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...

The issue of whether the UK should join the European single currency has been fiercely debated for the past two decades. However little research has been devoted to forecasting hypothetical projections for important UK economic variables, assuming that the UK had in fact joined the euro at its...