Richard N. Cooper

Richard N. Cooper is Maurits C. Boas Professor of International Economics at Harvard University.

  • What the Future Holds

    What the Future Holds

    Insights from Social Science

    Richard N. Cooper and Richard Layard

    Social scientists from various disciplines discuss and offer predictions about the future.

    Predicting the future is notoriously difficult. But systematic analysis leads to clearer understanding and wiser decisions. Thinking about the future also makes social scientists focus their research into the past and present more fruitfully, with more attention to key predictors of change.

    This book considers how we might think intelligently about the future. Taking different methodological approaches, well-known specialists forecast likely future developments and trends in human life. The questions they address include: How many humans will there be? Will there be enough energy? How will climate change affect our lives? What patterns of work will exist? How will government work at the local, national, and world level? Will inflation remain under control? Why have past forecasts been so bad? The book concludes with a discussion of the intellectual and historical context of futurology and a look at the accuracy of predictions that were made for the year 2000. Jed.

    • Hardcover $45.00 £38.00
    • Paperback $4.75 £3.99
  • Economic Stabilization and Debt in Developing Countries

    Economic Stabilization and Debt in Developing Countries

    Richard N. Cooper

    Drawing on preliminary results from a massive study conducted by the World Bank to probe the links between stabilization and growth, Cooper examines the experience of developing countries faced by the oil shocks of the 1970s and the debt crisis of the 1980s. He points out that a global slowdown in growth has shifted the main economic concern in developing countries from long-term growth to stabilization and adjustment. Cooper takes into account the cross-country variables that influence the degree to which a country is affected negatively or positively by external shocks and covers such topics as political organization and external debt resolution.

    The first chapter focuses on countries that experienced adverse shocks from the sharp increase in oil prices beginning in 1974. It also addresses countries that should have benefited from the oil price increase, and from a comparable increase in coffee prices, for which events turned out to be less favorable than they seemed. The second chapter analyzes the "disabsorption" a country faces when it can no longer rely on foreign lending or advantageous terms of trade; it also looks at inflationary pressures and at the role of the International Monetary Fund in designing stabilization programs for its member countries. The third chapter discusses the main influences on a country's economic performance and also discusses the lessons offered for successful stabilization and long-term growth. Moving from individual developing nations to the world economic system, the final two chapters examine the question of external debt and why it has proved to be such an international stumbling block, offering suggestions on how it might be resolved.

    • Hardcover $9.75 £7.99
  • The International Monetary System

    Essays in World Economics

    Richard N. Cooper

    These essays on the international monetary system continue Richard Cooper's investigation of world economics begun in his first volume, of collected essays, Economic Policy in an Interdependent World. Cooper evaluates the criticism that nations today have poor economic policies and proposes that a system of more sharply defined rules could impose constructive discipline on national economic policies. He discusses trade restrictions, exchange rate management, international payments, and the possibility of establishing a common currency for the industrial democracies.

    • Hardcover $32.50
    • Paperback $13.95
  • Economic Policy in an Interdependent World

    Economic Policy in an Interdependent World

    Richard N. Cooper

    These eleven essays written over the past fifteen years continue and develop Richard Cooper's central theme of interdependence, reflecting his experience in government in the Council of Economic Advisers and as Undersecretary of State for Economic Affairs. They focus in particular on the opportunities and constraints for national economic policy in an environment where goods, services, capital, and even labor are increasingly mobile. The first four chapters are informal, discursive treatments of economic and foreign policies in the face of growing interdependence among nations. The remaining chapters cover such specialist topics as optimal regional integration, the integration of world capital markets, the impact of greater interdependence on the effectiveness of domestic economic policy, the comparison of monetary and fiscal policy under fixed and flexible exchange rates, currency evaluation in developing countries, and the appropriate size and composition of a developing country's external debt. A concluding chapter surveys the preceding essays in terms of coordinating macroeconomic policymaking in an interdependent world economy.

    • Hardcover
    • Paperback $40.00 £32.00

Contributor

  • Global Carbon Pricing

    Global Carbon Pricing

    The Path to Climate Cooperation

    Peter Cramton, David JC MacKay, Axel Ockenfels, and Steven Stoft

    Why the traditional “pledge and review” climate agreements have failed, and how carbon pricing, based on trust and reciprocity, could succeed.

    After twenty-five years of failure, climate negotiations continue to use a “pledge and review” approach: countries pledge (almost anything), subject to (unenforced) review. This approach ignores everything we know about human cooperation. In this book, leading economists describe an alternate model for climate agreements, drawing on the work of the late Nobel laureate Elinor Ostrom and others. They show that a “common commitment” scheme is more effective than an “individual commitment” scheme; the latter depends on altruism while the former involves reciprocity (“we will if you will”).

    The contributors propose that global carbon pricing is the best candidate for a reciprocal common commitment in climate negotiations. Each country would commit to placing charges on carbon emissions sufficient to match an agreed global price formula. The contributors show that carbon pricing would facilitate negotiations and enforcement, improve efficiency and flexibility, and make other climate policies more effective. Additionally, they analyze the failings of the 2015 Paris climate conference.

    Contributors Richard N. Cooper, Peter Cramton, Ottmar Edenhofer, Christian Gollier, Éloi Laurent, David JC MacKay, William Nordhaus, Axel Ockenfels, Joseph E. Stiglitz, Steven Stoft, Jean Tirole, Martin L. Weitzman

    • Hardcover $35.00 £28.00
  • The Next Great War?

    The Next Great War?

    The Roots of World War I and the Risk of U.S.-China Conflict

    Richard N. Rosecrance and Steven E. Miller

    Experts consider how the lessons of World War I can help prevent U.S.–China conflict.

    A century ago, Europe's diplomats mismanaged the crisis triggered by the murder of Archduke Franz Ferdinand of Austria and the continent plunged into World War I, which killed millions, toppled dynasties, and destroyed empires. Today, as the hundredth anniversary of the Great War prompts renewed debate about the war's causes, scholars and policy experts are also considering the parallels between the present international system and the world of 1914. Are China and the United States fated to follow in the footsteps of previous great power rivals? Will today's alliances drag countries into tomorrow's wars? Can leaders manage power relationships peacefully? Or will East Asia's territorial and maritime disputes trigger a larger conflict, just as rivalries in the Balkans did in 1914?

    In The Next Great War?, experts reconsider the causes of World War I and explore whether the great powers of the twenty-first century can avoid the mistakes of Europe's statesmen in 1914 and prevent another catastrophic conflict. They find differences as well as similarities between today's world and the world of 1914—but conclude that only a deep understanding of those differences and early action to bring great powers together will likely enable the United States and China to avoid a great war.

    Contributors Alan Alexandroff, Graham Allison, Richard N. Cooper, Charles S. Maier, Steven E. Miller, Joseph S. Nye Jr., T. G. Otte, David K. Richards, Richard N. Rosecrance, Kevin Rudd, Jack Snyder, Etel Solingen, Arthur A. Stein, Stephen Van Evera

    • Hardcover $19.75 £15.99
  • Exchange Rate Management under Uncertainty

    Exchange Rate Management under Uncertainty

    Jagdeep S. Bhandari

    These twelve essays take up economic management under flexible exchange rates in the presence of uncertainty. Nearly all of the contributions adopt a rational expectations framework, focusing on the stochastic aspects of the assumption and exploring the variability of, for example, output and prices in relation to the variability of various external disturbances.

    • Hardcover $37.50
    • Paperback $30.00 £25.00