Since the European Monetary System was instituted in March 1979, there has been a dramatic reduction in the inflation rates of member countries This development is widely attributed to the EMS itself. The purpose of this paper is to argue that the theoretical and empirical basis for such a claim...

This paper examines South Korea's macroeconomic performance and experience with external debt during 1960-1986. Most of Korea's debt was accumulated during three periods: 1966-69, 1974-75 and 1979-81. Each involved an initial phase of economic difficulty and an slow-down in growth, followed by...

This paper empirically examines US goods trade with China, focusing on the performance of exports. Throughout the analysis, we explore whether US trade is unusual by contrasting it with trade from Japan and the EU-15. The issue is examined from three perspectives: the commodity composition of...