Papers by Leonel Pariapaza Panihuara
Much of the material contained in the present book overlaps with that found in two other (excelle... more Much of the material contained in the present book overlaps with that found in two other (excellent) books on monetary theory published in recent years: Carl Walsh's Monetary Theory and Policy (MIT Press, 3rd ed.) and Michael Woodford's Interest and Prices (Princeton University Press). The focus of the present book on the New Keynesian model, with the use of a single underlying framework throughout the chapters, represents the main difference from Walsh's, with the latter providing in many respects a more comprehensive, textbook-like, coverage of the field of monetary theory, with a variety of models being used. On the other hand, the main difference from Woodford's comprehensive treatise lies in the more compact presentation of the basic New Keynesian model and its implications for monetary policy found here, which may facilitate its use as a textbook in an introductory graduate course. In addition, the present book contains an analysis of unemployment and of open economy extensions of the basic New Keynesian model, which are topics not covered in Woodford's book. Many people have contributed to this book in important ways. First and foremost, I am in special debt with Rich Clarida, Mark Gertler, and Tommaso Monacelli, with whom I coauthored the original articles underlying much of the material found in this book, in particular that in chapters 5 and 8. I am also especially thankful to Olivier Blanchard who, as a teacher and thesis advisor at MIT, made me discover the fascination of modern macroeconomics. Working with him as a coauthor in recent years has helped me sharpen my understanding of many of the issues dealt with here. My interest in monetary theory was triggered by a course taught by Mike Woodford at MIT in the fall of 1988. His work in monetary economics (and in anything else) has always been a source of inspiration. Many other colleagues have helped me improve the present monograph either with specific comments on earlier versions of the chapters or through discussions over the years on some of the topics covered here.
A book like this would not be possible without the assistance of many people, indeed, without a c... more A book like this would not be possible without the assistance of many people, indeed, without a career full of teachers and colleagues who have shaped the field and my own views of it. I am fortunate to have had many of these who were all generous with their time and insights. As an undergraduate at the University of British Columbia, I first learned international trade from the original edition of Richard Caves and Ronald Jones, World Trade and Payments (Little, Brown, 1973), and then from the "dual" point of view with Alan Woodland. His continuing influence will be clear in this book. I also took several graduate courses in duality theory from Erwin Diewert, and while it took longer for these ideas to affect my research, their impact has been quite profound. In 1977 I began my graduate work at MIT, where I learned international trade from Jagdish Bhagwati and T. N. Srinivasan, both leaders and collaborators in the field. These courses greatly expanded my knowledge of all aspects of international trade and stimulated me to become a trade economist. The book I have written probably does not do justice to the great breadth of research topics I learned there. These topics are well presented in the textbook by Jagdish Bhagwati, Arvind Panagariya and T. N. Srinivasan, Lectures in International Trade (MIT Press, 1998), to which the reader is referred. My own book does not aim to be a substitute for that important volume. In 1981, I joined Jagdish Bhagwati as a colleague at Columbia University, and for the next five years enjoyed the company of Ronald Findlay, Guillermo Calvo, Robert Mundell, Maury Obstfeld, Stanislaw Wellisz, and other regular attendees at the Wednesday afternoon international seminar. Richard Brecher was also a visitor at Columbia during this period. I am much indebted to these colleagues for the stimulating seminars and conversations. My early work in trade did not stray too far from the familiar twosector model, but in 1982 I was invited by Robert Baldwin to participate in a conference of the National Bureau of Economic Research (NBER) focusing on the empirical assessment of U.S. trade policies. For this conference I prepared a paper on the voluntary export restraint with Japan in automobiles, and thus my empirically oriented research in trade began. Following this, I participated in more conferences of the NBER, and since 1992 have directed the International Trade and Investment group there. These conferences have been enormously influential to my research. During the 1980s, there was a large amount of research on trade and trade policy under imperfect competition. Some of this was done for NBER This book is intended for a graduate course in international trade. I assume that all readers have completed graduate courses in microeconomics and econometrics. My goal is to bring the reader from that common point up to the most recent research in international trade, in both theory and empirical work. This is not intended to be a difficult book, and the mathematics used should be accessible to any graduate student. The material covered will give the reader the skills needed to understand the latest articles and working papers in the field. At the same time, I am aware that many readers will become teachers in the field, especially at the undergraduate level. I feel that it is suitable, then, to start most chapters by introducing simple graphical techniques that can be used in teaching. Following this, I move towards the equations for each model. A set of problems at the end of each chapter gives the reader some experience in manipulating these equations. An instructor's manual that accompanies this book provides solutions to the problems. 1 In addition, I have included empirical exercises that replicate the results in some chapters. Completing all of these could be the topic for a second course, but even in a first course there will be a payoff to trying some exercises. The data and programs for these can be found on my home page and also at the website www.internationaldata.org. 2 A word on notation. I consistently use subscripts to refer to goods or factors, whereas superscripts refer to consumers or countries. In general, then, subscripts refer to commodities and superscripts refer to agents. The index used (h, i, j, k, ᐉ, m, or n) will depend on the context. The symbol c is used for both costs and consumption, though in some chapters I instead use d(p) for consumption to avoid confusion. The output of firms is consistently denoted by y and exports are denoted by x. Uppercase letters are used in some cases to denote vectors or matrixes, and in other cases to denote the number of goods (N), factors (M), households (H), or countries (C), and sporadically elsewhere. The symbols ␣ and  are used generically for intercept and slope coefficients, including fixed and marginal labor costs. The contents of several chapters included here have been previously published. Chapters 4 and 5 are revisions from articles appearing in 1 Faculty wishing to obtain the instructor's manual should contact Princeton University Press. 2 The programs for the empirical exercises are provided in STATA. Readers not familiar with STATA are encouraged to complete the web course developed by James Levinsohn and available at www.psc.isr.umich.edu/saproject.
