Eric V. Clifton

Eric V. Clifton
Private Practice · N/A

About

18
Publications
688
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157
Citations
Citations since 2017
0 Research Items
20 Citations
201720182019202020212022202302468
201720182019202020212022202302468
201720182019202020212022202302468
201720182019202020212022202302468

Publications

Publications (18)
Article
Empirical studies of the impact of geography and institutions on growth and development at the international level have become common place, but the high degree of abstraction at that level has led to calls for subnational studies. This paper examines these issues for a region of the United States, Appalachia, where the specific factors at play are...
Article
Full-text available
This paper examines the impact of the introduction of inflation targeting on the unemployment-inflation trade-off in OECD countries. Theoretical models suggest that the credibility-enhancing effects of the adoption of inflation targeting should cause an improvement in the unemployment-inflation trade-off, i.e., that reducing inflation by a given am...
Article
This paper examines the effects of an increase in the volatility of interest rates on Less Development Countries (LDCs). This examination is accomplished by modeling a representative LDC pursuing an optimal foreign borrowing program over a finite planning horizon. The results suggest that increased volatility may cause LDCs to increase their domest...
Article
Full-text available
Empirical studies of the impact of geography and institutions on growth and development at the international level have become common place, but the high degree of abstraction at that level has led to calls for subnational studies. This paper examines these issues for a region of the United States, Appalachia, where the specific factors at play are...
Article
This paper examines the role of exchange rate appreciation and the minimum wage in the relative decline of traditional sectors in Israel. It finds little evidence to indicate that real exchange rate appreciation is primarily responsible for this decline. Rather, the evidence indicates that slower productivity growth in traditional sectors has led t...
Article
Full-text available
This paper reviews Romania's experience with interenterprise arrears during 1991 with the purpose of extracting lessons that might prove useful for other economies in transition to market-based systems. The rapid growth of interenterprise arrears poses a serious policy problem in many of the transforming economies of Eastern Europe, as well as in t...
Article
Full-text available
This paper examines a real interest rate targeting procedure based on lagged inflation similar to the policy followed by the Brazilian monetary authorities during the period November 1986 to December 1988, focusing on the issue of the determinacy of the price level. For the specific model examined, the analysis suggests that such a targeting proced...
Article
Full-text available
The paper addresses the interaction between exchange rate appreciation and increased protection, specifically nontariff trade barriers, in terms of a two-stage process. In the first stage, an appreciating real exchange rate leads to increases in import penetration beyond what would typically accompany the normal growth of international trade. In th...
Article
This paper examines the effects of an increase in the volatility of interest rates on Less Development Countries (LDCs). This examination is accomplished by modeling a representative LDC pursuing an optimal foreign borrowing program over a finite planning horizon. The results suggest that increased volatility may cause LDCs to increase their domest...
Article
Modifying a traditional optimal growth model by using a maximin objective function and allowing the country to borrow from abroad is a useful process for examining the problems faced by LDC's. For example, an LDC's planners may realize the importance of long-term planning, but, because of the gravity of the country's current situation, be forced to...

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