15.

012 Applied Macro and International Economics I

Claudia Steinwender

Additional readings

Economics text books

N. Gregory Mankiw, “Macroeconomics”, macmillan --- intermediate level

Andrew B. Abel, Ben S. Bernanke, Dean Croushore, “Macroeconmoics”, Pearson --- intermediate level

Paul Krugman, Robin Wells, “Economics”, worth publishers --- introductory level

David A. Moss, “A Concise Guide to Macroeconomics”, Harvard Business Review Press --- targeted at
business school students

Podcasts and blogs:

Trade related podcasts on current topics: https://piie.com/trade-talks

Blogs about current research papers on https://voxeu.org/

Blogs/podcasts involving current research: http://freakonomics.com/

Productivity and growth

Podcast http://freakonomics.com/podcast/no-new-ideas/ , featuring Prof. John van Reenen, MIT Sloan

Video of Bureau of Labor Statistics (BLS) on what is productivity:

https://www.youtube.com/watch?time_continue=1&v=mRxICdUYaCs

Slides of Bureau of Labor Statistics (BLS) on how to measure productivity:

https://www.bls.gov/k12/productivity-101/home.htm#how-is-productivity-measured/home

Acemoglu, Daron, and James A. Robinson, 2013, “Why Nations Fail: The Origins of Power, Prosperity,
and Poverty”, Currency.

Interview with Daron Acemoglu: http://thepolitic.org/an-interview-with-daron-acemoglu-mit-

economist/

Ufuk Akcigit, 2017, "Economic Growth: The Past, the Present, and the Future", Journal of Political
Economy, 125(6): 1736-47.

Layard, Richard, “Happiness”, Penguin Books.

Currency wars (Brazil case)

Laura Alfaro and Hilary White, “Currency Wars”, HBS Case 9-713-074. Can be purchased at
https://hbsp.harvard.edu/product/713074-PDF-ENG?itemFindingMethod=Search

International Monetary Fund policy paper, November 14, 2012, “The Liberalization and Management of
Capital Flows: An Institutional Perspective”. https://www.imf.org/external/np/pp/eng/2012/111412.pdf

Michael Klein (2012), “Capital Controls: Gates versus Walls,” Brookings Papers on Economic Activity, Fall
2012, including Kristin Forbes (2012) “Comments to M. Klein”: https://www.brookings.edu/wp-
content/uploads/2012/09/2012b_Klein.pdf

Trilemma: Obstfeld, Maurice; Shambaugh, Jay C.; Taylor, Alan M. (2005). "The Trilemma in History:
Tradeoffs Among Exchange Rates, Monetary Policies, and Capital Mobility". Review of Economics and
Statistics. 87 (3): 423–438.

Spillover Effects of Quantitative Easing: Talk by Dr Raghuram Rajan, Governor of the Reserve Bank of
India, at the IMF/Government of India Conference on "Advancing Asia: Investing for the Future", New
Delhi, 12 March 2016, https://www.bis.org/review/r160316a.htm

Balance of payments – Brazil/US CA deficit case

Ch. 5, “Saving and Investment in the Open Economy”. In Andrew B. Abel, Ben S. Bernanke, Dean
Croushore, “Macroeconomics”, Pearson

Trade deficits. Why the US Trade Deficit Can be a Sign of a Healthy Economy, HBR article (07/18),
https://hbr.org/2018/07/why-the-u-s-trade-deficit-can-be-a-sign-of-a-healthy-economy

Caroline Freund, “Public Comment on Trump Administration Report on Significant Trade Deficits”, May
2017, https://piie.com/blogs/trade-investment-policy-watch/public-comment-trump-administration-
report-significant-trade

Trade
Douglas A. Irwin, “The False Promise of Protectionism”, Foreign Affairs, May/June 2017.
https://www.foreignaffairs.com/articles/united-states/2017-04-17/false-promise-protectionism

Wendy Dobson, Julia Tory, and Daniel Trefler, “NAFTA Modernization: A Canadian Perspective”,
http://www-2.rotman.utoronto.ca/~dtrefler/papers/Dobson_Tory_Trefler_2017_Final.pdf

