The relationship between inflation and the relative variability of prices has been the subject of careful investigation in the United States using data for product groups at the city level. Yet in Europe, where the relationship could have profound effects on the viability of monetary...

This paper considers the functional relationship between relative price variability (RPV) and inflation using quarterly personal consumer expenditure data in the US over 1967(I)-2003(I), deriving some implications for monetary policy. Non-parametric regression techniques are used to explore the...

I construct a model of investment in Israel that incorporates both standard economic factors and indicators of political instability and unrest. The model is used to estimate both the extent to which the "Intifada" has depressed Israeli investment in different kinds of capital good, and the size...

One factor limiting aid effectiveness is its volatility. We examine aid volatility in 66 countries over 1975-2004, paying particular attention to the characteristics of 'difficult partnership countries' and making a distinction between sector aid and total aid. We explore whether weak recipient...

Data from 19 African nations is used to investigate the hypothesis that monetary union-represented in this case by the CFA Franc Zone-augments the extent of macroeconomic integration. The paper covers two key dimensions of integration: the volume of bilateral trade, and the magnitude of...