This is the fourth edition of a book that, after circulating in the form of l- ture notes at the universities of Rome (now La Sapienza University of Rome) and Siena in the late 1960s, was originally published in 1971 under the titleMat- maticalMethodsandModelsinEconomicDynamics. Inthosefortyoddyearstwo main developments have occurred in economic dynamics. The ?rst is the much greater amount of advanced mathematics that is being used today with respect to the past. The second is the increasing importance of non-linear modelling as contrastedwiththelinearapproach(which, however, hasnotgoneoutoffashion). This fourth edition re?ects both developments. It contains additional advanced mathematical tools, and a larger amount of non-linear mathematics and appli- tions. These developments are re?ected especially in Part III, that now accounts forwellover50%ofthebook. ItgoeswithoutsayingthatIhavemadeeverye?ort topreservetheuser-friendlyfeatureofthepreviouseditions: thespiritofthebook hasremainedthesame, namelytogiveacomprehensive, butsimple, treatmentof the mathematical methods commonly used in dynamical economics, and to show how they are applied to build and analyse economic models. Accordingly, the focus is on methods, and every mathematical technique - troduced is followed by its application to selected economic models that serve as examples. Theunifyingprincipleintheexpositionofthedi?erenteconomicm- els is then seen to be the common mathematical technique. This process will enable the readers not only to understand the basic literature, but also to build and analyse their own model

Modern economies become more and more open and the external sector of an economy becomes more and more important. This textbook aims at clarify ing how an open economy functions, in particular at explaining the determi nants of international fiows of commodities and financial assets. It also aims at examining the effects of these fiows on the domestic and international econ omy and the possible policy acti.ons at the national and international level. Particular attention will be paid to the problems of international economic at both the commercial and monetary level. integration Students will be able to read and interpret the balance of payments of a country, evaluating the various types of balance, to explain the behaviour of commercial fiows in the light of the theories studied, to analyze fiows of financial assets according to interest-rate differentials and other elements, to study the forces that determine exchange rates and cause currency crises, to understand the reasons behind international economic integration such as the European Union, to evaluate the effects of national and international policies."

In the present text the author deals with both conventional and new approaches to trade theory and policy, treating all important research topics in international economics and clarifying their mathematical intricacies. The textbook is intended for undergraduates, graduates and researchers alike. It addresses undergraduate students with extremely clear language and illustrations, making even the most complex trade models accessible. In the appendices, graduate students and researchers will find self-contained treatments in mathematical terms. The new edition has been thoroughly revised and updated to reflect the latest research on international trade.

This rigorous textbook tames technicalities and makes even the most complex models accessible to students. Its unique two-tier structure makes the book attractive for undergraduates, graduates and researchers alike. In fact, the coverage is primarily directed to undergraduate students and is mainly confined to graphic analysis and to some elementary algebra. Further, each chapter has its own mathematical appendix, in which (i) the topics treated in the text are examined at a level suitable for advanced undergraduates, graduates and researchers, and (ii) generalizations and/or topics not treated in the text (including some at the cutting edge of research) are formally examined. The new edition has been thoroughly revised and updated to reflect the latest research on international finance.This book deals with the financial side of international economics and covers all aspects of international finance. There are many books and articles by exponents of alternative points of view. I know of no other book that provides the scope, balance, objectivity and rigor of this book. the late Professor Jerome L. Stein, Brown University This book is a second edition of a volume on international finance first published in 2001. Like Giancarlo's other books in International Economics, this book is organised as a two-books-in-one by distributing the material between text and appendices. The text provides coverage suitable for an undergraduate course while the mathematical appendices provide coverage of the topics at the frontier of the discipline and suitable for advanced undergraduate or graduate students in an international finance and international macroeconomics course. This edition updates the earlier volume and covers all the classic topics as well as the more recent advances in the theory and modelling of international finance. It includes some discussion of the empirical testing of these theories and where appropriate reference to the extensive empirical literature is also provided. This book is a valuable addition to the bookshelf of any serious International Finance Scholar and provides a treasure chest of material for any quality international finance course. Professor Pasquale M Sgro, Deakin University Giancarlo Gandolfo is one of the profession's most gifted textbook authors on mathematical modeling and international economics. His revised International Finance and Open-Economy Macroeconomics is remarkable for its scope and clarity. The book covers the older and intertemporal approaches, and topics that are usually left out of graduate treatments (the chapter on balance-of-payments accounting is a gem). Gandolfo's two-tier approach of first developing topics with graphs and basic algebra and then providing rigorous mathematics for each topic makes the book ideal for advanced undergraduate and graduate classes. Professor Michael D. Goldberg, University of New Hampshire

