The purpose of this paper is to examine the relationship between the volatility of emerging stock markets (ESMs) and their degree of openness.

Using a small closed economy model Ball (1987) showed that nominal GDP targeting can lead to instability. This paper extends Ball ; s model to uncover the role inflation expectations play in generating this instability.

In this paper, we study an auction where bidders only know the number of potential applicants.

Using data for Swedish production workers, we find that the unexplained component of the gender wage is no larger for performance- related pay than for straight time wages suggesting the performance pay is no more discriminatory than time wages..