Temple (2002) empirically challenges Romer's (1993) negative openness-inflation relation on empirical grounds. This article links economic openness to the slopes of aggregate supply (AS) and aggregate demand (AD) to explain why the openness-inflation relation can be ambiguous. Starting with a...

Monetary authorities commonly use interventions in foreign exchange markets to influence exchange rates. This paper uses Taiwan's data to show that how interventions respond to external shocks representing depreciation or appreciation pressures depends on other objectives of the monetary...

This paper identifies source(s) contributing to the recent international shift in monetary policy attitudes toward inflation. Data from 18 developed countries suggests that this shift is connected to the universal increase in policy responses to economic openness in the 1990s.

This paper demonstrates the potential problem in using existing economics journal rankings to evaluate the research productivity of scholars by constructing a new ranking of economics journals and articles. Based on 2142 econometrics sample articles published from 2000 to 2005, our ranking...

Using data from 1,217 publicly traded Chinese companies from 1994–2006, we show that the capital financing behavior of Chinese firms deviates substantially from the pecking order theory in that equity issues are always the preferred financing source for funding requirements. We further...