A popular suggestion among emerging or transition economies is to 'dollarize' or 'euro-ize'; that is to adopt the currency of a larger, richer neighbour in order to import the monetary discipline and financial stability of that neighbour. This paper examines the pros and cons of that suggestion...

This paper adumbrates a theory of what might be going wrong in the monetary SVAR literature and provides supporting empirical evidence. The theory is that macroeconomists may be attempting to identify structural forms that do not exist, given the true distribution of the innovations in the...

In practice factorizations of a generalized inverse often arise from factorizations of the matrix which is to be inverted. In addition to full rank factorizations, normal factorizations and singular value decompositions (SVD) there are other factorizations of particular matrices that are natural...