North}}}South Linkages and International Macroeconomic Policy [Hardcover]

This book provides a useful overview of the flourishing research area relating to interactions between North and South.This volume brings together theoretical and empirical papers on fiscal, monetary and trade linkages between the North and South. The papers examine the use of the major macroeconomic models to simulate global and inter-regional interactions, and also explore the elasticities debate, relative price determination, convergence, and LDCs adjustment to external shocks.This volume brings together theoretical and empirical papers on fiscal, monetary and trade linkages between the North and South. The papers examine the use of the major macroeconomic models to simulate global and inter-regional interactions, and also explore the elasticities debate, relative price determination, convergence, and LDCs adjustment to external shocks.Recent years have witnessed substantial progress in global macroeconomic modeling as researchers have applied techniques developed to analyze North-South interactions. This volume, derived from a CEPR conference held in Oxford in April, 1993, brings together theoretical and empirical papers on fiscal, monetary and trade linkages. They consider recent progress in the elasticities debate, the determination of relative prices, convergence and new growth theory, and LDCs' adjustment of external shocks. The volume also includes papers reporting a variety of simulations of global and inter-regional interactions using the major current macroeconomic models.List of figures; List of tables; Preface; List of conference participants; 1. North-South linkages and international macroeconomic policy: an overview David Vines and David Currie; Part I. Trade Linkages: The Elasticities Debate: 2. NIE export performance revisited: the estimation of export demand elasticities, and the role of product differentiation and growth Vito Antonio Muscatelli; 3. Export growth and the terms of trade: the case of the curious elasticities James Riedel aló[