Professor Philip Lane


February 2014

Msc Macroeconomics: International Macroeconomics Module, Spring 2015

This is a graduate-level course in international macroeconomics. The textbook for the course is Maurice Obstfeld and Kenneth Rogoff, Foundations of International Macroeconomics, MIT Press, 1996 (Henceforth OR).

Building Blocks of Open-Economy Macroeconomics: Current Accounts, International Asset Trade, Real Exchange Rates

OR, Chapters 1,2, 4, 5.

Philip R. Lane and Gian Maria Milesi-Ferretti (2007), " The External Wealth of Nations Mark II," Journal of International Economics.

Philip R. Lane (2015), " Cross-Border Financial Linkages: Identifying and Measuring Vulnerabilities," CEPR Policy Insight No. 77.

Philip R. Lane (2012), " Financial Globalisation and the Crisis," Open Economies Review.

Robert E. Lucas, "Why Doesn't Capital Flow from Rich to Poor Countries?," American Economic Review 80, 92-96 , May 1990.

Kenneth French and James Poterba (1991), "Investor Diversification and International Equity Markets," American Economic Review 81, 222-226.

Balazs Egert (2010), " Catching-up and Inflation in Europe: Balassa-Samuelson, Engel's Law and Other Culprits," OECD Economics Department Working Papers 792.

Jeffrey Sachs (1982), "The Current Account in the Macroeconomic Adjustment Process," Scandinavian Journal of Economics.

Open-Economy Macroeconomic Models

OR, Chapters 7, 9, 10.

Maurice Obstfeld (2001), "International Macroeconomics: Beyond the Mundell-Fleming Model," International Monetary Fund Staff Papers 48, Special Issue 2001.

Kenneth Rogoff (2002), "Dornbusch's Overshooting Model After 25 years," International Monetary Fund Staff Papers 49, Special Issue 2002, 1-35.

Philip R. Lane (2001), "The New Open Economy Macroeconomics: A Survey," Journal of International Economics 54, 235-266, August 2001.

Giancarlo Corsetti (2007), "New Open Economy Macroeconomics," New Palgrave Dictionary of Economics.

Lecture Notes

BOP Accounting

International Capital Markets

Real Exchange Rates

Macroeconomic Models

New Open-Economy Macroeconomics