• One Money, Many Countries: Monitoring the European Central Bank 2
  The second of the MECB reports reviews the issues faced by the ECB in its first year of operation, focussing on transparency and accountability, and the supervision of financial institutions. The report argues that, despite its efforts, the ECB is not fully transparent and the absence of a centralized institution means that the ECB may not have the information that it would need in case of a systemic crisis.

• MECB Update: June 2000
  The exchange rate has gradually emerged as a key challenge for the ECB and the second of CEPR’s annual MECB updates focuses on the current weakness of the euro on the foreign exchange market. Four leading researchers review six possible explanations for the currency’s fall.

• MECB Update: May 1999
  A full MECB report is published each Autumn, complemented by a Spring update - this is the first MECB Update, the authors assess how well the ECB has tackled the challenges it faced. They conclude that the ECB has avoided many of the dogmatic positions into which it may have fallen and has proved open to ideas and suggestions.

• CEPR Policy Paper No. 1: Alice in Euroland 
  The legal framework, institutional arrangements and emerging operating practices of the ECB/ESCB are flawed and in urgent need of modification. In the first title in CEPR's Policy Paper series, Willem H Buiter discusses this issue in depth and makes his own recommendations for change within the ECB/ESCB.

• CEPR Policy Paper No. 2: The Eurosystem: Transparent and Accountable or Willem in Euroland
  This paper responds to some of the questions raised by Willem Buiter in his article 'Alice in Euroland' (CEPR Policy Paper No. 1). In his reply, Issing states that monetary policy-makers, like anybody else, have to filter, process and structure relevant information and interpret it on the basis of a coherent frame of reasoning.

• Monitoring the European Central Bank
  CEPR has recognized the need for a regular examination of ECB policies from a pan-European perspective.

• Establishing a Central Bank
  Issues in Europe and Lessons from the US - This conference Volume discusses the exact division of responsibilities of national governments and the ECB

• RGEMonitor's site on European Monetary Union and the Euro

Search the entire site for research on The ECB and the Euro by using the search box above or click for CEPR Discussion Papers that contain the keyword ECB, or all Papers that have ECB in the title.

• An Independent and Accountable IMF: Geneva Reports on the World Economy 1
  The continuous blurring of roles between the IMF and the World Bank is fraught with dangers; both institutions must redefine their functions. This report presents a detailed proposal for a new IMF, insisting on accountability and governance.  

• Can the Moral Hazard Caused by IMF Bailouts be Reduced? Geneva Reports on the World Economy Special Report 1
  In this first 'Special Report' in the ICMB/CEPR series of Geneva Reports on the World Economy, Barry Eichengreen argues that any solution to the problem of private sector participation in financial crises must change the institutional arrangements governing international financial transactions.  

• The World Bank: Policies and Structures
  Produced in conjunction with the ‘Global Economic Institutions’ research programme, this conference volume argues that the Bank organizes itself around the concept of a ‘knowledge bank’: a shift away from lending with conditionality, towards assisting governments in devising good development strategies.

• Policy paper No.4: Putting ‘Humpty’ Together Again: Including developing Countries in a Consensus for the WTO
  Zhen Kun Wang and Alan Winters present an eight-point plan that they believe will bind the developing countries more securely into the world’s trading system.

• RGE Monitor's Macroeconomic and Financial Policy Site
  

Search the entire site for research on The ECB and the Euro by using the search box above or click for CEPR Discussion Papers that contain the keyword IMF, World Bank or WTO, or all Papers that have IMF, World Bank or WTO in the title.

• CEPR Policy Paper 5. EMU and Portfolio Adjustment
  The advent of the euro is a significant event for portfolio managers, both within and outside the Monetary Union. The euro will affect portfolio decisions through a variety of channels and the emergence of a single currency marks the disappearance of explicit and psychological barriers to international investing.

• Monitoring European Integration - 9
  The Future of European Banking, investigates the Impact of EMU on European Banking and analyses what lies behind the historic segmentation of EU financial markets because a clear view about these issues is needed to predict the changes that EMU will bring about.

• Monitoring European Integration - 7
  EMU - Getting the End Game Right argues that the final stage of transition to EMU remains poorly understood, that many extant proposals have fatal flaws, and that finding a safer transition strategy is matter of urgent priority.

• Monitoring European Integration - 2
  The Making of Monetary Union - This report examines the monetary unification of Europe and the creation of a European Central Bank

• Strauss Kahn - European Economic Perspectives
  A downloadable copy of Dominique Strauss-Kahn's address on the occasion of CEPR's 15^th Anniversary is available in PDF format.