This rigorous textbook tames technicalities and makes even the most complex models accessible to students. Its unique two-tier structure makes the book attractive for undergraduates, graduates and researchers alike. In fact, the coverage is primarily directed to undergraduate students and is mainly confined to graphic analysis and to some elementary algebra. Further, each chapter has its own mathematical appendix, in which (i) the topics treated in the text are examined at a level suitable for advanced undergraduates, graduates and researchers, and (ii) generalizations and/or topics not treated in the text (including some at the cutting edge of research) are formally examined. The new edition has been thoroughly revised and updated to reflect the latest research on international finance.This book deals with the financial side of international economics and covers all aspects of international finance. There are many books and articles by exponents of alternative points of view. I know of no other book that provides the scope, balance, objectivity and rigor of this book. the late Professor Jerome L. Stein, Brown University This book is a second edition of a volume on international finance first published in 2001. Like Giancarlo's other books in International Economics, this book is organised as a two-books-in-one by distributing the material between text and appendices. The text provides coverage suitable for an undergraduate course while the mathematical appendices provide coverage of the topics at the frontier of the discipline and suitable for advanced undergraduate or graduate students in an international finance and international macroeconomics course. This edition updates the earlier volume and covers all the classic topics as well as the more recent advances in the theory and modelling of international finance. It includes some discussion of the empirical testing of these theories and where appropriate reference to the extensive empirical literature is also provided. This book is a valuable addition to the bookshelf of any serious International Finance Scholar and provides a treasure chest of material for any quality international finance course. Professor Pasquale M Sgro, Deakin University Giancarlo Gandolfo is one of the profession's most gifted textbook authors on mathematical modeling and international economics. His revised International Finance and Open-Economy Macroeconomics is remarkable for its scope and clarity. The book covers the older and intertemporal approaches, and topics that are usually left out of graduate treatments (the chapter on balance-of-payments accounting is a gem). Gandolfo's two-tier approach of first developing topics with graphs and basic algebra and then providing rigorous mathematics for each topic makes the book ideal for advanced undergraduate and graduate classes. Professor Michael D. Goldberg, University of New Hampshire

First published in 1996, Dynamic Disequilibrium Modeling presents some surveys and developments in dynamic disequilibrium and continuous time econometric modeling along with related research from associated fields. Specific areas covered include applications in business cycles and growth, tests for nonlinearity, rationing and disequilibrium dynamics, and demographic and international applications. The contents of this volume comprise the proceedings of the ninth conference in The International Symposia in Economic Theory and Econometrics series under the general editorship of William Barnett. The proceedings volume includes the most important papers presented at a conference held at the University of Munich on August 31-September 4, 1993.

