This paper has focused on the extent to which the traditional tools of macroeconomic management in the United States, monetary and fiscal policy, have contributed to a political business cycle. Regardless of whether politicians can successfully influence real economic variables to their own...

While there has been considerable research on the consequences of financial crises, there has been little empirical research on the possible effects of the role of domestic political institutions that influence a government's ability to implement crisis management policies. This paper...

Using panel estimation for a large sample of industrial and developing countries we find significant negative effects of inflation on economic growth. The magnitude of these effects is, however, much larger for the industrial countries than for the developing countries

Purpose – The purpose of this paper is to discuss implications of the global crisis for economic and financial research and policy. Design/methodology/approach – The paper reviews many recent studies on the crisis and offers the author's views on some of the most important lessons to be...

Purpose – There has been significant interest in the classification of exchange rate regimes in order to investigate a wide range of hypotheses. Studies of the effects of exchange rate regimes on crises and other aspects of economic performance can have important implications for policy...

Economists' continuing criticisms of protectionism make a valuable contribution to the general interest element of the forces which operate to keep propensities to protect somewhat in check. McKenzie rightly warns, however, that proposals by economists for giving protection in more efficient...