In this paper we speculate about the evolution of the international monetary system in the last two-thirds of the twentieth century absent the Great Depression, but present the major post-Depression political and economic upheavals: World War II and the Cold War. We argue that without the...

Several authors have recently interpreted the ECB's two-pillar framework as separate approaches to forecast and analyse inflation at different time horizons or frequency bands. The ECB has publicly supported this understanding of the framework. This paper presents further evidence on the...

This paper analyses US–European policy interactions under different assumptions about the policy-making regime and the nature of the fiscal environment, contrasting the standard Keynesian case with an anti-Keynesian case in which government spending cuts are expansionary. When fiscal policy is...

This paper studies the evolution of monetary policy targets over the course of the past 200 years. We argue that policy targets are set as part of an assignment procedure that is intended to address both time consistency and monitoring problems. As a result, central banks, after having been...

Advances in the transaction technology allow agents to economize on the cost of cash management. We argue that accounting for the impact of new transaction technologies on currency holding behaviour is important to obtain theoretically consistent estimates of the demand for money. We modify a...

El presente trabajo estudia un modelo sustentado en los fundamentos de la regla de Taylor para evaluar la previsibilidad de la tasa de cambio nominal de seis divisas latinoamericanas - el peso argentino, el peso chileno, el peso colombiano, el peso mexicano, el peso uruguayo y el real brasileño...

A comment on Lars Jonung and Eoin Drea's (2010) article, "It Can't Happen, It's a Bad Idea, It Won't Last: U.S. Economists on the EMU and the Euro, 1989-2002." _Econ Journal Watch_ 7(1):4-52. Link

A comment on Lars Jonung and Eoin Drea's (2010) article, "It Can't Happen, It's a Bad Idea, It Won't Last: U.S. Economists on the EMU and the Euro, 1989-2002." _Econ Journal Watch_ 7(1):4-52. Link

Rejoinder to the comments on: “It Can’t Happen, It’s a Bad Idea, It Won’t Last. U.S. Economists on the EMU and the Euro, 1989—2002.” In Jonung and Drea (2010) we surveyed the evolution of the views of U.S. economists on European monetary unification from the publication of the Delors...

A comment on Lars Jonung and Eoin Drea's (2010) article, "It Can't Happen, It's a Bad Idea, It Won't Last: U.S. Economists on the EMU and the Euro, 1989-2002." _Econ Journal Watch_ 7(1):4-52. Link