This chapter investigates the contribution of cross-border production networks to the international competitiveness of a nation’s producers. Cross-border sourcing of components has effects on productivity and efficiency that are very similar to those of technical progress. When a country’s...

Choosing an exchange-rate regime is largely a matter of choosing the variables that will bear the brunt of adjustment to shocks and disturbances. Floating rates, supported by inflation-targeting regimes of varying degrees of transparency, have dominated currency arrangements in North America,...