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Journal Article
Beyond the border: Japan's economy still looks recessionary
Journal Article
U.S. inflation and the international economy
Journal Article
NAFTA: capstone and cornerstone
Journal Article
Interpreting central bank independence in Mexico
Working Paper
Capital account liberalization and disinflation in the 1990s
This paper addresses the potential link between two relatively surprising international economic trends of the 1990s. The first is global disinflation. Why did inflation fall so quickly, even in countries with long histories of high inflation? Latin America?s average inflation rate, for example, fell from over 400% in 1990 to under 10% in 1999. A second puzzle is why so many countries opened their capital accounts in the 1990s, despite warnings regarding the risk of currency and banking crises. Are these two developments related? Does capital account liberalization facilitate disinflation by ...
Journal Article
Interstate shifts in nonresidential construction
Journal Article
The Mexican economy snaps back