The article analyses the behavior of an open economy in which wages are fully indexed to prices. It specifically deals with the dynamics of inflation, aggregate demand, balance-of-payments deficits and the public budget deficit.

The paper examines the relationship between banking and securities activities in the light of financial market developments (securitisation, institutionalization of investment, emergence of complex financial instruments, conglomeration and consolidation), with particular reference to Europe. The...

The paper examines the relationship between banking and securities activities in the light of financial market developments (securitisation, institutionalization of investment, emergence of complex financial instruments, conglomeration and consolidation), with particular reference to Europe. The...

Over the years,reflecting a growing consensus on the priority of price stability as the objective of central banks and on market-oriented techniques as the appropriate instruments for monetary control,the focus of the debate has gradually shifted to what can be called the style of monetary...

The paper examines the relationship between banking and securities activities in the light of financial market developments (securitisation, institutionalization of investment, emergence of complex financial instruments, conglomeration and consolidation), with particular reference to Europe. The...