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On optimizing progress in a diversified economy.
March 1, 1998... Introduction
What follows is a further development of some ideas put forth at the London meeting of the International Atlantic Economic Society. In particular, I shall deal more fully, if still incompletely, with the process of innovation and...
Monetarism: the issues and the outcome.
March 1, 1998... "At home and elsewhere in Europe, I have often been called a 'monetarist'... For me it was an honor; they, however, meant it as an offense." Vaclav Klaus [1995]
Introduction
Theories of the relation of money to economic activity and the...
Do more open countries have a higher growth rate but more inequality?
March 1, 1998... Introduction
Currently, in order to open their economies to the world trading system, developing countries worldwide are undergoing extensive structural reforms, primarily under the tutelage of the World Bank and the International Monetary...
Twice a day or continuously? Observation frequency and inference on foreign exchange volatility persistence.
March 1, 1998... Introduction
Recent research, as reported in Ito et al. [1992] and Hogan and Melvin [1994], presented evidence related to the finding originally reported in Engle et al. [1990] that foreign exchange (FX) market volatility is transmitted...
Dynamics of parallel and official exchange rates: the experiment of Hungary.
March 1, 1998... Introduction
It is well known that illegal or black foreign exchange markets are an important component of economies of many developing countries. Government restrictions on free trading of foreign currencies create a dual (black and official)...
Exchange rate systems and linkages in the Pacific Basin.
March 1, 1998... Introduction
Many countries in the Pacific Basin, especially in East Asia, have made remarkable economic progress in the last two decades. The rapid outward-oriented growth of these economies has important implications for the global economy....
Aggregate fluctuations in a monetary two-sector endogenous growth model.
March 1, 1998... Introduction
Recently, much of the research in growth theory has focused on endogenous growth models where endogenous growth arises through human capital accumulation. Among others, Romer [1990], Lucas [1988], King and Rebelo [1990], and...
Turning to Adam Smith. (publications on life and works of political economist)
March 1, 1998... Introduction
The recent publication of Ian Simpson Ross's long-awaited Life of Adam Smith (being the closing step of the Oxford bicentennial Glasgow edition of the works and correspondence of Adam Smith) affords the proper opportunity for some...