dispossessed, disenfranchised, and angry. Luís Catão and Maurice Obstfeld bring together some of today's top economists to assess the benefits, costs, and daunting policy challenges of globalization. This timely and accessible book combines incisive analyses of the anatomy of globalization with innovative and practical policy ideas that can help to make it work better for everyone. Meeting Globalization's Challenges draws on new research to examine the channels through which international trade and the diffusion of technology have enhanced the wealth of nations while also producing unequal benefits within and across countries. The book provides needed perspectives on the complex interplay of trade, deindustrialization, inequality, and the troubling surge of nationalism and populism—perspectives that are essential for crafting sound economic policies. It tackles the vexing issue of how to most effectively compensate globalization's losers and reintegrate them into job markets. The book also explores how to design social insurance policies that can mitigate the risks posed by automation and offshoring, such as mass unemployment and its inherent dangers to democracy. With a foreword by International Monetary Fund Managing Director Christine Lagarde and a history-rich synthesis by Catão and Obstfeld of main policy takeaways, Meeting Globalization's Challenges features contributions by Ufuk Akcigit, Edward Alden, François Bourguignon, Angus Deaton, Rafael Dix-Carneiro, Jeffry Frieden, Gordon H. Hanson, Keyu Jin, Lori G. Kletzer, Anne Krueger, Paul Krugman, Nina Pavcnik, Andrés Rodríguez-Clare, Dani Rodrik, Michael Trebilcock, Laura D. Tyson, Martin Wolf, and Ernesto Zedillo.

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Page Count

304

Publisher

Princeton University Press

Published Date

ISBN 10

0691198861

ISBN 13

9780691198866

Covered Interest Parity Deviations: Macrofinancial Determinants

By: Mr.Eugenio M Cerutti,Mr.Maurice Obstfeld,Haonan Zhou

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Covered Interest Parity Deviations: Macrofinancial Determinants

By: Mr.Eugenio M Cerutti,Mr.Maurice Obstfeld,Haonan Zhou

For about three decades until the Global Financial Crisis (GFC), Covered Interest Parity (CIP) appeared to hold quite closely—even as a broad macroeconomic relationship applying to daily or weekly data. Not only have CIP deviations significantly increased since the GFC, but potential macrofinancial drivers of the variation in CIP deviations have also become significant. The variation in CIP deviations seems to be associated with multiple factors, not only regulatory changes. Most of these do not display a uniform importance across currency pairs and time, and some are associated with possible temporary considerations (such as asynchronous monetary policy cycles).

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Publisher

International Monetary Fund

Published Date

ISBN 10

1484395212

ISBN 13

9781484395219

Global Capital Markets

Integration, Crisis, and Growth

By: Maurice Obstfeld,Alan M. Taylor

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Global Capital Markets

Integration, Crisis, and Growth

By: Maurice Obstfeld,Alan M. Taylor

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Page Count

382

Publisher

Cambridge University Press

Published Date

ISBN 10

0521633176

ISBN 13

9780521633178

A Tie That Binds

Revisiting the Trilemma in Emerging Market Economies

By: Mr.Maurice Obstfeld,Mr.Jonathan David Ostry,MissMahvash S Qureshi

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A Tie That Binds

Revisiting the Trilemma in Emerging Market Economies

By: Mr.Maurice Obstfeld,Mr.Jonathan David Ostry,MissMahvash S Qureshi

This paper examines the claim that exchange rate regimes are of little salience in the transmission of global financial conditions to domestic financial and macroeconomic conditions by focusing on a sample of about 40 emerging market countries over 1986–2013. Our findings show that exchange rate regimes do matter. Countries with fixed exchange rate regimes are more likely to experience financial vulnerabilities—faster domestic credit and house price growth, and increases in bank leverage—than those with relatively flexible regimes. The transmission of global financial shocks is likewise magnified under fixed exchange rate regimes relative to more flexible (though not necessarily fully flexible) regimes. We attribute this to both reduced monetary policy autonomy and a greater sensitivity of capital flows to changes in global conditions under fixed rate regimes.

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Publisher

International Monetary Fund

Published Date

ISBN 10

1484303946

ISBN 13

9781484303948

International Finance

Contemporary Issues

By: Maurice D. Levi

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International Finance

Contemporary Issues

By: Maurice D. Levi

In this updated fourth edition, author Maurice Levi successfully integrates both the micro and macro aspects of international finance. He sucessfully explores managerial issues and focuses on problems arising from financial trading relations between nations, whilst covering key topics such as: * organization of foreign exchange markets * determination of exchange rates * the fundamental principles of international finance * foreign exchange risk and exposure * fixed and flexible exchange rates. This impressive new edition builds and improves upon the popular style and structure of the original. With new data, improved pedagogy, and coverage of all of the main developments in international finance over the last few years, this book will prove essential reading for students of economics and business.

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Page Count

606

Publisher

Routledge

Published Date

ISBN 10

1134392958

ISBN 13

9781134392957

Foundations of International Macroeconomics

By: Maurice Obstfeld,Kenneth Rogoff

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Foundations of International Macroeconomics

By: Maurice Obstfeld,Kenneth Rogoff

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 as well 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. Topic coverage includes intertemporal consumption and investment theory, government spending and budget deficits, finance theory and asset pricing, the implications of (and problems inherent in) international capital market integration, growth, inflation and seignorage, policy credibility, real and nominal exchange rate determination, and many interesting special topics such as speculative attacks, target exchange rate zones, and parallels between immigration and capital mobility. Most main results are derived both for the small country and world economy cases. The first seven chapters cover models of the real economy, while the final three chapters incorporate the economy's monetary side, including an innovative approach to bridging the usual chasm between real and monetary models.

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Page Count

830

Publisher

MIT Press

Published Date

ISBN 10

0262150476

ISBN 13

9780262150477

Book's by Maurice Obstfeld

Advancing the Frontiers of Monetary Policy

Advancing the Frontiers of Monetary Policy

Meeting Globalization's Challenges

Meeting Globalization's Challenges

Covered Interest Parity Deviations: Macrofinancial Determinants

Covered Interest Parity Deviations: Macrofinancial Determinants

Global Capital Markets

Global Capital Markets

A Tie That Binds

A Tie That Binds

International Finance

International Finance

Foundations of International Macroeconomics

Foundations of International Macroeconomics

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