The paper reviews the recent conduct of monetary policy and the central bank's rule-based behavior in Russia. Using different policy rules, we test whether the central bank in Russia reacts to changes in inflation, output gap and the exchange rate in a consistent and predictable manner. Our...

This study investigates the effects of GDP per capita on infant mortality using panel data from 83 developing countries over a period of 40 years. Although economic growth broadly decreases infant mortality, the impact of economic growth on infant mortality for the periods of economic booms and...

Recent contributions to the empirical growth literature show no tendency to convergence in specification, as researchers seek to identify new variables that can account for significant regional effects in earlier work. We conduct non-nested tests between the models of Barro (1997), Easterly and...

It is shown that convergence in inequality has been significantly slower amongst developing countries.

In this paper, we introduce the fairness approach to efficiency wages into a standard model of international fragmentation. This gives us a theoretical framework in which wage inequality and unemployment rates are co-determined and therefore the public concern can be addressed that international...