This paper examines the extent to which the evolution of monetary policy frameworks and actual policy decisions in the United States and Japan contributed to the differences in macroeconomic performance of the two countries in the 1980s and 1990s. It considers the extent to which monetary policy...

This paper compares Denmark's growth performance to that of the other 18 non-Eurozone OECD economies during 2008-12. Denmark is the only country with a fixed exchange rate regime; the other 18 countries all have flexible exchange rates, mostly as part of an inflation-targeting framework. At the...

This article examines the role of monetary policy and trade openness to raise income in India for the monetary-targeting regime and the multiple-indicator approach regime of monetary policy. The impact of the key instruments of monetary policy, namely, money supply, interest rate and exchange...

This paper is an application of the newly-developed technique to assess the efficiency of monetary policy in five East Asian Countries. It measures the contribution of improved monetary policy to the changes in macroeconomic performance in terms of inflation and output variability before and...

This paper investigates recent developments in meta-analysis, the tool to quantitatively synthesize research in a certain body of literature. After providing a brief overview on how to do a meta-analysis and discussing recent methodological advancements in the field, I review applied...

The main focus of this paper is the relation between the cyclical components of total revenues and expenditures and the budget balance in France, Germany, Portugal, and Spain. We try to uncover past trends behind the development of public finances that contribute to explaining the current stance...

The sovereign debt crisis in the euro area has increased the interest in early warning indicators, with the aim to indicate the build?up of fiscal stress early on and to facilitate crisis prevention by a timely counteraction of fiscal and macroeconomic policies. This paper presents possible...

This paper assesses the contribution of the European Central Bank (ECB) to Germany's ongoing economic crisis, a vicious circle of decline in which the country has become stuck since the early 1990s. It is argued that the ECB continues the Bundesbank tradition of asymmetric policymaking: the bank...

In this paper, we aim to contribute to the recently growing body of political economy literature on growth regimes. Theoretically, we apply the demand and growth regime approach developed within post-Keynesian macroeconomics. This is complemented by a critical comparative political economy...