This paper investigates the effects of exchange rate regimes and alternative monetary policy rules for an emerging market economy that is subject to a volatile external environment in the form of shocks to world interest rates and the terms of trade. In particular, we highlight the impact of...

Although capital flows are closely monitored, surprisingly little is known about the accumulated stocks of foreign assets and liabilities held by various countries, especially in the developing world. This paper constructs estimates of foreign assets and liabilities and their equity and debt...

The WTO Ministerial Conference meeting in Seattle, USA in November/December 1999 failed to launch a further round of trade negotiations. However, negotiations on further liberalisation of agricultural trade were mandated in the Uruguay Round Agreement on Agriculture and must still be...

We study Russian job dynamics in transition using micro-level data sets from the December 1996 and June 1997 administrative records of firms in manufacturing, mining, trading and construction, for a pool of representative regions. We show that in 1997 small firms were the most successful at...

This paper analyses the rationale for restricting the international trade in art, namely protection of the national artistic patrimony. The meaning of national patrimony is analysed and rationales for state ownership and interventions in the art market analysed in light of the non-private...

In this paper we provide empirical evidence on the determinants of firm start-up size using data for the manufacturing sector in Ireland, and compare our results with recent findings for Portuguese manufacturing industries (Mata and Machado, 1996). To allow for firm heterogeneity between firm...

We model the growth and failure of small business in Irish Manufacturing during the period 1973-1994. We estimate the effect of start-up size on the employment growth while controlling for the business cycle, the life cycle and the probability of business survival, amongst other factors....