This paper discusses the determinants of the Mexican peso devaluation of December 1994. An examination of basic economic data reveals the shortcomings of existing explanations based on either inconsistent macroeconomic policies or self-fulfilling prophecies. We argue in contrast that the...

As part of the Lome Convention the STABEX programme is one of the instruments of the European Union's development policy. Its objective is to reduce the instability of the agricultural export earnings of the developing countries which signed the agreement. By working on a commodity-by-commodity...

The success or failure of macroeconomic policy over time and in comparison to other countries is an important item in political discussions. The present paper discusses the relative advantages and disadvantages of different forms of indices which aim at an aggregated picture for macroeconomic...