This paper reviews recent trends in exchange rate modelling with a view toward assessing new claims that macroeconomic variables are useful for explaining exchange rates. The application to co-integration techniques and the use of larger datasets have led to more empirical evidence in favour of both
We investigate the influence of institutional arrangements on inflation in 18 OECD countries. The factors considered are, on the hand institutional constraints on monetary policy such as the independence of the Central Bank and commitment to fixed exchange rates and on the other political factors su
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