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- Publications
- Influence
The Cyclical Behaviour of Fiscal Policy: Evidence from the OECD
- P. R. Lane
- Economics
- 1 December 2003
This paper addresses the topic of cyclicality in fiscal policy. In particular, we show that the level of cyclicality varies across spending categories and across OECD countries. In line with leading… Expand
The new open economy macroeconomics: a survey
- P. R. Lane
- Economics
- 1 August 2001
Since the 1995 publication of Obsteld and Rogoff's Redux model, there has been an outpouring of research on open-economy dynamic general equilibrium models that incorporate imperfect competition and… Expand
The Voracity Effect
- P. R. Lane, A. Tornell
- Economics
- 1 March 1999
The authors analyze an economy that lacks a strong legal-political institutional infrastructure and is populated by multiple powerful groups. Powerful groups dynamically interact via a fiscal process… Expand
The External Wealth of Nations Measures of Foreign Assets and Liabilities for Industrial and Developing Countries
- P. R. Lane, G. Milesi-Ferretti
- Economics, Business
- 1 August 1999
Abstract Although capital flows are closely monitored, surprisingly little is known about the accumulated stocks of foreign assets and liabilities held by various countries, especially in the… Expand
International Investment Patterns
- P. R. Lane, G. Milesi-Ferretti
- The Review of Economics and Statistics
- 1 July 2004
The paper provides a systematic analysis of bilateral, source and host factors driving portfolio equity investment across countries, using newly-released data on international equity holdings at the… Expand
Power, growth, and the voracity effect
- P. R. Lane, A. Tornell
- Economics
- 1 June 1996
Why is it that resource-rich countries tend to have lower growth rates than resource-poor countries? And why is it that many countries that enjoy terms-of-trade windfalls end up with lower growth… Expand
The External Wealth of Nations Mark II : Revised and Extended Estimates of Foreign Assets and Liabilities, 1970–2004
- P. R. Lane, G. Milesi-Ferretti
- Business
- 1 March 2006
We construct estimates of external assets and liabilities for 145 countries for the period 1970-2004. We describe our estimation methods and present key features of the data at the country and the… Expand
Inflation in open economies
- P. R. Lane
- Economics
- 1 May 1997
Abstract This paper relates the time-consistent inflation rate to the degree of trade openness of an economy. The mechanism linking the welfare effects of monetary surprises (and hence the incentives… Expand
The External Wealth of Nations; Measures of Foreign Assets and Liabilities for Industrial and Developing Countries
- G. Milesi-Ferretti, P. R. Lane
- Economics
- 1 August 1999
Capital flows are closely monitored, but surprisingly little is known about the stocks of external assets and liabilities held by countries, especially in the developing world. This paper constructs… Expand
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