This article examines whether Inflation Targeting (IT) matters for long-run Purchasing Power Parity (PPP). For this purpose, we formally assess the evidence on PPP for a panel of 19 countries using two price indices and two panel unit root tests with cross-sectional dependence. The empirical...

This paper investigates dynamic and causal relations between stock returns and mutual fund flows in Korea using a system method which utilizes information from the stock, bond, and money markets. For this purpose, we employ DSUR proposed by Mark, Ogaki, and Sul (2005), SURECM, and two causality...