[eng] This paper analyzes how monetary and fiscal policy rules can achieve macroeconomic stabilization in a two-country model of an economic and monetary union. Three specific factors play a role in absorbing the effects of macroeconomic shocks : (i) the degree of flexibility of economic-policy...

In this article we propose an econometric approach that steers clear of parameter heterogeneity, omitted variable bias and endogeneity problems, from which suffers the econometric analysis of economic growth. We propose to investigate the relation between income inequality and economic growth in...

On 17 August 1998 the Russian authorities devalued the ruble, suspended repayments of ruble-denominated government paper and announced a moratorium on the Russian foreign debt. By doing so the government brought the domestic banking sector to the edge of bankruptcy and risked losing the little...

Economic sentiment indicators can provide a wealth of information for macroeconomic policy formulation and analysis. Despite this, economic sentiment is often neglected by mainstream economics. This article assesses whether there is a potential role for economic sentiment to amplify business...