exchange rate stability have a better explanatory power than the de jure measures in the inflation and growth equations. For … well as a highly significant positive impact of exchange stability on real growth. When sub-dividing the period into a … exchange rate stability with higher real growth remains quite robust. Thus our findings can be interpreted to mean that …

The paper investigates the impact of exchange rate volatility on growth in Emerging Europe and East Asia. Exchange … stability has been argued to affect growth negatively as it deprives countries from the ability to react in a flexible way to … stability can be argued to affect growth in emerging market economies positively because transaction costs for international …

include an additional dimension of public policy, namely education funding. Indeed, the productivity growth of future workers …

that growth can be enhanced by the introduction of pay-as-you-go pensions even if the growth rate of aggregate wages falls … redistributive. This means that if a flat benefit PAYG pension system is in place then the economy will achieve the highest growth …