This is the fourth edition of a book that, after circulating in the form of l- ture notes at the universities of Rome (now La Sapienza University of Rome) and Siena in the late 1960s, was originally published in 1971 under the titleMat- maticalMethodsandModelsinEconomicDynamics. Inthosefortyoddyearstwo main developments have occurred in economic dynamics. The ?rst is the much greater amount of advanced mathematics that is being used today with respect to the past. The second is the increasing importance of non-linear modelling as contrastedwiththelinearapproach(which,however,hasnotgoneoutoffashion). This fourth edition re?ects both developments. It contains additional advanced mathematical tools, and a larger amount of non-linear mathematics and appli- tions. These developments are re?ected especially in Part III, that now accounts forwellover50%ofthebook. ItgoeswithoutsayingthatIhavemadeeverye?ort topreservetheuser-friendlyfeatureofthepreviouseditions: thespiritofthebook hasremainedthesame, namelytogiveacomprehensive, butsimple, treatmentof the mathematical methods commonly used in dynamical economics, and to show how they are applied to build and analyse economic models. Accordingly, the focus is on methods, and every mathematical technique - troduced is followed by its application to selected economic models that serve as examples. Theunifyingprincipleintheexpositionofthedi?erenteconomicm- els is then seen to be the common mathematical technique. This process will enable the readers not only to understand the basic literature, but also to build and analyse their own models.

First published in 1996, Dynamic Disequilibrium Modeling presents some surveys and developments in dynamic disequilibrium and continuous time econometric modeling along with related research from associated fields. Specific areas covered include applications in business cycles and growth, tests for nonlinearity, rationing and disequilibrium dynamics, and demographic and international applications. The contents of this volume comprise the proceedings of the ninth conference in The International Symposia in Economic Theory and Econometrics series under the general editorship of William Barnett. The proceedings volume includes the most important papers presented at a conference held at the University of Munich on August 31-September 4, 1993.

This second volume covers all the conventional topics of international monetary theory and open-economy macroeconomics, and a lot more besides. Gandolfo treats such further concepts as the theory of monetary integration and the European monetary union, foreign exchange crises and the Tobin tax, theory of games and international policy coordination.
It follows the "two-tier" structure of the first volume, and, thanks to its self-contained treatment, may equally be used as a reference book.

Alongside the traditional topics of international trade theory, this useful textbook integrates many topics usually omitted, and contains results of new research. It may be used at both undergraduate and graduate level, thanks to its unique "two-tier" structure: the text speaks directly to the undergraduate in extremly clear terms; while the appendices, which form the second tier, are addressed to graduate students and researchers. Each appendix is a self-contained treatment in mathematical terms of the topics examined in the text. The ample and balanced treatment of the various approaches and the clarity of exposition ensure that readers gain a thorough grasp of theories, facts and policies.

This is the fourth version of a model that five years ago we set out to build and estimate along the lines of the continuous time approach clarified In chapter 1. Previous versions appeared in journal articles and conference proceedings, where the space is notoriously limited. Therefore we welcome the possibility of publishing a book-length treatment of this fourth version, so that we can describe its theoretical and empirical aspects in some detail. Although we have worked closely together and accept joint responsibility for the whole book, chs. 1 and 2 and appendix I have been written by G. Gandolfo, whilst chs. ] and 4 and appendix II have been written by P.c. Padoan. Different parts of this version of the model have been discussed In various lectures at the European University Institute (Florence) in 1984, In a seminar organized by the Bank of Italy (Sadiba, Perugia, Italy, February 16-18, 1984), in the second Viennese Workshop on Economic Applications of Control Theory (Vienna, May 16-18, 1984), and in the sixth annual Conference of the Society for Economic Dynamics and Control (Nice, France, June 13-15, 1984). In all of these we received helpful comments; similarly helpful were the comments of Clifford R .. Wymer, who, however, is absolved of any responsibility.

Modern economies become more and more open and the external sector of an economy becomes more and more important. This textbook aims at clarify ing how an open economy functions, in particular at explaining the determi nants of international fiows of commodities and financial assets. It also aims at examining the effects of these fiows on the domestic and international econ omy and the possible policy acti.ons at the national and international level. Particular attention will be paid to the problems of international economic at both the commercial and monetary level. integration Students will be able to read and interpret the balance of payments of a country, evaluating the various types of balance, to explain the behaviour of commercial fiows in the light of the theories studied, to analyze fiows of financial assets according to interest-rate differentials and other elements, to study the forces that determine exchange rates and cause currency crises, to understand the reasons behind international economic integration such as the European Union, to evaluate the effects of national and international policies."