We test a simple model of exchange rate regime choice with data for non-OECD countries covering the period 1980-94. We find the variance of output at home and in potential target countries as well as the correlation between home and foreign real activity are powerful and robust predictors of...

The authors analyze whether central bank independence (CBI) affects inflation in developing countries. For this purpose they have constructed a new data set for the turnover rate (TOR) of central bank governors for a very large sample of countries, which also covers the 1990s. They find that...

The purpose of this paper is threefold. First, we survey the way in which the tax burden on labour has been proxied for in recent multi-country macro-economic studies. Second, we criticalyy evaluate these proxies. Finally, we examine to what extent the conclusions of some studies change if some...