The past two decades of economic activity in the U.S. have been characterized by both high inflation and interest rates in comparison to previous periods of stability. The importance of these two variables to our economic welfare and to the effectiveness of economic policy have led to renewed...

How do prices in a small open economy such as Canada adjust to external disturbances in the short‐run? What role does domestic monetary policy play in the adjustment process?

The literature concerning the subject of inflation and relative prices has been growing so fast in the last few years that a review in chronological order allows for a greater understanding of the subject. This approach is taken here.

This paper is an application of the Girton‐Roper (G‐R) exchange market pressure model to Mexico for the period 1953 through 1980. The analysis is both a test of the basic thesis of the model as well as an attempt to incorporate improvements in the model as suggested by recent literature on...

The Haitian gourde is one of the most curious and exotic currencies of the world. On it is printed the striking statement: “The banknote, in conformity with the Constitution of the . Republic of Haiti, is payable to the bearer in legal money of the United States of America at the rate of five...

This paper can be integrated in the set of studies that following the first work by Borcheding and Deacon have tested different specifications of Median Voter Models. The main innovation in this paper results from the use of a proxy variable for income distribution, in order to test in what...

The purpose of this paper is to review the literature on the determinants of the exchange‐rate by examining the flow theory approach, purchasing power parity theory, the monetary approach and the assets market approach.

The increasing importance of women as participants in the labor force during the last few decades has led to an increasing amount of research effort to identify, measure, and explain male‐female wage differentials (see, for example, Sanborn, 1964; Bayer and Astin, 1968; Fuchs, 1971; Cohen, 1971; Manche, 1971;...

The market equilibrium model predicts that the supply and demand schedules of labor to an industry will cross at a level at which labor receives the value of its marginal product as contributed to the output produced. The imposition of an effective minimum wage in that industry creates a price...

In 1938, the Civil Aeronautics Board (CAB) was established to regulate the fare and route structures of the domestic airline industry. At that time, policy‐makers were fearful that free market conditions in the airline industry would not foster the growth which was deemed to be optimal in the...