This article considers a transition toward European monetary union that combines increased substitution of currencies and greater monetary, financial, and fiscal policy coordination. It explores how such a transition would affect national inflation and interest rates and required reserve ratios...

The exchange rate arrangement represents an important policy choice for emerging and transitional economies as they strive to become stable and market-driven. A wide variety of arrangements have emerged, ranging from currency boards, basket-currency pegs and single-currency pegs to floating...

The exchange rate arrangement represents an important policy choice for emerging and transitional economies as they strive to become stable and market-driven. A wide variety of arrangements have emerged, ranging from currency boards, basket-currency pegs and single-currency pegs to floating...

This paper develops a model of an open economy containing both sectors in which wages are market-determined and sectors with wage-setting arrangements. A portion of the latter group of sectors coordinate their wages, taking into account that their collective actions influence the equilibrium...

In this paper, a two-country leader-follower model with imperfect asset substitution is used to derive the optimal sterilization coefficients for two-country flexible and fixed exchange rate regimes. It is found that, in general, incomplete sterilization is optimal. However, both the origin and...

This chapter addresses the lacuna of research on the state within the financialization literature by focusing on state-firm relations to explain capitalist processes and formations. Set in the context of Singapore's banking restructuring in the late-1990s and early-2000s, we argue that what...

Despite their non-traditional approach, megachurches have grown significantly in the United States since 1980. This paper constructs a model of religious investment to examine how “seeker”-oriented megachurches succeed in attracting and retaining new members. The model illustrates that...

Using the results of a national identity survey, we test the impact of religious affiliation on trade and immigration-policy preferences of U.S. residents while controlling for individual level of skill, political ideology, and other important demographic characteristics. Our results show that...

Despite declining in 2001, foreign direct investment (FDI) surged during the 1990s. As a result, current levels of FDI flows are triple their 1990 levels. It is well documented in the literature that FDI occurs in large part among countries that are geographically close. It is also well...

Though the recent literature offers intuitively appealing bases for, and evidence of a linkage between religious beliefs, religious participation and economic outcomes, evidence on a relationship between religion and trust is mixed. By allowing for an attendance effect, disaggregating Protestant...