This study presents an analytical framework to examine the policy reaction function of a central bank in an open economy context while allowing for asymmetric preferences. The paper then empirically examines the policy rule obtained from this framework using quarterly data for the US, Canada,...

The P-star inflation model is based on the long-term quantity theory of money and puts together the long-term determinants of the price level and the short-run changes in current inflation. The P-star model-based indicator has replaced the previous monetary policy procedures in a number of...

The paper looks at the trends in nominal and real salaries of the FederalGovernment employees over the period 1990-2006. It examines the structural defects in the existing salary structure and the anomalies in the allowances structure to show that appropriate remuneration for the civil servants...