International Coordination of Macroeconomic Policies: Still Alive in the New Millennium?

International Coordination of Macroeconomic Policies: A Welfare Analysis

International Coordination in the Design of Macroeconomic Policy Rules

The paper examines international issues that arise in the design and evaluation of macroeconomic policy rules. It begins with a theoretical investigation of the effects of fiscal and monetary policy in a two-country rational expectations model with staggered wage and price setting and with perfect capital mobility. The results indicate that with the appropriate choice of policies and with flexi...

Beta Is Still Alive!∗

This paper investigates whether beta can predict the expected return after controlling for the beta instability resulting from shift in the covariance structure. Such a shift is driven by idiosyncratic volatility’s clientele effect: speculative investors prefer stocks with high idiosyncratic volatility. Consequently, these stocks tend to have low future returns from overpricing, and high beta b...

Is cardiac rehabilitation still relevant in the new millennium?

Cardiac rehabilitation is an evidence-based intervention which has evolved over time and incorporates physical, psycho-social and educational components with the aim of improving the patients' functioning following a cardiac event. The evidence base for cardiac rehabilitation following acute myocardial infarction has been growing over the past half a century. Individual randomized control trial...

Macroeconomic Policies and Growth

‘Is there some action a government of Australia could take that would lead the Australian economy to grow like Korea’s or Taiwan’s? If so, what, exactly? If not, what is it about the ‘nature of Australia’ that makes it so? The consequences for human welfare involved in questions like these are simply staggering: Once one starts to think about them, it is hard to think about anything else’ (With...