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International Macro-Economics and Political & Economic Integration in Europe


International Macroeconomics has been a major research theme of the IIIS research program. Overall, International Macroeconomics allows us to understand how the world economy works as a whole and how country specific aggregate (such as unemployment, investments, exchange rate, inflation, etc.) are affected.

The contours of the area
The main focal points for this research include the measurement of cross-border financial holdings; the role of international valuation effects in the external adjustment process; the analysis of European monetary union; and the impact of globalisation on Irish macroeconomic policies; fiscal policy in EMU; International trade and competitiveness.

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Flagship Leaders

Staff: 4 members directly involved in the area
Philip Lane: research interests include financial globalisation, macroeconomics of exchange rates and capital flows, macroeconomic policy design, European Monetary Union, and the Irish economy
Vahagn Galstyan: research interests include theory and empirics of real exchange rate, international trade and competitiveness, macroeconomic policy
Michael Wycherley: research interests include international macroeconomics, finance and development
Agustin Benetrix: research interests include international financial linkages, fiscal policy in open economies, economic history and the Irish Economy

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External Research associates: The list of external associates that are involved in the field includes such high profile names as Alan Ahearne, Ron Davis, Mick Devereux, Kevin O'Rourke, Jay Shambaugh and Frank Warnock

Research students: out of 19 research students in Economics, 6 do themes in international macro
Silvia Calo: relationship between budget deficits and regulation
Michael Curran: empirical problems in international macroeconomics, on examining theoretical models within this field and on applying and developing econometric tools as a by-product of this application.
Christian Dunne: information shocks and their impact on exchange rate movements, current account imbalances, and household portfolios.
Gabriel Fagan: the effects of sudden stop on macroeconomic aggregates
Shasha Li: the Impact of Financial Crisis on Economic Growth and Inequality
Adnan Velic: empirics of real exchange rate dynamics.

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Future Direction

Impact and visibility within and beyond college
More than 30 percent of over 400 IIIS discussion papers are related to international macroeconomics. Furthermore, many of the papers have been published in high profile academic journals and have received considerable attention from international policy institution such as the IMF, ECB and the EU Commission.

It is important to note that the research by its nature is interdisciplinary. For example Political Scientists have interests around EU level policy and governance.

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Last updated 6 November 2012 by IIIS (Email).