What do stock markets tell us about exchange
rates? Bank of England (2015-07-28)
The sign of the
correlation between equity returns and exchange rate returns can be positive or
negative in theory. Using data for a broad set of 42 countries, we find that
exchange rate movements are in fact unrelated to differen .. more |
What Measure of Inflation Should a Developing Country Central Bank
Target? NBER (2015-07-28)
In closed or open economy models with
complete markets, targeting core inflation enables monetary policy to maximize
welfare by replicating the flexible price equilibrium. We analyze this result in
the context of developing econom .. more |
Is a Very High Public Debt a Problem? Levy
(2015-07-28)
This paper has two main objectives. The first is to propose
a policy architecture that can prevent a very high public debt from resulting in
a high tax burden, a government default, or inflation. The second objective is
to show th .. more |