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Research

The Magic's Gone

RESEARCH - A hard look at the data shows that the famous NAIRU Phillips curve does no better at forecasting inflation than a simple look at the past. From 'The Region' published quarterly by the Federal Reserve Bank of Minneapolis, September 2001.

Basel Committee Working Paper

RESEARCH - Basel Committee on Banking Supervision. Working Paper on the regulatory treatment of operational risk. Bank for International Settlements, September 2001.

Big bang or gradualism in economic reforms

WORKING PAPER - IMF Working Paper written by Andrew Feltenstein and Saleh M Nsouli published August 2001. "Big Bang" Versus Gradualism in Economic Reforms: An Intertemporal Analysis with an Application to China.

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