Within the New Consensus Macroeconomics, monetary policy is upgraded while fiscal policy is downgraded. This new monetary policy has been the main instrument of policy under the guise of inflation targeting, an approach pursued by a number of central banks worldwide. This book raises problems...

This book gives a comprehensive description of macroeconometric modeling and its development over time. The first part depicts the history of macroeconometric model building, starting with Jan Tinbergen's and Lawrence R. Klein's contributions. It is unique in summarizing the development and...

A Theoretical Framework -- Specifications and Assumptions -- Underlying Equilibrium Growth Paths -- Variations in Employment -- Some Important Implications -- Exchange Rate Overshooting -- Exchange Rate Determination -- Issues Regarding Exchange Rate Determination -- Time Series Properties of...

This contribution applies the cointegrated vector autoregressive (CVAR) model to analyze the long-run behavior and short-run dynamics of stock markets across five developed and three emerging economies. The main objective is to check whether liquidity conditions play an important role in stock...

Preface -- Chapter 1 Opening Address -- Chapter 2 What Makes an Exchange a Unique Institution? -- Chapter 3 Mid-Day Address -- Chapter 4 Competitive Challenges in the Marketplace -- Chapter 5 Wherein lie the Growth Opportunities? -- Chapter 6 IPO Capital Raising in the Global Economy -- Chapter...

This book provides a study on the impact of Brexit on international competitiveness and in doing so, presents a theoretical account of regional disintegration. In recent decades, the theory of regional economic integration has expanded following growing integration processes taking place not...

This volume presents a critical examination of the EMU from different perspectives. It includes essays on the political economy of currency unions, on the Growth and Stability pact, the European Central Bank, an evaluation of the first four years of the EMU, and the costs and benefits for Sweden...

Part I: US Growth Policies in the Election Year -- Part II: Assessing the Impact of Labor Market Reforms -- Part III: Imbalances, Tensions and Possible Readjustments: Evidence from Intertemporal Accounting and the Financial Accounts -- Part IV: G20, Global Governance and Regional Integration --...