From the Back Cover
captures the vitality of modern international trade and finance. A classic book by world-renowned authors, the Seventh Edition is comprehensively revised and updated in a new, full-color format. Each half of the book contains a core of theory chapters followed by chapters applying the theory to major policy questions of the past and present.
- Core theory chapters, followed by chapters that apply theory to major policy questions.
- Integrated treatment and empirical evidence of the latest models of trade, including the Gravity, Ricardian, specific factors, factor endowments, and imperfect competition models.
- Thorough discussion of the causes and effects of trade policy, focusing on the income-distribution effects of trade.
- Clear presentation of a unified model of open-economy macroeconomics based on an asset-market approach to exchange rate determination with a central role for expectations.