This paper evaluates out-of-sample exchange rate predictability of Taylor rule models, where the central bank sets the interest rate in response to inflation and either the output or the unemployment gap, for the euro/dollar exchange rate with real-time data before, during, and after the...

This paper investigates convergence patterns among 113 market economies. Incorporating different grouping methods, both ADF and KPSS tests are used to examine whether countries converge to the group average. The test results support the finding of a "convergence club," specifically, that the...