Abstract The new Subsidies Code from the Uruguay Round of the GATT includes several improvements. For the first time the various forms of subsidies have been classified, and the respective allowable retaliation measures have been defined. A noteworthy advancement is the ban on subsidies which...

This paper analyzes the inflation dynamics of several countries belonging to the European Monetary Union and of the UK. We estimate the two main parameters driving the degree of persistence in inflation and its uncertainty using a dual long memory process. We also investigate the possible...