• European Economic Perspectives - Special Issue September 1998
  CEPR has played a pioneering role in research on European economic and monetary union (EMU), in this special issue CEPR research analyses the early challenges facing EMU.

• Occasional Paper 17
  This Paper analyses in some detail the monetary and fiscal stance of the EMU.

• The Ostrich and the EMU
  Is the first thorough assessment of the practical implications, rather than the desirability of EMU

• Sustainability of Public Finance
  The authors of this report propose a practical procedure to assess the sustainability of a country's public finances.

• RGE Monitor's site on European Monetary Union and the Euro

Search the entire site for research on European Monetary Union by using the search box above or click for CEPR Discussion Papers that contain the keyword EMU, or all Papers that have EMU in the title.

• The Asian Financial Crises: Consequences and Contagion
  This volume presents the first analysis, both theoretical and empirical, of the Asian Financial Crisis. Part One presents a factual and analytic overview of what happened, Part Two considers more detailed issues and Part Three assesses the many aspects of contagion.

• Crisis What Crisis? Orderly Workouts for Sovereign Debtors
  The authors of this report discuss the Mexican Crisis of 1994/5 and offer an agenda for reform.

• Financial Crises and Asia
  A report that addresses the important lesson that can be learnt from the recent events in Asia

• Threats to International Financial Stability
  This book examines the anatomy and propagation of international financial crisis, and assesses the adequacy of current regulatory and supervisory changes, and suggests measures that would help to avoid or contain financial crises.

• An Independent and Accountable IMF: Geneva Reports on the World Economy 1
  The continuous blurring of roles between the IMF and the World Bank is fraught with dangers; both institutions must redefine their functions. The answer is not an international lender of last resort. The report will present a detailed proposal for a new IMF, insisting on accountability and governance.

Search the entire site for research on Global Financial Crises Asia by using the search box above or click for CEPR Discussion Papers that contain the keywords Financial Crises or Asia, or all Papers that have Financial Crises or Asia in the title.

• Asset Prices and Central Bank Policy: Geneva Reports on the World Economy 2
  The second title in the ICMB/CEPR series of ‘Geneva Reports on the World Economy’ addresses the questions of how central banks should view movements in equity, housing and foreign exchange markets. The report concludes, somewhat controversially, that central banks should assign a greater role to asset prices in their decisions over interest rates.

• Asset Prices and Monetary Policy
  This volume collects the views of several prominent scholars and central bankers on whether and how asset price developments can be incorporated in the design of monetary policy.

• Inflation Targets
  Since 1989, a number of countries have adopted explicit quantitive inflation targets to reduce and control inflation. This book examines the countries who have adopted explicit regimes and compares them with less explicit examples.

• Independent and Accountable: A New Mandate for the Bank of England
  Examines proposals for changing the Bank of England's Mandate and it's relationship with the treasury.

• Monitoring the European Central Bank
  CEPR has recognized the need for a regular examination of ECB policies from a pan-European perspective

Search the entire site for research on Globalization, Regionalism and Trade by using the Search box or click here for CEPR Discussion Papers that contain the keywords Monetary, Policy or Monetary Policy or all Papers that have Monetary, Policy or Monetary Policy in the title.

• Monitoring European Integration 10: 
  Integration and the Regions of Europe: How the Right Policies Can Prevent Polarization
  European integration will increase the incentives for regional specialization of economic activity. Will this lead to a polarised Europe, in which some regions buzz with activity while others decline? The central message of the tenth MEI report is that polarization is not inevitable: growth and cohesion are not necessarily enemies. Unless misguided policies determine otherwise, they are allies.

• Towards an Integrated Europe
  The author assesses the alternative paths towards European economic and political integration.

• New Dimensions in Regional Integration
  In this book leading international experts assess the renewed attractiveness of regional integration to individual countries.

• Special European Economic Perspectives on Regional Policy and Geography
  What future for the regions of Europe as the continent pursues ‘ever closer union’? This article on their prospects explores the ‘new economic geography’ and its attempts to explain industrial location and the origins of inequalities between regions.

• The Location of Economic Activity
  Many of the best researchers from around the world, took part in a CEPR conference in 1993, to discuss issues within the locational and regional economics field. This book contains the papers presented at the conference.

• Market Integration, Regionalism and the Global Economy
  The collection of papers in this volume are drawn from the final conference of CEPR’s programme of research on ‘Market Integration, Regionalism, and the Global Economy’ (MIRAGE). The objective of this research was to use new techniques of economic analysis to study changes in the global economy in relationship to the process of regional integration, and to draw out the policy implications of such changes.

• Dynamic Issues in Applied Commercial Policy Analysis
  The book examines dynamic aspects of international trade and investment policy, with contributions from leading international economists. Emphasis is placed on methods for the analysis of interactions between commercial policy and leading policy issues like investment performance, economic growth and innovation, the location of industry, migration, and the environment.

