A vector error-correction model (VECM) is estimated to examine the relationship among interest rates, monetary base, credit claims to the private sector, real income, prices, government spending, budget deficits and exchange rate in Jamaica. Cointegration is used to identify the VECM. The...

The Peso crisis is examined by using the exchange market pressure model (EMP) over the period 1971:1 - 1995:4. Different estimators are used to obtain robust results. Empirical findings indicate that an incrase in domestic credit, crisis dummy and inflation rates leads to outflows of foreign...

The study constructs a monetary policy indicator (MPI) from monetary policy documents and the actions of the Bank of Jamaica and Ministry of Finance and Economic Planning, and uses it to estimate four variants of an analytical narrative-vector error correction model (AN-VECM) with cointegration...

Error-correction model and stepwise Granger causality technique are used to examine the long-run and short-term causal relationships between taxes and spending to determine the effective way of reducing deficit and debt problems in four Caribbean countries with bicameral legislatures. Granger's...