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Online Instructor’s Manual to accompany International Economics: Theory and Policy Tenth Edition Paul R. Krugman Princeton University Maurice Obstfeld University of California, Berkeley Marc J. Melitz Harvard University Updated by Hisham Foad San Diego State University Authored by Linda Goldberg Federal Reserve Bank of New York Michael Klein Tufts University Jay Shambaugh Dartmouth College Acquisitions Editor: Christina Masturzo Workflow Program Manager: Carolyn Philips Workflow Project Manager: Carla Thompson The views presented in this instructor's manual are those of the authors and need not reflect the views of the Federal Reserve Bank of New York or the Federal Reserve System. Copyright © 2015, 2012, 2009 Pearson Education, Inc. All rights reserved. Manufactured in the United States of America. This publication is protected by copyright, and permission should be obtained from the publisher prior to any prohibited reproduction, storage in a retrieval system, or transmission in any form or by any means, electronic, mechanical, photocopying, recording, or likewise. To obtain permission(s) to use material from this work, please submit a written request to Pearson Education, Inc., Permissions Department, One Lake Street, Upper Saddle River, New Jersey 07458, or you may fax your request to 201-236-3290. Many of the designations by manufacturers and seller to distinguish their products are claimed as trademarks. Where those designations appear in this book, and the publisher was aware of a trademark claim, the designations have been printed in initial caps or all caps. www.pearsonhighered.com ISBN-13: 978-0-13-342579-6 ISBN-10: 0-13-342579-7 Full file at http://textbooktestbank.eu/International-Finance-Theory-and-Policy-10th-Edition-Solutions-Krugman Contents Chapter 1 Introduction ..............................................................................................................1 Chapter 2 World Trade: An Overview ......................................................................................3 Chapter 3 Labor Productivity and Comparative Advantage: The Ricardian Model .................7 Chapter 4 Specific Factors and Income Distribution ..............................................................13 Chapter 5 Resources and Trade: The Heckscher-Ohlin Model ..............................................21 Chapter 6 The Standard Trade Model .....................................................................................27 Chapter 7 External Economies of Scale and the International Location of Production ..........33 Chapter 8 Firms in the Global Economy: Export Decisions, Outsourcing, and Multinational Enterprises ................................................................................39 Chapter 9 The Instruments of Trade Policy ............................................................................45 Chapter 10 The Political Economy of Trade Policy .................................................................53 Chapter 11 Trade Policy in Developing Countries ...................................................................59 Chapter 12 Controversies in Trade Policy ................................................................................63 Chapter 13 (2)* National Income Accounting and the Balance of Payments ..................................69 Chapter 14 (3) Exchange Rates and the Foreign Exchange Market: An Asset Approach .............75 Chapter 15 (4) Money, Interest Rates, and Exchange Rates ..........................................................83 Chapter 16 (5) Price Levels and the Exchange Rate in the Long Run ...........................................91 Chapter 17 (6) Output and the Exchange Rate in the Short Run ....................................................97 Chapter 18 (7) Fixed Exchange Rates and Foreign Exchange Intervention .................................107 Chapter 19 (8) International Monetary Systems: An Historical Overview ..................................117 Chapter 20 (9) Financial Globalization: Opportunity and Crisis ..................................................127 Chapter 21 (10) Optimum Currency Areas and the Euro ...............................................................133 Chapter 22 (11) Developing Countries: Growth, Crisis, and Reform ............................................141 * International Economics Chapters 13-22 are renumbered for International Finance as Chapters 2-11. © 2015 Pearson Education, Inc.