Front Cover -- Macroeconomic Analysis and International Finance -- Copyright Page -- Contents -- List of Contributors -- Editorial Advisory Board Members -- Guest Editorial: An Overview of the Special Volume on Macroeconomic Analysis and International Finance -- Introduction -- What Explains House Price Booms? History and Empirical Evidence -- Introduction -- The Issues -- Historical Narrative -- The 1920s -- Post-World War II -- Asset Booms in the United Kingdom -- Nordic Asset Booms in the 1980s -- Japan in the 1980s -- House Price Booms of the 1990s and 2000s -- Summary of Historical Narrative -- Identifying House Price Booms -- Housing Booms -- Empirical Analysis -- Real House Prices -- Summary of Empirical Analysis -- Robustness Checks and the Role of Bank Credit -- An Alternative Specification for the PVAR -- An Alternative Ordering in the PVAR -- Other House Price Booms of the 1990s and 2000s -- Discussion and Conclusion -- Acknowledgment -- References -- Appendix: Data sources -- Economic Growth and Inequality: Evidence from the Young Democracies of South America -- Introduction and Motivation -- Empirical Analysis -- A Look at the Data -- Empirical Strategy -- Results and Discussion -- Final Observations -- Acknowledgments -- References -- Appendix -- Operational Currency Exposure and Firm Level Performance: Evidence from India -- Introduction -- Data -- Measuring "Operational" Currency Exposure -- Industry-Wise Exposure Elasticity -- Operational Exposure Elasticity and Exchange Rate Regime -- Determinants of Firm Level Exposure -- Openness and Delta -- "Operational" Exchange Rate Exposure and Firm Level Performance -- Output Growth And Exposure -- "Large"-Sized Exposure -- Profitability and Exposure -- Capital Expenditure and Exposure Elasticity -- Conclusion -- Acknowledgments -- References -- Appendix.

Exchange Rates, Fundamentals, and Nonlinearities: A Review and Some Further Evidence from a Century of Data -- Introduction -- A Review of the Literature -- The Monetary Model and Nonlinear Characteristics of Fundamentals -- Econometric Methodology -- Johansen Multivariate Cointegration Technique -- The Markov Switching-Vector Error Correction Model -- Data and Empirical Results -- Summary and Concluding Remarks -- Acknowledgments -- References -- A Dynamic Gravity Model for Global Bilateral Investment Holdings -- Introduction -- The Data and Motivation -- Bilateral Investment Decision and State Dependence -- Empirical Strategy -- Econometric Methodology -- Empirical Analysis -- Static Random Effects Models of Bilateral Investment Holdings -- Dynamic Random Effects Models of Bilateral Investment Holdings -- Conclusions -- References -- Appendix A: Countries -- Appendix B: Description of control variables -- Appendix C: Descriptive statistics of control variables -- Does China's International Competitiveness Fluctuate in Consistency with PPP Equilibrium? -- Introduction -- China's Exchange Rate Policy and Global Imbalances -- Econometric Methodology -- Two-Regime TAR Model -- Testing for the Linearity Hypothesis -- Testing for the Unit Root Hypothesis -- Data and Preliminary Empirical Results -- Evidence from Linear Unit Root Tests -- Testing the Linearity Hypothesis -- Estimated TAR Unit Root Tests -- Real Exchange Rate of Yuan Against the U.S. Dollar -- Real Exchange Rate of Yuan-The Japanese Yen -- Summary and Concluding Remarks -- Acknowledgments -- References -- Linkages between the Eurozone and the South-Eastern European Countries: A VECMX* Analysis -- Introduction -- Country-Specific Models -- Data and Model Specification -- Country-Specific Cointegration Models -- Generalized Impulse Response Functions -- Concluding Remarks -- References.

Predicting Economic Activity with Financial Market Data in a Small Open Economy: Revisiting Stylized Facts During Economic Turbulence -- Introduction -- The Model Setup and Data -- Forecasting Models -- Data -- Empirical Analysis -- In-Sample Analysis -- Out-of-Sample Forecasting Results -- Analysis of the Forecasting Results -- Conclusions -- References -- What Drives the Bank-Firm Relationship? A Case Study of the Polish Credit Market -- Introduction -- Literature Review -- The Lender-Borrower Relationship: Definitions -- Sources of Information about Relationship Banking -- Determinants of the Number of Relationships with Banks -- The Number of Bank-Firm Relationships in Poland: A Descriptive Analysis -- Bank-Firm Relationships in Poland: Basic Information -- Panel Data Analysis -- Research Method and Data Set -- Main Hypothesis -- Estimation Results Based on Panel Data -- Conclusion -- Acknowledgment -- References -- Appendix: Breakdown of Relationships with Banks and Estimation Results.