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最終更新日:2022年4月21日

International Finance II

International Finance II (Economic Crisis)
Understand objectives and effects of key policies related to economic crises from both theoretical and empirical perspectives. Economic crises can be classified to (1) currency crisis or BOP crisis, (2) sovereign debt crisis, and (3) financial crisis. Students are expected to become familiar with issues that are common, as well as specific to, each type of economic crises. The first two types can be called as macroeconomic crisis, but recently many countries have experienced financial and macroeconomic crises at the same time. Therefore, students are also expected to recognize structural issues on (4) finance-macro linkages in crises. Lastly, this course will cover recent policy discussions developed since the global financial crisis of 2008.
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時間割/共通科目コード
コース名
教員
学期
時限
291316-03
GEC-EC6314L3
International Finance II
植田 健一
A2
月曜4限、木曜4限
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教室
国際学術総合研究棟 演習室E
講義使用言語
英語
単位
2
実務経験のある教員による授業科目
NO
他学部履修
開講所属
経済学研究科
授業計画
Class 1. Introduction to the course Part A: Banking and sovereign debt crises Class 2. Bank-run and deposit insurance Class 3. TBTF and bank regulations; financial market run Class 4. Credit booms and busts Class 5. Sovereign debt crisis, strategic default, and SDRM Class 6. Twin and Triple crises Part B: Currency and BOP crises Class 7. Empirical facts on currency attacks and sudden stops Class 8. Introduction to the 1st generation models Class 9. Overview of the 2nd generation models Class 10. A two-good small-open economy (SOE) model of a sudden stop Class 11. A two-good SOE model with a collateral constraint Class 12. Pecuniary externality and policy intervention Class 13. Final exam
授業の方法
Lecture (discussions encouraged)
成績評価方法
Class participation and exams
教科書
No textbook
参考書
Claessens, Stijn, M. Ayhan Kose, Luc Laeven, and Fabian Valencia ed., 2014, Financial Crisis: Causes, Consequences, and Policy Response, IMF (Washington, D.C.) Carlos A. Vegh, 2013, Open Economy Macroeconomics in Developing Countries, MIT. Maurice Obstfeld and Ken Rogoff 1996, Foundation of International Macroconomics, MIT. Martin Uribe and Stephanie Schmitt-Grohé, 2017, Open Economy Macroeconomics, Princeton University Press.
履修上の注意
Basic understanding of micro and macroeconomics as well as statistical methods / econometrics are necessary. A prerequisite is Macroeconomics for Public Policy (or its equivalent). Strongly recommended to have taken or to take International Financial Policy.