Introducing Valuation Effects-Based External Balance Analysis into the Undergraduate Macroeconomics Curricula: A Simple Framework with Applications

Autor/inn/en	Brust, Peter; Jayakumar, Vivekanand
Titel	Introducing Valuation Effects-Based External Balance Analysis into the Undergraduate Macroeconomics Curricula: A Simple Framework with Applications
Quelle	In: Journal of Economic Education, 43 (2012) 4, S.363-376 (14 Seiten)Infoseite zur Zeitschrift PDF als Volltext Verfügbarkeit
Sprache	englisch
Dokumenttyp	gedruckt; online; Zeitschriftenaufsatz
ISSN	0022-0485
DOI	10.1080/00220485.2012.714308
Schlagwörter	Economics Education; Macroeconomics; Undergraduate Study; Models; College Curriculum; Sustainability; Income; Economic Impact; Debt (Financial); Credit (Finance) + Suchen Sie Ihr Suchwort? Wirtschaftskunde; Makroökonomie; Grundstudium; Analogiemodell; Nachhaltigkeit; Einkommen; Ökonomische Determinanten; Credit; Kredit
Abstract	Global imbalances and the sustainability of large U.S. current account deficits have dominated international macroeconomics of late. Pedagogically, a clear disconnect exists between graduate-level open-economy macroeconomics that emphasizes intertemporal current account models and net foreign asset adjustment featuring valuation effects, and, undergraduate macroeconomics that is still driven by static analysis of U.S. current account deficits and cursory coverage of valuation-effects-driven external balance adjustment. The authors of this article discuss a simple intertemporal framework, based on modern open-economy macroeconomic models, that emphasizes the significance of valuation effects arising from changes in asset prices and exchange rates. The authors also highlight the relevance of the framework by examining a few topical applications related to prominent puzzles and debates in open-economy macroeconomics. (Contains 1 table and 2 figures.) (As Provided).
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Erfasst von	ERIC (Education Resources Information Center), Washington, DC
Update	2017/4/10