Guillermo Calvo, who foresaw the financial crisis that followed the devaluation of Mexico's peso, has spent much of his career thinking beyond the conventional wisdom. In a quiet and understated way, Calvo has made seminal contributions to several major research areas in macroeconomics, particularly monetary policy, exchange rates, public debt, and stabilization in Latin America and post-communist countries. Money, Exchange Rates, and Output brings together these contributions in a broad selection of the author's work over the past two decades. There are introductions to each section, and an introduction to the entire collection that outlines the connections throughout and surveys the current state of macroeconomic theory. Calvo, an advocate of the "Chicago school" of rational expectations, uses elements of this approach to understand economic development. While he is a top macroeconomics theorist, his models are always intertwined with policy discussion. He pushes readers to combine knowledge of real world facts�of institutions, traditions, and culture, in addition to statistics - with theory. One focus of this collection is on the role of credibility in policy-making. Calvo analyzes the origins and macroeconomic consequences of credibility problems. He also shows how monetary and trade theory can fail when the public does not fully believe in policy announcements. A second focus is on equilibrium multiplicity. Calvo uses models with multiple equilibria to identify factors that cause anomalous behavior. He discusses multiple equilibria in abstract terms as well as in terms of its relevance to understanding domestic public debt. Specific issues covered are predetermined exchange rates, currency substitution, domestic public debt and seigniorage, and stabilizing transition economies.

About the Author

Guillermo A. Calvo is Professor of International and Public Affairs at Columbia University's School for International and Public Affairs. He is the author of Money, Exchange Rates, and Output, Emerging Capital Markets in Turmoil (both published by the MIT Press) and other books.

"About this title" may belong to another edition of this title.

Store Description

Better World Books (https://www.BetterWorldBooks.com) is a for-profit, socially conscious business and a global online bookseller that collects and sells new and used books online, matching each purchase with a book donation. Each sale generates funds for literacy and education initiatives in the U.S., the UK, and around the world. Since its launch in 2003, Better World Books has raised $33 million for libraries and literacy, donated over 32 million books, and reused or recycled more than 397 million books.

Visit Seller's Storefront

Seller's business information

Better World Books Marketplace, Inc.
55740 Currant Road, Mishawaka, IN, 46545, U.S.A.

Sale & Shipping Terms

Terms of Sale

Better World Books (BWB) values your satisfaction and offers you returns within thirty (30) days after the estimated delivery date on most items. All returned items must be in the original condition; used items should include the SKU sticker located on the spine or back of the product.

If you have an incomplete, incorrect, or damaged shipment, please contact our Customer Care team via Abebooks contact seller options before proceeding with the return.Please keep in mind that because we deal mostl...

More Information

Shipping Terms

Please allow 1-2 business days for order fulfillment.

Shipping rates within U.S.A.

Shipping rates within U.S.A.
Order quantity	4 to 8 business days	3 to 5 business days
First item	US$ 0.00	US$ 13.00

Delivery times are set by sellers and vary by carrier and location. Orders passing through Customs may face delays and buyers are responsible for any associated duties or fees. Sellers may contact you regarding additional charges to cover any increased costs to ship your items.