Trade Talks podcast, “It’s Fun to Discuss the USMCA – the New NAFTA”,
https://piie.com/experts/peterson-perspectives/trade-talks-episode-57-its-fun-discuss-usmca-new-
nafta

Irwin, Douglas A., “Free Trade Under Fire”, Princeton University Press
Brexit

LSE Brexit blog: https://blogs.lse.ac.uk/brexit/

Bloomberg Brexit website and newsletter: https://www.bloomberg.com/brexit

A variety of research studies on Brexit published by researchers of the Centre for Economic Performance
at LSE: http://cep.lse.ac.uk/BREXIT/

Trade Talks podcast, “Brexit Two Years on”, https://piie.com/experts/peterson-perspectives/trade-talks-

episode-44-brexit-two-years

Trade Talks podcast, “Brexit Votes for Uncertainty”, https://piie.com/experts/peterson-

perspectives/trade-talks-episode-68-brexit-votes-uncertainty

Trade Talks podcast, “The Other UK Trade Deals – Brexit and Rolling Over the EU’s FTAs”,
https://piie.com/experts/peterson-perspectives/trade-talks-episode-22-other-uk-trade-deals-brexit-
and-rolling-over

Trade Talks podcast, “What if the UK Crashed into a No-Deal Brexit?”,

https://piie.com/experts/peterson-perspectives/trade-talks-episode-10-what-if-uk-crashed-no-deal-
brexit

Chiles – central bank credibility

Chapter 14.5 “The Conduct of Monetary Policy: Rules Versus Discretion”, pp 564-573. In Andrew B. Abel,
Ben S. Bernanke, Dean Croushore, “Macroeconomics”, Pearson

Zambia/Africa

McKinsey, 2017, “Dance of the lions and dragons”

Tejvan Pettinger, 2017, “Washington Consensus – Definition and Criticism”, Economics Help (blog),
https://www.economicshelp.org/blog/7387/economics/washington-consensus-definition-and-criticism/

Miria Pigato and Wenxia Tang, “China and Africa: Expanding Econoic Ties in an Evolving Global Context,”
World Bank Working Paper 95161, March 2015.
http://documents.worldbank.org/curated/en/241321468024314010/pdf/95161-REPLACEMENT-FILE-
PUBLIC-China-FDI-Africa-conference-Final-1-May-2015-Final.pdf

Michael Kremer and Seema Jayachandran, “Odious Debt: When Dictators Borrow, Who Repays the
Loan?”, The Brookings Institute, March 1, 2003, https://www.brookings.edu/articles/odious-debt-when-
dictators-borrow-who-repays-the-loan/

Podcasts, The Chinafrica Project: https://chinaafricaproject.com/

Inequality

Helpman, Elhanan, 2018. “Globalization and Inequality”, Harvard University Press.

Piketty, Thomas, 2014, “Capital in the Twenty-First Century”, Harvard University Press

Deaton, Angus, 2013. “The Great Escape: Health, Wealth, and the Origins of Inequality”, Princeton
University Press

Goldin, Claudia and Lawrence F. Katz, 2008, “The race between education and technology” Harvard
University Press

Lawrence, Robert Z., and Lawrence Edwards. 2013. US Employment Deindustrialization: Insights from
History and the International Experience. PIIE Policy Brief 13-27. Washington: Peterson Institute for
International Economics.
Hicks, Michael, and Srikant Devaraj. 2017. The Myth and Reality of Manufacturing in America. Ball State
University, Center for Business and Economic Research.

Stevenson, Wolfers, 2008, “Happiness Inequality in the United States”, NBER Working Paper 14220
Davide Furceri and Prakash Loungani, 2015, “Capital Account Liberalization and Inequality”, IMF
Working Paper 15/243

Giovanni Peri, 2016, “Immigrants, Productivity, and Labor Markets”, Journal of Economic Perspectives

Piketty, Saez, Zucman, 2018, “Distributional National Accounts: Methods and Estimates for the United
States”, Quarterly Journal of Economics

Acemoglu, Restrepo, 2018, “Robots and Jobs: Evidence from US Labor Markets”

OECD, “What’s your share of the pie?”, find out in 10 clicks to which part of the income distribution you
belong: http://www.oecd.org/social/income-distribution-database.htm