The effects of monetary and fiscal policies on the level of economic activity in small open economies have generated much theoretical discussion over the years. However, no formal empirical analysis known to the authors has tested the effectiveness of these policies in the Caribbean economies....

In this paper the authors have investigated the response of exports in Morocco to exchange-rate volatility using the recently developed cointegration and error-correction techniques. In measuring volatility, many previous studies have used a moving-average standard-deviation. The authors argue...

The paper empirically analyzes the inflationary effects of exchange rate changes for the case of a small open economy, Malaysia, using recent econometric techniques of cointegration and vector error correction modeling. To evaluate the dynamic interactions among the variables in the model, we...

This study attemps to investigate the role of monetary aggregates as intermediate indicators in Nepal using the Johansen cointegration approach. The major aim of this paper is to determine the long-run relationship between income and money on the basis of the financial liberalization era of...