The authors find strongly non-Ricardian results when they reestimate Paul Evans's (1988) model using a better approximation of the market value of wealth. The authors also examine the long-run properties of the data and find results consistent with their regression evidence when they allow for...

The U.S. wage growth slowdown since 1982 has generated a large controversy over its causes. A hypothesis that has received extensive attention is based on international-competitivene ss effects. The evidence is mixed.and several authors have proposed alternative hypotheses based on economic or...

This paper reexamines the effectiveness of devaluation in trade-balance adjustment. The question is addressed in a framework that improves the previous empirical literature in several respects. The evidence indicates that devaluations have been a successful tool in inducing trade-balance...

This paper investigates the inflationary impact of actual and expected de valuations. The empirical evidence indicates that (1) the effects of devaluation on the price level are felt for at least three years; (2) in the majority of the cases, the ceteris paribus inflationary impac t of...