This paper evaluates the performance of two alternative policy rules, a forward-looking rule and a spontaneous adjustment rule, under alternative inflation targets, in terms of output losses in a macroeconomic model, using European Union data. The simulations suggest that forward-looking rules...

Rodriguez and Rodrik (2000) argue that the relation between openness and growth is still an open question. One of the main problems in the assessment of the effect is the endogeneity of the relation. In order to address this issue, this paper applies the identification through heteroskedasticity...

This paper discusses Uganda’s Poverty Eradication Action Plan (PEAP) 2004/05–2007/08. The PEAP provides an overarching framework to guide public action to eradicate poverty. It has been prepared through a consultative process involving central and local government, parliament,...

This paper examines Kenya’s Poverty Reduction Strategy annual progress report. The Investment Program for the Economic Recovery Strategy is Kenya’s medium-term strategy to foster economic growth and reduce poverty. Poverty is defined as the inability to command resources and is a...

This paper examines the extent to which conclusions of cross-country studies of private savings are robust to allowing for the possible heterogeneity of savings behavior across countries and the inclusion of dynamics. It shows that neglecting heterogeneity and dynamics can lead to misleading...

Using domestic and export price data and a framework of markup over cost, pricing behavior of U.S. and Japanese manufacturers is compared. Major export industries in Japan have higher productivity growth and lower pass-through coefficients than American exporters, who tend to price to domestic...

This study estimated Indonesia's potential growth rate and examined its underlying determinants. Implementing a comprehensive program to address key influencing issues can improve the effectiveness of monetary policy, increase financial stability, and support capital market development. This...