Net international capital movements entail equivalent net resource transfers. Arbitrage in perfectly integrated finan-cial markets instantaneously eliminates yield differentials through valuation adjustments. But the stock adjustments that constitute the essence of net capital movements may also...

One possible consequence of the establishment of the Euro is a challenge to the hegemony of the US dollar as the predominant international currency. No other currency has been able to rival the international role of the national currency of the US since World War II. The fact that the unipolar...

Services trade is an important source of growth in Malaysia and Singapore. Both economies are export-oriented and actively court foreign direct investment (FDI) to advance their economic objectives of industrialisation and economic development. This paper examines the causal linkages between...

This paper addresses the implications of the increasing skill intensity of cross-border migration flows for labour market outcomes in host countries. Specifically, we investigate the impact of the relative growth of skilled migrants on domestic wages in Australia over the last quarter century...

The study is motivated by the consideration that large and variable statistical discrepancies in key economic performance data and successive data revisions may distort the conduct of economic policy and its subsequent evaluation. Its specific object is the exploration of the statistical...

This paper investigates the impact of the relative growth of skilled migration on the structure of Australian wages. Unlike conventional approaches, the present study uses macro data to examine the response of wages to immigration flows. We use instrumental variable techniques to control for the...

The establishment of the Euro could present a challenge to the hegemony of the US Dollar as the predominant international currency. The fact that the unipolar US Dollar dominated international monetary system can be unstable in the presence of large shocks presents an opportunity for the Euro to...