… GEOFFREY WOGLOM is professor of economics at Amherst College. … Previous work by
some of us (Goldstein and Woglom 1992) and the literature on the interest rates on state bonds (…

It is widely accepted that participation in a currency union is inconsistent with independence
in the conduct of monetary policy. Indeed, in the ongoing discussions about the path to …

We build a small open economy New Keynesian dynamic stochastic general equilibrium
model for South Africa similar to Steinbach et al. We abandon their assumption of complete risk …

We construct a small open‐economy New Keynesian dynamic stochastic general equilibrium
(DSGE) model for South Africa with nominal rigidities, incomplete international risk sharing …

The concept of market-based fiscal discipline posits that a government which runs persistent,
excessive fiscal deficits will face an increased cost of borrowing and eventually, a reduced …

We estimate a New Keynesian small open economy DSGE model for South Africa, using
Bayesian techniques. The model features imperfect competition, incomplete asset markets, …

In this paper I use some recent work in the microeconomics of imperfect information to construct
a macro model. The microeconomic theory suggests that atomistically competitive firms …

I. Rational expectations and the optimal monetary instrument, 92.—II. The Fed's advantage
in stabilizing the economy when the private sector has the same information, 96.—III …

sample size. The IV error can be written as (3) w= bIv-/3= mzl/ml> zx = mz11/(, ymzz+ mz,,)=
rtz/(ly+ rL, z). rkZ is a regression coefficient (= MZk/mZZ), rkZ N (O, oQk2/mzzT) for k= u or v. …

This paper analyzes the effect on a company's stock price when it is added to the S&P 500
Index. A simple theoretical model is developed to show how trading effects and changes to …