International Macroeconomic Stabilization Policy

International macroeconomics has been an area of intense research activity during the last two decades. Stephen J Turnovsky has made a central contribution to the area, his work spanning both theory and policy. This new volume, which presents a selection of his most significant work, is intended to develop analytical approaches and modeling strategies applicable to a variety of issues in international macroeconomics.

The book proceeds with the development of increasingly sophisticated analytical models, beginning with the Dornbusch sticky price/models. Professor Turnovsky goes on to consider more recent stochastic rational expectations models and those directed at deriving macroeconomic equilibrium relationships from optimising behavior. International macroeconomic policy issues, specifically exchange market intervention, strategic policy-making, and policy coordination, are also discussed.

Professor Turnovsky's theoretical rigor and the relevance of the work to much current research in economics make this book essential for a wide range of graduate students and professional economists.

Stephen J Turnovsky is a graduate of Harvard University and currently Professor of Economics at the University of Washington. He was previously a member of the faculties of the University of Pennsylvania, University of Toronto, Australian National University, and the University of Illinois at Urbana-Champaign. He is the author of Macroeconomic Analysis and Stabilization Policy and has written extensively ona wide variety of topics in macroeconomic theory and policy. From 1981 to 1987 he was Editor of the Journal of Economic Dynamics and Control. Professor Turnovsky has served on the editorial boards of the International Economic Review, and Journal of Money, Credit and Banking, and the Journal of Public Economics.