В настоящем отчете исследуются вопросы включения России в глобальные экономические процессы, проанализировано основное направление включения России в...

В период рыночных реформ Россия и другие государства - члены СНГ стали активно включаться в глобальные мирохозяйственные процессы. Однако, как показано в отчете,...

It is found that over 1999:1-2012:12 China’s monetary expansion influences Japan through the effect of China’s growth on world commodity prices, increased demand for imports, and exchange rate policy. China’s monetary expansion is associated with significant increases in Japan’s...

Firms in emerging markets are exposed to severe financial frictions and credit constraints that are exacerbated by the sudden stop of capital inflows. Can monetary policy offset this external credit squeeze? We show that although this may be the case during moderate contractions (or in partial...

We highlight in this note how an application of a similar estimation approach as ours to Colombian data for a more recent period following financial and capital account liberalization may find that the money supply is "endogenous" (i.e. demand-determined as long as the exchange rate is heavily...

This paper provides an overview of the evolution of macroeconomic thought from 1936, the year John Maynard Keynes published his general theory of employment, interest and money to the year 2010. It explores the reasons for the extension of the business cycle during the postwar period. The paper...

Like many countries, Spain has gone through a series of financial crises, both before and after its industrialization. There are many underlying causes for these crises, as well as for the current Spanish downturn. It is worth noting that there are similarities between recessions throughout the...

This research has the primal objective of forecasting the viability of Poland as a present member of European Union taking a step further and joining the inner circle by adopting euro as its currency. A study about short and long term implications of this decision on the country’s economic...

This paper has a two-fold orientation: firstly, it examines the linkages and the time-series properties of a set of nominal and real macroeconomic variables in Greece, under different exchnage-rate systems and varying fiscal regimes. Secondly, it makes an effort to evaluate some macro-monetary...

These eleven essays written over the past fifteen years continue and develop Richard Cooper's central theme of interdependence, reflecting his experience in government in the Council of Economic Advisers and as Undersecretary of State for Economic Affairs. They focus in particular on the...