This paper analyzes bond and stock markets in Latin America and uses these patterns to investigate whether contagion occurred in the 1990's. It defines shift-contagion' as a significant increase in cross-market linkages after a shock to one country or region. Several coin-toss examples and a...

The availability of micro pricing data has produced an empirical revolution in macroeconomics. Two events were the main culprits: First, nation statistical offices allowed economists to study the data underlying the construction of the CPI, letting our profession the chance to tackle many...