Recognition that official classifications of exchange rate regimes are often misleading has led to considerable interest in behavioral measures. Many of these measures are related to the concept of exchange market pressure that shows how policy interventions affect how much a given change in...

In this paper we present a point voting system with declining weights on votes Abstract for the representation of spillover interests among governments in a federalist system. In theory our model represents a formalization in terms of voting of Musgrave's proposal of varying benefit taxes to...

There is no lack of opinion whether the public sector in the United States is too large or too small and there may even be a few who would argue that the present public-private mix is the correct one. While different individuals inevitably have different opinions given their underlying...

This book takes a global approach, with an emphasis on North and Latin America respectfully, by discussing one of today's most controversial topics in business; Dollarization. With the collapse of the former Soviet Union, and the formation of the Euro in Europe, many countries and debating...

The crisis in Greece and other mainly southern Eurozone countries has been discussed primarily as a fiscal issue. Current account deficits of the same countries have received less attention in spite of the relatedness of current account and fiscal deficits. We argue that the failure of many...

<heading format="display" id="h1" implicit="yes" level="1">Abstract</heading> Some have argued that the endogenous responses to the formation of a currency area are so strong that one need not worry about optimum currency area conditions ex ante. We argue that this is much too strong a conclusion. We draw on a number of recent studies to evaluate the endogeneity...