This article examines the relationship between the renminbi real exchange rate and China's foreign exchange reserves using cointegration and Granger causality testing. The main findings are that in the long run foreign exchange reserves Granger cause the real exchange rate. Meanwhile, in the...

The Central and East European countries are affected after the fall of the communism, by the international migration for work towards the developed countries. The adherence to the European Union and the lift of restrictions on the labour market in Western Europe facilitated the short-term and...

Housing markets typically exhibit a strong positive correlation between the rate of price increase and the number of houses sold. We document this correlation on high-quality Dutch data for the period 1985-2007, and estimate a VEC-model that allows us to study the mechanism giving rise to the...