In this article, we show how the concept of balance of payments-constrained growth rate developed by Thirlwall (1979) can be generalized as the growth rate constrained by the balance between any two economic variables. In particular, we derive two new concepts: the government balance-constrained...

In this note the saving-investment correlation is examined in terms of an error correction model, in order to gain some insight into the degree of capital mobility, using Spanish data for the period 1964-1994.

The paper presents the results of applying an indicator of local (daily) volatility, based on the literature on forecasting in nonlinear systems to six EMS currencies, using data for the period January 1974-April 1995.