Exponential smoothing can introduce spurious auto-correlation in detrended data. The extent of this depends on the length of lag, the value of the smoothing parameter and the nature of the input process. The most widely-used version of exponential smoothing is the Hodrick-Prescott low-frequency...

This paper reviews the recent theoretical literature on collapsing exchange rate regimes. Using a combination of technique, intuition, and real-world observation, we discuss the literature's main insights, point out some unresolved questions and offer suggestions for future research. The survey...

This paper presents an analysis of the effect of bureaucratic corruption on economic growth through a public finance transmission channel. At the theoretical level, we develop a simple dynamic general equilibrium model in which financial intermediaries make portfolio decisions on behalf of...