This paper takes a new empirical look at the longstanding question of the effect of exchange rate volatility on international trade flows by studying the case of Taiwan's exports to the United States from 1989-1998. In particular, we employ sectoral level, monthly data and an innovative rational...

This paper attempts to clarify theoretically the link between remittances , industrialization by foreign capital as well as the size of its volatility. In particular, the model shows clearly that if the flows of foreign capital induce volatility in the economy, the bulk of remittances from the...

Inflation volatility is clearly important for structural analysis, forecasting and policy purposes, yet it is often overlooked in the literature. This paper compares in ation volatility among advanced open economies with in ation targeting monetary policy frameworks. The results of the empirical...