This study mainly examines the role of macroeconomic policy variables associated with Maastricht Convergence Criteria (MC), using various approaches to analyze comparatively differences in growth and convergence in income, productivity, and unemployment between a developed, economically...

The Author investigates the problem of mutual influence and dependence'sbetween estimates of quality of “economic” institutions, indicators of monetary stability, and growth rates in representative group of different economies - developed, developing and transitional (Selected Economies) at...

Does global financial integration reduce the independence of monetary policy or its effectiveness? Do flexible exchange rates offer sufficient insulation from foreign monetary and financial developments? To provide an answer to these questions, this paper summarises the outcome of ongoing...

The goal of this paper is to examine the impact of crude oil price movements on two macro variables, the gross domestic product (GDP) growth rate and the consumer price index (CPI) inflation rate, in three countries, the People's Republic of China (an emerging economy), Japan, and the United...

Die Wirtschaftsprogramme der 23 OECD-Länder setzen unterschiedliche Schwerpunkte. Im Mittelpunkt der Programme stehen Geld- und Fiskalpolitik, Einkommensunterstützung und Konjunkturprogramme, Arbeitsmarktpolitik und andere staatliche Programme in Bereichen wie Infrastruktur, Gesundheit,...

Key medium- and longer-term fiscal issues faced by transition economies are reviewed, including government solvency and the sustainability of the fiscal-financial-monetary program. The paper aims to assist the design and implementation of future Fund programs and to contribute to the debate...

The paper treats the eco currency union project in West Africa and its implications for monetary policies against the backdrop of the international monetary order from a post-Keynesian perspective. The eco zone project envisions a common monetary union of the West African Economic and Monetary...

The digitalisation workstream report analyses the degree of digital adoption across the euro area and EU countries and the implications of digitalisation for measurement, productivity, labour markets and inflation, as well as more recent developments during the coronavirus (COVID-19) pandemic...

This paper uses a Dynamic Stochastic General Equilibrium (DSGE) model to estimate the South African Reserve Bank's (SARB) policy reaction rule. We find that the SARB has a stable rule very much in line with those estimated for Canada, UK, Australia and New Zealand. Relative to other emerging...

This paper compares Denmark's growth performance to that of the other 18 non-Eurozone OECD economies during 2008-12. Denmark is the only country with a fixed exchange rate regime; the other 18 countries all have flexible exchange rates, mostly as part of an inflation-targeting framework. At the...