The question whether increased openness on trade account creates a favorable atmosphere for inflation reduction has been examined in the present study. The empirical results employing quarterly data over the 21-year period from 1984-85 to 2004-05, indicate that while trade openness has...

This paper proposes a set of alternative DEA-based money indices that are proved to be both theoretically and empirically competing monetary aggregates since they perform as good as the Divisia aggregates. Based on all the results concerning causality, forecasting and money demand, we conclude...

Books reviewed: Ulf Beckmann, Von Lowe bis Leontief Friedel Bolle and Michael Carlberg (eds.), Behavioral Economics Paul Dalziel, Money, Credit and Price Stability Vivien Foster, Susana Mourato, David Pearce and Ece Ozdemiroglu, The Price of Virtue Joshua Gans (ed.), Publishing Economics Otmar...

This paper proposes a set of alternative DEA-based money indices that are proved to be both theoretically and empirically competing monetary aggregates since they perform as good as the Divisia aggregates. Based on all the results concerning causality, forecasting and money demand, we conclude...