The movement of illegal goods and illegal migrants also points to the importance of Mexico. Ignoring Mexico leaves a large hole in the U.S. security perimeter. If it is so easy for goods and people to move across the border, how does the United States plan to improve security without Mexican...

Recent studies of the effect of currency arrangements on goods market integration (starting with Rose, 2000) employ a methodology based on volumes of trade. However, the connection between market integration and trade flows can be loose. In this paper, we adopt a different methodology that uses...

The short experience with liberalisation of capital inflows documented in this paper highlights the pressures of a capital surge upon domestic monetary management.It also reveals the additional constraint of fiscal- led monetary expansion in India,which are likely to be impediments to future...

Between 1989 and 2003, low-income countries received $100 billion in debt relief. The stated objectives for much of this debt relief have been to reduce debt overhang and to free up recipient government resources for development spending that would otherwise have been used for debt service. In...

The complex blue prints of ODE and PDE based capital market models remain closed to systematic review. Particularly, when some authors of mathematical models can not or may not offer explicit solutions. Artificially generated 'cloned' courses can demonstrate the impact of various types of...

This paper extends the ongoing discussion on optimal exchange rate regimes to the issue of pro-poor growth. To analyze empirically the poverty effects of exchange rate regimes, we estimate the distribution effects of different exchange rate arrangements on the poorest 20 and 20 to 40 percent. In...

Fundamental sources of the Russian financial crisis in 1998 are discussed. Focus is made on the time horizon of judgements concerning sustainability of the economic policy. It is argued that the macroeconomic policy pursued by the monetary authorities was not robust in a medium run, but, in the...

We examine whether a link exists between oil price shocks and the U.S. real effective exchange rate. The results show that the two variables appear to be cointegrated and that causality runs from oil prices to the exchange rate and not vice versa. The single-equation error-correction model...