www.fondoeditorial.pucp.edu.pe Diseño, diagramación, corrección de estilo y cuidado de la edición... more www.fondoeditorial.pucp.edu.pe Diseño, diagramación, corrección de estilo y cuidado de la edición: Fondo Editorial PUCP SEXTA SECCIÓN. LA MACROECONOMÍA NEOKEYNESIANA Capítulo 14. La macroeconomía neokeynesiana de una economía cerrada: el modelo IS-MPR-DA-OA Introducción El modelo IS-MPR-DA-OA La demanda agregada El mercado de bienes La regla de política monetaria La demanda agregada La oferta agregada La demanda y la oferta agregada El modelo general y los subsistemas El subsistema del corto plazo El subsistema de equilibrio estacionario El subsistema del tránsito hacia el equilibrio estacionario El subsistema con expectativas racionales Política monetaria y política fiscal en el modelo IS-MPR-DA-OA Política monetaria expansiva Política fiscal expansiva Ejercicios propuestos Términos clave Capítulo 15. La macroeconomía neokeynesiana de una economía abierta: el modelo IS-MPR-UIP-DA-OA Introducción El modelo IS-MPR-UIP-DA-OA La demanda agregada El mercado de bienes La paridad de tasas de interés El mercado de bienes y la paridad de tasas de interés: la IS y la UIP La regla de política monetaria La demanda agregada La oferta agregada La demanda y la oferta agregada El modelo general y los subsistemas El subsistema de corto plazo El subsistema de equilibrio estacionario El subsistema del tránsito hacia el equilibrio estacionario El subsistema con expectativas racionales Política monetaria, política fiscal y choque externo en el modelo IS-MPR-UIP-DA-OA Política monetaria expansiva Política fiscal expansiva Alza de la tasa de interés internacional Ejercicios propuestos Términos clave SÉPTIMA SECCIÓN. LA MACROECONOMÍA DE AMÉRICA LATINA Y EL CARIBE Capítulo 16. La Macroeconomía de América Latina y el Caribe con movilidad perfecta de capitales y tipo de cambio flotante Introducción El subsistema del corto plazo La demanda agregada La oferta agregada La demanda y la oferta agregada El subsistema del equilibrio estacionario Cuadros Cuadro 2.1. Descomposición de la varianza del PBI real Cuadro 3.1. Reglas fiscales en América Latina Cuadro 4.1. Gobierno y crédito de los bancos centrales de América Latina antes de la reforma de la década de 1990 Cuadro 4.2. Gobierno y crédito de los bancos centrales de América Latina en 2003 Cuadro 4.3. Metas de inflación (variación porcentual a fin de periodo, IPC de Lima) Gráfico 2.22. América Latina y el Caribe: precios de principales productos de exportación (índice, 2012T1=100) Gráfico 2.23. América Latina y el Caribe: precios del petróleo (US$ por barril) Gráfico 2.24. América Latina y el Caribe: ingreso neto de capitales privados (US$ miles de millones) Gráfico 2.25. América Latina y el Caribe: inversión (tasa de crecimiento anual) Gráfico 2.26. América Latina y el Caribe: exportaciones de bienes (tasa de crecimiento anual) Gráfico 2.27. América Latina y el Caribe: tasa de crecimiento del PBI Gráfico 2.28. América Latina y el Caribe: tasa de devaluación Gráfico 2.29. América Latina y el Caribe: tasa de inflación Gráfico 2.30. Perú: términos de intercambio (índice, 2001=100) Gráfico 2.31. Perú: PBI y términos de intercambio (tasa de crecimiento anual, promedio móvil de 3 años) Gráfico 2.32. Perú: ingreso neto de capitales (en US$ millones) Gráfico 2.33. Perú: inversión privada (tasa de crecimiento anual) Gráfico 2.34. Perú: PBI (tasa de crecimiento anual) Gráfico 2.35. Perú: descomposición histórica de las fluctuaciones del PBI real Gráfico 2.36. Perú: descomposición histórica de las fluctuaciones del PBI real considerando a China Gráfico 2.37. Perú: descomposición histórica de los factores externos Gráfico 2.38. Perú: descomposición histórica de los factores domésticos
David Romer Macroeconomía avanzada, 2006
Books by Leonel Pariapaza Panihuara
Finanzas Corporativas Jonathan Berk Peter DeMarzo
No se permite la reproducción total o parcial de este libro, ni su incorporación a un sistema inf... more No se permite la reproducción total o parcial de este libro, ni su incorporación a un sistema informático, ni su transmisión en cualquier forma o por cualquier medio, sea éste electrónico, mecánico, reprográfico, gramofónico u otro, sin el permiso previo y por escrito de los titulares del copyright.
Este libro fue publicado y distribuido exclusivamente por Pearson-Educación hasta agosto de 2012.... more Este libro fue publicado y distribuido exclusivamente por Pearson-Educación hasta agosto de 2012. Mientras preparo la segunda edición, he decidido poner este libro en la web.
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Papers by Leonel Pariapaza Panihuara
Books by Leonel Pariapaza Panihuara