Tài liệu Open economy macroeconomics

Open economy macroeconomics
 is the study of economies in which international transactions play a significant role
–international considerations are especially important for open economies like the UK, Germany or the Netherlands
Domestic macroeconomic policy in such countries cannot ignore the influence of the rest of the world
–especially via the exchange rate.

Alternative exchange rate regimes
In a fixed exchange rate regime
–the national governments agree to maintain the convertibility of their currency at a fixed exchange rate.
In a flexible exchange rate regime
–the exchange rate is allowed to attain its free market equilibrium level without any government intervention using exchange reserves.