Since the 1970s, there have been substantial financial reforms across the world, however little research has been devoted to studying the convergence path of these reforms. While Abiad and Mody (Am Econ Rev 95:66–88, <CitationRef CitationID="CR1">2005</CitationRef>) find that there is movement towards a global ‘norm’ of financial...</citationref>

Several authors have argued that if the labor share of income is used as the proxy for real marginal cost, then the sticky-price version of the New Keynesian Phillips Curve does a good job of approximating US inflation dynamics. However, this paper argues that the labor share is an inappropriate...

This article investigates the relationship between term limits and international conflict. Theories of political survival and diversionary war both imply term limits should play a role in international relations, whereas “permanent referendum theory,†largely motivated by work in...

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...

This paper examines the recent behavior of core inflation in the United States. We specify a simple Phillips curve based on the assumptions that inflation expectations are fully anchored at the Federal Reserve’s target, and that labor-market slack is captured by the level of short-term...

This paper examines the recent behavior of core inflation in the United States. We specify a simple Phillips curve based on the assumptions that inflation expectations are fully anchored at the Federal Reserve’s target, and that labor-market slack is captured by the level of shortterm...

One of the unofficial goals of the formation of the European Monetary Union (EMU) was to enable member nations to keep inflation at a low and stable rate, while minimising the costs associated with trying to reduce the rate of inflation. This paper seeks to examine whether the formation of EMU...

This paper measures sacrifice ratios for all countries in the world over an approximately forty year time period, in addition to exploring the determinants of worldwide sacrifice ratios. We test the most commonly-cited determinants: the speed of disinflation, openness, inflation targeting,...