This article uses an open economy model to estimate, using cointegration and error-correction analysis, China's monetary policy reaction function for the period 1993 to 2003. Alternative inflation-forecast-based (IFB) policy Taylor-type rules for the interest rate are examined and their...

This paper uses cointegration and fractional cointegration techniques to test for purchasing power parity (PPP) between the Canadian and the US currencies during the floating exchange period from 1974:1 to 2001:12. The focus is on whether the deviations from the cointegrating relationship...

This article evaluates the plausibility of financial development as a tool to boost economic growth, using time series data on a cross-section of thirteen countries at different stages of development. Using annual data from 1960 to 2002, it conducts stationarity tests on the variables, followed...

This article tests long-run money neutrality and superneutrality for all South American economies from 1960 to 2009. Several of these economies have experienced bouts of hyperinflation. The tests, done for <italic>M1</italic> and <italic>M2</italic>, utilize Fisher and Seater's (1993) procedure. Money neutrality could not be...