As economic globalisation runs its seemingly relentless course, the demands on OECD economies' flexibility are set to increase still further in the years to come. What kind of society will be able to cope with these pressures? How much and what kinds of adaptability will be required of...

The current monetary policy framework in several Latin American countries, combining inflation targeting and a floating exchange-rate regime, has contributed to disinflation by anchoring expectations around low, stable levels. This paper uses co-integration analysis to estimate simultaneously a...