We test a simple model of exchange rate regime choice with data for non-OECD countries covering the period 1980-94. We find the variance of output at home and in potential target countries as well as the correlation between home and foreign real activity are powerful and robust predictors of...

The authors argue that in modelling cross-country growth models one should first identify so-called outlying observations. For the data set of Sali-i-Martin, they use the least median of squares (LMS) estimator to identify outliers. As LMS is not suited for inference, they then use reweighted...

In seiner neuesten Konjunkturprognose geht das ifo Institut davon aus, dass die konjunkturelle Lage in Deutschland nach wie vor von großer Labilität geprägt und die Erholung nicht gefestigt ist. Trotz alledem deuten die bisher vorliegenden Indikatoren darauf hin, dass sich die begonnene...