This paper examines the effects of inflation targeting (IT) on output growth over the "globalization years" of 1986-2004. Employing static panel data methods that control for traditional growth determinants, trade openness and financial globalization, the paper finds that the adoption of a fully...

Blending regional studies with growth econometrics, we apply the seemingly unrelated regression (SUR) methodology to income, employment, and population growth over 1990-2000 for all 254 Texas counties organized in 24 geographic regions. Several results are discussed, along with the role of wages...

Using the U.S. as benchmark country, Korean data from 1970:1 to 2000:4 and Mexican data from 1983:1 to 2000:4 are decomposed into traded and non-traded sectors. We find that the traditional purchasing power parity (PPP) model performs remarkably well for the Peso and that the productivity model...

Examining quarterly real exchange rates (RER) from 1976 to 2006 in panels of Asian and Latin American countries, shows that crisis-battered Asian currencies incur a higher speed of adjustment towards purchasing power parity (PPP). The degree of mean reversion of the three most volatile Asian...

The paper investigates the relevance of the exchange rate on the reaction function of the central banks of 24 emerging market economies for the period 2000Q1 to 2015Q2. This is done by first employing fixed-effects ordinary least squares and then system generalized method of the moments...

This paper examines the effects of inflation targeting on industrial and emerging economies' output growth over the "globalization years" of 1986-2004. Controlling for trade openness and two indicators of financial globalization, the authors find systematic positive and significant effects of...