This paper analyzes the stability of foreign trade, currency markets and international portfolio balances with the help of a model which captures the interactions between current account balances and the international asset portfolios for domestic and foreign investors. The model is used for...

This paper addresses the issue of international payments in a stock-flow framework, by capturing the interaction between the current account balance and international assets portfolios of domestic and foreign investors. It is argued that the stability of such interactions may be affected by...

Macroeconomic Modelling has undergone radical changes in the last few years. There has been considerable innovation in developing robust solution techniques for the new breed of increasingly complex models. Similarly there has been a growing consensus on their long run and dynamic properties, as...

I: Expectations -- 1. Optimal Stabilisation Policies under Perfect Foresight -- 2. Towards the Resurrection of Macroeconomic Policies -- 3. Optimal Feedback and Feedforward Stabilisation of Exchange Rates, Money, Prices and Output -- II: Uncertainty -- 4. Adaptive Econometric Forecasting using...