productivity of the economy. Trends in social consumption/GDP, and in fiscal policy, reflected political regime changes in France …

adverse consequences for aggregate labor productivity. Using high-quality administrative data from Germany, we document that … data predicts 10 percent lower aggregate labor productivity in East Germany. …

Historical data for over hundred years and 14 countries is used to estimate the long-run effect of productivity on the … real exchange rate. We find large variations in the productivity effect across four distinct monetary regimes in the sample … argue that changes in trade costs over time may affect the impact of productivity on the real exchange rate over time. We …

The role of the exchange rate under inflation targeting (IT) remains an unresolved issue in literature and policy … whether there is a relation between the nominal exchange rate regime and inflation performance in IT countries. We use a panel … regime that differs from a pure float entails higher or lower inflation. We use two de facto foreign exchange regime …

This paper develops a model of inflation in an open economy. The model permits analysis of the susceptibility of open … paper arrives at a “structuralist inflation targeting agenda”. Based on a proper conception of inflation dynamics, this … involves “getting inflation targeting right” rather than either accepting mainstream inflation targeting prescriptions or …

does not play a role in restricting inflation in the short-run. On the other hand, a fixed exchange-rate regime plays a … significant role. The results are robust to controlling for other variables that determine inflation, performing sensitivity …