Search the entire site for research on Globalization, Regionalism and Trade by using the Search box or click here for CEPR Discussion Papers that contain the keywords Globalization, Regionalism or Trade or all Papers that have Globalization, Regionalism or Trade in the title.

• Stuck in Transit: Rethinking Russian Economic Reform.
  This report explores the events of August 1998, their underlying causes and the deep flaws they exposed in the process of reform. Drawing on a series of major new research programmes at the Russian European Centre for Economic Policy (RECEP) in Moscow, the report discusses the policy options for rebuilding the Russian economy.

• Hungary: Towards a Market Economy
  The volume follows the evolution of the Hungarian economy once the dust of the initial shock which swept Central and Eastern Europe had begun to settle.

• Foundations of an Open Economy: Trade Laws and Institutions for Eastern Europe
  This book looiks directly at the way international trade policy in the CEECs has evolved under the Europe Agreements and at how trade policy institutions may be designed.

• European Union Trade with Eastern Europe: Adjustment and Opportunities
  This volume discusses the benefits to the Union of a free trade regime with the CEEC's.

• Tax and Benefit Reform in Central and Eastern Europe
  This book takes stock of the first 5 years of fiscal reform in the Central and Eastern European Countries.

• Banking Sector Development in Central and Eastern Europe.
  Economic Policy Initiative Forum Report No. 1
  This first Forum Report of the Economic Policy Initiative provides an assessment of banking sector developments in Central and Eastern Europe and identifies the critical policy choices that will determine whether or not a country is to follow a high growth path leading to convergence with the mainstream of Western Europe.

• Mediating the Transition: Labour Markets in Central & Eastern Europe. Economic Policy Intiative Forum Report No. 4
  This is a concise yet comprehensive account of the labour market issues facing CEE countries as the transformation proceeds and they negotiate their entry into the EU.

• Monetary and Exchange Rate Policies, EMU and Central and Eastern Europe. Economic Policy Initiative Forum Report No. 5, David Begg, László Halpern, Charles Wyplosz
  The continuing global crisis, in which countries on several continents have experienced banking crisis and speculative attacks on their exchange rates, reinforces the need for Europe's transition economies to find a robust strategy for macroeconomic policy in the period leading up to accession and in preparation for joining EMU. The authors of the fifth Forum Report of the Economic Policy Initiative examine the main issues that will need to be resolved along the way.

Search the entire site for research on Transition by using the search box or click here for CEPR Discussion Papers that contain the keyword Transition or all Papers that have Transition in the title.

• CEPR Policy Paper 5. EMU and Portfolio Adjustment
  The advent of the euro is a significant event for portfolio managers, both within and outside the Monetary Union. The euro will affect portfolio decisions through a variety of channels and the emergence of a single currency marks the disappearance of explicit and psychological barriers to international investing.

• Monitoring European Integration - 9
  The Future of European Banking, investigates the Impact of EMU on European Banking and analyses what lies behind the historic segmentation of EU financial markets because a clear view about these issues is needed to predict the changes that EMU will bring about.

• Monitoring European Integration - 6
  The report titled - Flexible Integration: Towards a More Effective and Democratic Europe argues for significant economic, political and legal reforms of the Union to meet the challenges it faces.

• Monitoring European Integration 3 -
  Is Bigger Better? The Economics of EU Enlargement, examines the enlargement of the European Community to include the EFTA members and the Central and Eastern European Countries (CEECs).

• Trade Flows and Trade Policy After 1992
  This volume offers a major re-appraisal of the effect of completing the EC's single market programme on trade among EC member states and also on the Community's external trade

• Towards an Integrated Europe
  The insights and challenge Richard Baldwin puts forward for a more positive and consistent approach to the architecture of Europe.

• Banking Sector Development in Central and Eastern Europe.
  Economic Policy Initiative Forum Report No. 1
  This first Forum Report of the Economic Policy Initiative provides an assessment of banking sector developments in Central and Eastern Europe and identifies the critical policy choices that will determine whether or not a country is to follow a high growth path leading to convergence with the mainstream of Western Europe.

• Mediating the Transition: Labour Markets in Central & Eastern Europe. Economic Policy Intiative Forum Report No. 4
  This is a concise yet comprehensive account of the labour market issues facing CEE countries as the transformation proceeds and they negotiate their entry into the EU.

