The main features and implications of a monetary regime based on inflation targeting are examined and compared to a system based on real exchange rate targeting. The latter is very effective in stimulating economic growth, but the 'trilemma' reduces the effectiveness of stabilization based on...

This paper evaluates the case for inflation targeting (IT) in India. It states the objectives of monetary policy in India and argues that, with widespread poverty still present, inflation control cannot be an exclusive concern of monetary policy. The rationale for IT is spelt out and found to be...

The Philippines' shift in monetary policy from 'monetary targeting' in the 1980s and 1990s to 'inflation targeting' (IT) in 2002 has so far brought in a more 'benign' monetary policy that is more sensitive to output objectives. This result is mainly due to low inflation rates in the Philippines...

In this paper we argue that in order to analyse firm governance we need to reappraise the nature of the firm. Based on Austrian and Marshallian categories we consider the firm as a processor of production and knowledge, whose governance is implemented through the cooperative actions of...

We argue that the macroeconomic regime focused on the preservation of a stable and competitive real exchange rate (SCRER) has been a key factor explaining the rapid growth experienced in Argentina during 2002-2007. This policy promoted economic growth not only by preserving external and fiscal...

This article uses data from the Portuguese Community Innovation Survey (CIS III) to analyse the inter-industry heterogeneity in the diffusion of innovations and level of technological competition in Portuguese manufacturing and service industries. The industries are classified with reference to...

We examine the impact of government policy on the incidence of temporary work by analysing the case of British Columbia (BC), Canada. The analysis is based upon the Canadian Labour Force Survey 1997-2004; temporary work is defined as work that is not expected to last for more than 6 months and...

As corporate governance is more driven by shareholder-oriented principles, managers are expected to adopt new attitudes and to be more accountable to shareholders in terms of their strategies and decisions. Yet, when governance is seen primarily as a 'corporate matter', it exclusively concerns...

This paper investigates the structural determinants of relative inflation (i.e. the inflation of non-tradables vs tradables) in the context of overall inflation differentials in the EU. The analysis is based on the Bergstrand theoretical model. This framework incorporates three alternative...

This article considers the employment costs of inflation reduction in developing countries from a gender perspective. We explore two broad empirical questions: (1) what is the impact of inflation reduction on employment, and is the impact different for women and men, and (2) how are monetary...