This paper investigates the sources of movements of the yen-dollar exchange rate using a structural vector autoregression (VAR) with a combination of short-run and long-run zero restrictions. We find that real shocks dominate nominal shocks in explaining the exchange rate movements, with...

The purpose of this paper is to employ the quantile regression methodology to investigate the relationship between government size and economic growth using a panel data set for 24 OECD countries. We find that the magnitude of the effect of government size on economic growth varies through the...

The expert contributors – both Asian and Western – illustrate that as G20 members, many Asian countries are now able to showcase their increasing powers and influence on global issues. Within this context, and via multidisciplinary economic and political science perspectives, the...

International monetary policy trilemma—the tradeoff among exchange rate stability, monetary independence, and unrestricted capital mobility—is an important constraint for policy makers in an open economy. This paper investigates an aspect of the hypothesis that has received relatively less...

This Paper analyzes the role of real disturbances in the real dollar exchange rates of the mark, yen and the pound both during the post-1973 float and in the long-run historical date. The results indicate dominate roles of real shocks in all three exchange rates in the post-1973 float although a...

This paper utilizes cointegration analysis to examine purchasing power parity relationships over a long-time horizon. The results indicate that the exchange rate is cointegrated strongly with the wholesale price index ratio and somewhat weakly with the consumer price index ratio. The...

This paper discusses causes of capital flows in Korea and Mexico. Both countries received substantial amounts of foreign capital in the late 1980s and early 1990s. International capital helped these countries achieve a higher standard of living and faster economic growth. However, undesirable...