This paper examines the effects of anticipated and unanticipated components of US money supply announcements on exchange rates for each day of the week for eight industrialized countries. The results show that most of the reaction to the anticipated component occurs before the announcement....

Different countries use different methods of estimating net capital stock at the aggregated as well as at the disaggregated levels. While analysing cross-country data, for consistency it is important that capital stock series be estimated by the same method across all the countries in the model....

We analyse the disinflationary experience between 1979-93 for two traditionally inflationary countries of the European Monetary System: France and Italy. For each country, a vector autoregressive model is estimated. Shocks in the model combine domestic and foreign sources. The latter capture the...

This article estimates inefficiency and Total Factor Productivity (TFP) across Indonesian provinces from 1993 to 2000. Indonesia is a large emerging market economy, but provinces within the country (due to the island structure of the country) are more distinct from one another compared to other...

This study seeks to analyse the relationship between exports and growth for 19 less-developed countries. It utilizes multivariate causality analysis based on the error correction model to address several important hypotheses. The results indicate that when exports have a causal influence in the...