This article investigates the relationship between term limits and international conflict. Theories of political survival and diversionary war both imply term limits should play a role in international relations, whereas “permanent referendum theory,†largely motivated by work in...

During the past two decades, a growing body of research has explored the implications of increased trade and financial openness for the relationship between output and inflation. This paper reviews proposed theoretical channels through which the degree of openness might ultimately affect the...

This paper examines the recent behavior of core inflation in the United States. We specify a simple Phillips curve based on the assumptions that inflation expectations are fully anchored at the Federal Reserve’s target, and that labor-market slack is captured by the level of short-term...