This paper re-examines the findings of Alogoskoufis and Smith (1991), who argue that sharp increases in inflation persistence can be attributed to changes in the exchange rate regime. Using long time series data from the United Kingdom, the United States, Canada and Sweden, we suggest that these...

This paper re-examines the findings of Alogoskoufis and Smith (1991), who argue that sharp increases in inflation persistence can be attributed to changes in the exchange rate regime. Using long time series data from the United Kingdom, the United States, Canada and Sweden, we suggest that these...

Hypothetical revenue-neutral tax reforms are conducted in a calibrated endogenous growth model in which money serves to economize on the time-costs of transacting. The model includes the cash-in-advance (CIA) and non-monetary frameworks as special cases of the parameterization. The results of...

Logit models of leadership duration test whether different agents are responsible for constitutional and unconstitutional transfers of power. Lagged values of per capita real investment have a significantly negative impact on unconstitutional transitions. This suggests that the elites of less...