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Twin Deficits, Real Interest Rates and International Capital Mobility
(National University of Ireland, Galway, 2000)
We argue that the interactions among the current account and budget balances and the real interest rate can provide more information about the effective degree of financial openness of an economy than simple saving-investment ...
The Relationship between Inflation and Inflation Uncertainty in the UK: 1885-1998
(National University of Ireland, Galway, 2000)
Using a long series of UK inflation data, I have provided strong evidence in favour of the hypothesis that inflationary periods are associated with high inflation uncertainty. This result supports the Friedman-Ball hypothesis ...
A GARCH Model of Inflation and Inflation Uncertainty with Simultaneous Feedback
(National University of Ireland, Galway, 2000)
We examine the relationship between inflation and inflation uncertainty using a GARCH model that allows for simultaneous feedback between the conditional mean and variance of inflation. We also derive a number of theoretical ...
Does the Exchange Rate Regime Affect Export Volumes? Evidence from Bilateral Exports in the US-UK trade: 1900-1998
(National University of Ireland, Galway, 2000)
By utilizing the techniques of multivariate cointegration and error correction models, we investigate the impact of the different exchange-rate regimes that spanned the 20th century on the bilateral exports between the UK ...