This paper investigates empirically the relationship between exchange rates and producer prices in the U.S. using a multivariate dynamic framework. Cointegration tests reveal that is a stable long-run relationship between prices, exchange rates and other factors according to which depreciations...

This paper uses a stochastic production frontier for panel data to investigate the effect of financial development on productive efficiency. Three panels of a number of countries in different stages of development are used along with eight alternative measures of financial development pertaining...

This paper focuses on the possible interaction between foreign direct investment (FDI) and the host country’s infrastructure base. Its central hypothesis is that the effect of FDI on per capita real income depends, at least in part, on the size of the recipient country’s infrastructure. This...

Much research has shown that mortgage rates exert a negative influence on housing prices. This study analyses the long- and short-run relationships between housing prices and mortgage rates using advanced nonstructural estimation methods. As expected, a bivariate specification and a...