This study reviews broadly the experience of the last decade on crisis prevention and
management. It seeks to draw greater attention to policy decisions that are made during the …

This paper assesses the global spillovers from identified US monetary policy shocks in a
global VAR model. US monetary policy generates sizable output spillovers to the rest of the …

The global financial crisis triggered severe shocks for developing countries, whose embrace
of greater commercial and financial openness has increased their exposure to external …

The vast empirical exchange rate literature finds the effect of exchange rate volatility on real
activity to be small or insignificant. In contrast, this paper offers empirical evidence that real …

This paper examines the impact of exchange rate volatility on economic growth. An
empirical investigation based on a sample of 45 developing and emerging countries over …

First published in 2007. Exchange Rate Economics: Theories and Evidence is the second
edition of Floating Exchange Rates: Theories and Evidence, and builds on the successful …

We study the relationship between exchange rate regimes and economic growth for a
sample of 183 countries over the post-Bretton Woods period, using a new de facto …

Commodity prices are back, with a vengeance. In the 1970s, macroeconomic discussions
were dominated by the oil price shocks and other rises in agricultural and mineral products …

The real exchange rate was not at the center of the first generation neoclassical growth
models, nor was it prominent among the polic prescriptions that flowed from those models …

This paper seeks to assess the impact of oil price shock and real exchange rate volatility on
real economic growth in Nigeria on the basis of quarterly data from 1986Q1 to 2007Q4. The …