Feenstra explores a wealth of material, such as the Ricardian and Heckscher-Ohlin models, extensions to many goods and factors, and the role of tariffs, quotas, and other trade policies. He examines imperfect competition, offshoring, political economy, multinationals, endogenous growth, the gravity equation, and the organization of the firm in international trade. Feenstra also includes a new chapter on monopolistic competition with heterogeneous firms, with many applications of that model. In addition to known results, the book looks at some particularly important unpublished results by various authors. Two appendices draw on index numbers and discrete choice models to describe methods applicable to research problems in international trade.
Completely revised with the latest developments and brand-new materials, Advanced International Trade is a classic textbook that will be used widely by students and practitioners of economics for a long time to come.Updated second edition of the essential graduate textbookCurrent approaches and a new chapter on monopolistic competition with heterogeneous firmsSupplementary materials in each chapterTheoretical and empirical exercisesTwo appendices describe methods for international trade research
• Offshoring of goods and services (Chapter 6)
• Tariffs and quotas under imperfect competition (Chapter 9)
• International agreements on trade, labor, and the environment (Chapter 11)
As well as core topics:
• The Ricardian model (Chapter 2)
• The specific-factors model (Chapter 3)
• The Heckscher-Ohlin model (Chapter 4)
• Trade with increasing returns to scale and imperfect competition (Chapter 6)
• Import tariffs and quotas under perfect competition (Chapter 8)
• Export subsidies (Chapter 10)
• The gains from financial globalization (Chapter 6)
• Fixed versus floating regimes (Chapter 8)
• Exchange-rate crises (Chapter 9
• The Euro (Chapter 10)
As well as core topics:
• Foreign exchange markets and exchange rates in the short run and the long run (Chapters 2–4)
• The national and international accounts (Chapter 5)
• The open economy IS-LM model (Chapter 7)
• Applied topics of current interest (Chapter 11)
The volume concludes that some policies can act to both protect imports and promote exports, that the threat of protectionist policies can often have effects that are as pronounced as their implementation, and that regulatory policy has as great an impact on trade and investment patterns as does trade policy itself. It will be of crucial interest to international trade economists, policy specialists, and political scientists.
A MODERN APPROACH FOR THE 21ST CENTURY
International economics texts traditionally place greater emphasis on theory and a strong focus on the advanced countries. Feenstra/Taylor links theory to empirical evidence throughout the book, and incorporates coverage of emerging markets and developing economies (India, China, SE Asia) to reflect the evolving realities of the global economy. The new edition has been extensively revised and updated, especially in light of the ongoing world financial crisis.
NOTE: Feenstra/Taylor, International Economics, Second Edition, is available in four versions:
International Economics, 2e: 1-4292-3118-1
International Trade, 2e: 1-4292-4104-7
International Macroeconomics, 2e: 1-4292-4103-9
Essentials of International Economics, 2e: 1-4292-7710-5
Prompted by these questions, Robert C. Feenstra and Alan M. Taylor have brought together top researchers with policy makers and practitioners whose contributions consider the ways in which the global economic order might address the challenges of globalization that have arisen over the last two decades and that have been intensified by the recent crisis. Chapters in this volume consider the critical linkages between issues, including exchange rates, global imbalances, and financial regulation, and plumb the political and economic outcomes of past policies for what they might tell us about the future of the global economic cooperation.
Bringing together an expert group of contributors, China's Growing Role in World Trade undertakes an empirical investigation of the effects of China's new status. The essays collected here provide detailed analyses of the microstructure of trade, the macroeconomic implications, sector-level issues, and foreign direct investment. This volume's careful examination of micro data in light of established economic theories clarifies a number of misconceptions, disproves some conventional wisdom, and documents data patterns that enhance our understanding of China's trade and what it may mean to the rest of the world.
This collection brings together innovative new ideas and data sources in order to provide more satisfying alternatives to the trade versus technology debate and to assess directly the specific impact of international trade on U.S. wages. This timely volume offers a thorough appraisal of the wage distribution predicament, examining the continued effects of technology and globalization on the labor market.
In Trade Policies for International Competitiveness, Robert C. Feenstra collects seven papers from the conference, each accompanied by discussants' comments, and adds a helpful introduction. Some of the issues considered by contributors are effects of macroeconomic and strategic foreign policies on competitiveness; the recent influx of foreign direct investment in the United States, primarily from Japan; the extent to which Japanese trade patterns are a reflection of underlying factor and endowments rather than trade barriers; and the market structure of Canadian industries, including applications for ongoing U.S.-Canadian free trade negotiations. Topical and provocative, these papers will be of value to economists, policymakers, and those in the business world.
Scanner Data and Price Indexes assesses both the promise and the challenges of using scanner data to produce economic statistics. Three papers present the results of work in progress at statistical agencies in the U.S., United Kingdom, and Canada, including a project at the U.S. Bureau of Labor Statistics to investigate the feasibility of incorporating scanner data into the monthly Consumer Price Index. Other papers demonstrate the enormous potential of using scanner data to test economic theories and estimate the parameters of economic models, and provide solutions for some of the problems that arise when using scanner data, such as dealing with missing data.