This study exploits the relationship between savings and investment implied by a country's intertemporal budget constraint to measure the degree of capital mobility. In particular, if savings and investment are cointegrated, there is an error correction model which describes the shortrun dynamic...

In recent years, the Chinese economy has grown dramatically largely as a result of China's commitment to open up its economy to the rest of the world and adopt more market-oriented policies. How ASEAN-China economic relations develop depends on many factors including the ability of either or...

This study attempts to relate the level of output to the variability of monomial and real shocks. Expectations are assumed to be formed rationally and Mishkin's (1983) empirical methodology is used. The results obtained using Japanese data for the January 1970 to December 1974 period show that...

This study suggests that the bureaucratic perspective provide a framework compared with the public interest perspective from which to interpret the behavior of the FED and the Treasury in the 1930s and 1940s. It also applies some basic tenets of monetary theory to refute the assertions of some...

This study examines the relationship between various monetary aggregates and real income, the 91-day Treasury bill rate, and the nominal exchange rate using the Engle and Granger cointegration method. The idea is that the choice for a monetary target should be controllable by the Central Bank...

This study investigates whether exogenous shocks and/or economic reform programs such as the financial liberalization program of the early '80s resulted in changes in the dynamic equilibrium relationships among money, output, prices, and in some cases, interest rates. Cointegrating vectors for...