This paper investigates the extent to which modern DSGE models, which feature local currency pricing, home bias, nontraded goods and incomplete markets, can generate nonlinear real exchange rate dynamics that are consistent with those found in the time series literature using data from the...

A simple procedure for the specification of the transition function describing the regime switch in nonlinear autoregressive models is proposed. This procedure is based on auxiliary regressions of unit root tests and is applicable to a variety of transition functions. In contrast to other...

This report makes some preliminary suggestions for actions to be taken by the international development community and the graduating countries to strengthen the process of preparing for graduation from the least developed country (LDC) category.The report also offers concrete proposals for...