• Monetary and Exchange Rate Policies, EMU and Central and Eastern Europe. Economic Policy Initiative Forum Report No. 5, David Begg, László Halpern, Charles Wyplosz
  The continuing global crisis, in which countries on several continents have experienced banking crisis and speculative attacks on their exchange rates, reinforces the need for Europe's transition economies to find a robust strategy for macroeconomic policy in the period leading up to accession and in preparation for joining EMU. The authors of the fifth Forum Report of the Economic Policy Initiative examine the main issues that will need to be resolved along the way.

Search the entire site for research on Economic Integration, EU Enlargement and The Single market by using the search box or click for CEPR Discussion Papers that contain the keywords Integration, Enlargement or Single Market or search for Papers that have Integration, Enlargement or Single Market in the title.

• Economic Growth in Europe since 1945
  This volume re-examines the topic of economic growth in Europe after the Second World War

• Quantitive Aspects of Post-war European Economic Growth
  This volume explores the catch-up and convergence evidence on European growth on a cross-sectional basis.

Search the entire site for research on Growth and Fluctuations by using the search box or click for CEPR Discussion Papers that contain the keywords Growth or Fluctuation or Papers that have Growth or Fluctuation in the title.

• Trawling for Minnows: European Competition Policy and Agreements between Firms
  This report examines the policy of the European Union towards agreements between firms from three perspectives.

• Competition Policy and the Transformation of Central and Eastern Europe
  This book examines the implementation of competition policy during the 1990s in Hungary, Poland and the Czech and Slovak Republics.

• Merger in Daylight: The Economics and Politics of European Merger Control
  This is the first independent review of the EC Merger regulation and has wide implications for other issues such as regulatory capture and transparency

Search the entire site for research on European Competition Policy by using the search box or click for CEPR Discussion Papers that contain the keywords European Competition Policy or Papers that have European Competition Policy in the title.

• CEPR Policy Paper 5. EMU and Portfolio Adjustment
  The advent of the euro is a significant event for portfolio managers, both within and outside the Monetary Union. The euro will affect portfolio decisions through a variety of channels and the emergence of a single currency marks the disappearance of explicit and psychological barriers to international investing.

• Monitoring European Integration - 9
  The Future of European Banking, investigates the Impact of EMU on European Banking and analyses what lies behind the historic segmentation of EU financial markets because a clear view about these issues is needed to predict the changes that EMU will bring about.

• Monitoring the European Central Bank
  CEPR has recognized the need for a regular examination of ECB policies from a pan-European perspective.

• The first Forum Report of the Economic Policy Initiative
  Banking Sector Development in Central and Eastern Europe discusses issues that will be important as these countries attempt to negotiate their entry in the European Union.

• Asset Prices and Monetary Policy
  This volume collects the views of several prominent scholars and central bankers on whether and how asset price developments can be incorporated in the design of monetary policy.

Search the entire site for research on European Financial Markets by using the search box or click here forCEPR Discussion Papers that contain the keywords European Financial Markets or Papers that have European Financial Markets in the title.

• Monitoring European Integration 8
  Social Europe: One for All? Provides a detailed analysis of European labour markets and sets out specific recommendations for the design and implementation of social policies within the EU.

• Monitoring European Integration 5
  Unemployment: Choices for Europe analyses unemployment and reviews the many policy choices that have been proposed.

• Mediating the Transition: Labour Markets in Central & Eastern Europe.
  Economic Policy Intiative Forum Report No. 4
  This is a concise yet comprehensive account of the labour market issues facing CEE countries as the transformation proceeds and they negotiate their entry into the EU.

• Unemployment Policy: Government Options for the Labour Market
  There is substantial disagreement among policy-makers about how governments should respond to the problem of high unemployment. This book attempts to provide a balanced assessment of the various policy options.

• Acquiring Skills: Market Failures, Their Symptoms and Policy Responses
  This book provides a systematic account of the causes, consequences and policy implications of failure in training provision and skills acquisition in the industrial world.

Search the entire site for research on Labour Markets by using the search box or click for CEPR Discussion Papers that contain the keywords Labour Market or Papers that have Labour Market in the title.

• Monitoring European Deregulation - Report One
  In Europe's Network Industries: Conflicting Priorities (Telecommunications) the authors explore ten conflicting priorities that European policy-makers face in defining an appropriate competition and regulatory policy framework for the network industries.

• Monitoring European Deregulation - Report Two
  Competition and Regulation in the European Electricity Industry. The second Monitoring European Deregulation Report explores the obstacles to a single European market for electricity, examining the policy choices facing the regulators at both national and EU levels. The Report combines analyses of key issues in electricity market integration and liberalization with evaluations of practical experiences in the UK, Nordic countries, Germany, Spain, France and Hungary.

Search the entire site for research on Regulation of European network industries by using the Search box or click for CEPR Discussion Papers that contain the keywords Regulation or Papers that have Regulation in the title.