International Finance

Syllabus

First Part

• Introduction 

  • Krugman, Obstfeld, y Melitz (2022) Ch. 1

  • Eun, Resnick, and Chuluun (2024), Ch. 1

  • Melvin and Norbin (2022), Ch. 1-2

• Exchange Rates and the International Markets

  • Krugman, Obstfeld, y Melitz (2022) Ch. 3 and 4

  • Eun, Resnick, and Chuluun (2024), Ch. 5

  • Bekeart y Hodrick (2017), Ch. 2

  • Burstein y Gopinath (2014) “International Prices and Exchange Rates.” In Handbook of International Economics, Volume 4, 391-451

  • Gopinath y Itskhoki (2022) “Dominant Currency Paradigm: a review”, In Handbook of International Economics, Volume 6, 45-90

  • Lustig, Roussanov, y Verdelhan (2011), “Common risk factors in currency markets”, The Review of Financial Studies, 24(11)

  • Chaboud, Rime, and Sushko (2023) "The foreign exchange market," In Research In Handbook of Financial Markets, pages 253-275

• Balance of Payments and the International Accounts

  • Krugman, Obstfeld, y Melitz (2022) Ch. 2

  • Eun, Resnick, and Chuluun (2024), Ch. 3

  • Bekeart y Hodrick (2017), Ch. 4

  • Gourinchas y Rey (2007) “International Financial Adjustment.” Journal of Political Economy, 115(4), 665-703

  • Gourinchas, Rey, y Sauzet (2019) “The International Monetary and Financial System”, Annual Reviews of Economics, 11, 859-893

Second Part

• International Parity and Forecasting the Exchange Rates: 

  • Krugman, Obstfeld, y Melitz (2022) Ch. 5

  • Eun, Resnick, and Chuluun (2024), Ch. 6

  • Bekeart y Hodrick (2017), Ch. 6-8, 9

  • Melvin and Norbin (2022), Ch. 6-8

  • Engel (2014) “Exchange Rates and Interest Parity.” In Handbook of International Economics, Volume 4, 453-522

  • Du and Schreger (2022) “CIP deviations, the dollar, and frictions in international capital markets”, In Handbook of International Economics, Volume 6, 147-197

  • Hyndman and Athanasopoulos (2021) “Forecasting: Principles and Practice”, Cap. 3, 5, y 9.

  • Cheung et al. (2019) "Exchange rate prediction redux: New models, new data, new currencies."  Journal of International Money and Finance, 95, 332-362.

  • Engel and Wu (2023), “Forecasting the U.S. Dollar in the 21st Century”, Journal of International Economics, 141, 103715

• Capital Flows and the International Assets: 

  • Krugman, Obstfeld, y Melitz (2022) Ch. 9

  • Eun, Resnick, and Chuluun (2024), Ch. 11-13,15

  • Bekeart and Hodrick (2017), Ch. 11-13

  • Forbes and Warnock (2012), “Capital Flow Waves: Surges, Stops, Flight, y Retrenchment”, Journal of International Finance, 88, 235-251

  • Maggiori, Neiman, and Schereger (2020), “International Currencies and Capital Allocation”, Journal of Political Economy, 128 (6), 2019-2066.

  • Coppola, Maggiori, Neiman, y Schreger (2021), “Redrawing the Map of Global Capital Flows: The Role of Cross-Border Financing and Tax Heavens”, The Quarterly Journal of Economics, 136 (3), 1499-1556.

  • Gourinchas y Rey (2014) “External Adjustment, Global Imbalances, Valuation Effects.” In Handbook of International Economics, Volume 4, 585-645

  • Miranda-Aggripino y Rey (2022) “The Global Financial Cycle”, In Handbook of International Economics, Volume 6, 1-43

Third Part

• Options, Swaps, and Hedging

  • Eun, Resnick, and Chuluun (2024), Ch. 7-10

  • Bekeart y Hodrick (2017), Ch. 20-21

  • Melvin and Norbin (2022), Ch. 4

  • Ranaldo (2023) “Foreign exchange swaps and cross-currency swaps”, In Research In Handbook of Financial Markets, 451-469

  • Gürkaynak y Wright (2023) “Futures and Options”, In Research In Handbook of Financial Markets, 490-508

• Macroeconomic Policy,  Coordination, and Macroprudential Policies

  • Krugman, Obstfeld, y Melitz (2022) Ch. 6-7

  • Feenstra and Taylor (2021) Ch.3, 8-9

  • Claessens (2015), “An Overview of Macroprudential Policy Tools”, Annual Review of Financial Economics, 7, 397-422.

  • Forbes (2019), “Macroprudential Policy: What We've Learned, Don't Know, and Need to Do”, AEA papers and proceedings, 109, 470-475

  • Forbes (2021), “The International Aspects of Macroprudential Policy”, Annual Review of Financial Economics, 13, 203-228.

  • Blanchard (2017), “Currency Wars, Coordination, and Capital Controls”, International Journal of Central Banking, International Journal of Central Banking, vol. 13(2), 283-308

• FDI and M&A

  • Eun, Resnick, and Chuluun (2024), Ch. 16

  • Bekeart y Hodrick (2017), Ch. 14

  • Melvin and Norbin (2022), Ch. 11