The transmission of correlated economic disturbances is analyzed in a three-country world, where two countries have no macroeconomic impact on a third country but are large enough to influence each other under a system of mixed exchange rates-a system that combines both fixed and flexible...

This paper investigates the impact of monetary and import price changes on the domestic rate of inflation for each of six Asian developing countries: India, Korea, Malaysia, the Philippines, Thailand and. Sri Lanka. It also provides empirical tests of asymmetry between the effect of positive...

In this paper a simple open economy macro economic model is developed to identify which of the gaps-saving-investment, trade, or fiscal-become the binding constraints in the adjustment process with growth in developing countries. Using results of comparative statistics, the stability conditions...