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Chapter 31. Open-Econony Macroeconomics: Basic concepts. Gregory Mankiw.
The International Flows of Goods and Capital
The Flow of Goods: Exports, Imports, and Net Exports
The Flow of Financial Resources: Net Capital Outflow
The Equality of Net Exports and Net Capital Outflow
Saving, Investment, and Their Relationship to the International Flows
Summing Up
The Prices for International Transactions: Real and Nominal Exchange Rates
Nominal Exchange Rates
Real Exchange Rates
A First Theory of Exchange-Rate Determination: Purchasing-Power Parity
The Basic Logic of Purchasing-Power Parity
Implications of Purchasing-Power Parity
Limitations of Purchasing-Power Parity
