The transmission of monetary and fiscal policies in an international context is one of the most prominent topics in the realm of international finance. In particular, researchers are interested in the effects of the respective policy on exchange rate movements, international price level...

The literature on strategic policy interactions has focused on the implications of alternative strategic policy interactions, cooperative versus noncooperative, for equilibrium macroeconomic policies given the state of the world economy. This paper asks how changes in world economic conditions...

The post-World War II world trading system is now more than fifty years old, and not surprisingly, it has evolved through a number of different stages of development and survived a series of perils. Recently, however, the perils seem even greater than before. The failure of the Seattle...

The research in this paper has two objectives. Beginning with an examination of the historical development of how financial reporting standards are set in the United States and around the world, the Financial Accounting Standards Board and the International Accounting Standards Board will be...

Several interesting developments indicate that world attention is increasingly focusing on a "novel" category of trade barriers: non-tariff and non-border barriers. Following the Uruguay Round (the eighth round of negotiations under the General Agreement on Tariffs and Trade, "GATT"), scholars...

The revolutionary changes in information technology (IT), globalisation and financial innovation have overturned the Solow productivity paradox and spawned a New Economy (NE) in Australia in the late 1990s. Both growth accounting estimates and the use of the information superhighway ranks...

A model of a small open economy in which agents trade in local goods markets and an economy-wide asset market is developed. Purchasing-power parity is assumed to hold at the aggregate level. However, because of local deviations from purchasing-power parity, agents possess differential...

The main objective of the dissertation is to apply recent advances in modern econometric analysis, namely cointegrating Vector Autoregression (VAR) and Bayesian VAR (BVAR) to a small open regional economy like Hawaii. This is accomplished in three related yet independent essays demonstrating how...

The Genuine Progress Indicator (GPI) is estimated as if nations operate within a closed economy. Therefore, in terms of coverage, the GPI is most analogous to Gross Domestic Product (GDP). Indeed, within the relevant literature, these two indicators are most often contrasted. However,...

Incluye bibliografía ; In this paper we present the theoretical foundations and the simulation results obtained with a new dynamic general equilibrium model developed at the Banco de España for the Spanish economy and the rest of Euro area. The model is designed to help in simulating the...