We empirically study the impact of inflation targeting credibility on business cycle synchronization with G-7 economies. To do this, we use a sample of 15 inflation targeting countries to develop and calculate a reputation-based credibility measure for long- and short-term memory. By using...

The aim of this article is to examine the process of economic growth in the regions of Chile using a time series approach.In particular,we test the hypothesis of a unit root in the log of the ratios of per capita product between every possible pair taken from the 13 regions.The ‘acceptance’...

We propose a new approach for estimating a “hybrid” New Keynesian Phillips Curve (NKPC) that includes demand pressures coming from disequilibrium relations in three different markets: (1) monetary and financial, (2) international, and (3) labour. Econometric tests based on Chilean data...

This article examines the agency theory unit of analysis, which enjoys wide acceptance among academics and researchers. This theory holds that the agency problem materializes from signing the contract between the Principal and Agent. Here the contract is nothing more than a liturgy, a milestone,...

By using the Economic Sentiment Indicator and Autoregressive Markov Switching models, this paper provides an effective tool to identify and characterize expectations of business cycle phases for Germany, Spain, the Euro Area, and the European Union. This information is useful for policy makers...

We establish a nexus between migration flows and self-assessed happiness by proposing an empirical model that brings together the determinants of happiness proposed by psychology and the typical gravity variables from the economic migration literature. Taking this estimation net of the usual...