This paper investigates the exchange rate pass-through in 12 developing countries during the period 1980-2001 by adopting a new formulation. Rather than considering the traditional approach based on the exogenous exchange rate movement through correlation between exchange rate and prices, we...

Financial innovation is widely believed to be at least partly responsible for the recent financial crisis. At the same time, there are empirical and theoretical arguments that support the view that changes in financial markets played a role in the "great moderation". If both are true, then the...

This article examines the short- and long-run causal relationship between energy consumption and GDP of six emerging economies of Asia. Based on cointegration and vector error correction modeling the empirical results show that there exists a unidirectional shortand long-run causality running...

The Global Correspondence Principle of Samuelson states that global comparative static results hold even in the absence of an initial stable equilibrium. This principle has been applied in recent studies of international trade with variable returns to scale to resolve paradoxical results with...

The apparent divergence between producer and retail prices in the presence of a marketing chain is a common facet in agricultural industries. There is evidence to suggest that changes in producer prices are not passed on fully to changes in retail price, especially in the situation where...