· Highlights of this issue

· The European Monetary System

· Strategic Trade Policy - New Empirical Results

The following Workshops were discussed in this issue:

· Male/Female Differences in the British Labour Market

· New Conservative Policies - Permanent Revolution?

· Anglo/French Colloquium - Financial Innovation

The following Lunchtime Meetings were discussed in this issue:

· US Budget Deficit Reduction - Don't Overdo It

· LDC Debt Relief - An End to Muddling Through

· UK Public Expenditure - Painting the Whole Picture

· US Trade Deficit - The Fall Guy

· European Internal Market - Subsidies More Costly than Ever?

· LDC Adjustment Programmes - Distributive Effects

· Profit Sharing - Historical Evidence Ignored

· Global Macroeconomics: Policy Conflict and Cooperation - Edited by Ralph C Bryant and Richard Portes

The following Discussion Papers were discussed in this issue:

· The Structured Dependency of the Elderly: A Critical Note by Paul Johnson

· Savings Behaviour, Fertility and Economic Development in Nineteenth Century Britain and America by Paul Johnson

· Profit Sharing in British Industry, 1865-1913 by Timothy J Hatton

· Monetary and Fiscal Policy in a `Hartian' Model of Imperfect Competition by Neil Rankin

· Perfect Equilibrium in a Competitive Model of Arms Accumulation by Frederick van der Ploeg and Art J de Zeeuw

· Unemployment in Interwar Britain: Dole or Doldrums? by Barry Eichengreen

· The Cash Opportunity of Childbearing: An Approach Using British Data by Heather Joshi

· Determinants of the Equilibrium Real Exchange Rate by J Peter Neary

· The Current Global Economic Situation, Outlook and Policy Options, with Special Emphasis on Fiscal Policy Issues by Willem H Buiter

· Leaving Home and Living Alone: An Historical Perspective by Howard J Wall

· Till Debt Do Us Part: The US Capital Market and Foreign Lending, 1920-1955 by Barry Eichengreen

· Econometric Modelling of the Birth Rate by Eric de Cooman, John F Ermisch and Heather Joshi

· On Optimal World Stabilization and the Target Zones Proposal by George S Alogoskoufis

· Competitiveness, Wage Adjustment and Macroeconomic Policy in a Small Open Economy by George S Alogoskoufis

· The EMS, The Dollar and the Yen by Rudiger Dornbusch

· International Interdependence and Policy Coordination in Economies with Real and Nominal Wage Rigidity by Frederick van der Ploeg

· Optimum Trade Policy Towards Imperfectly Competitive Industries: Two Norwegian Examples by Sonya Daltung, Gunnar Eskeland and Victor D Norman

· Monetary Discipline and Cooperation in the European Monetary System: A Synthesis by Jacques Mélitz

· On Optimal Stabilization Policy and Nominal Income Targets in an Open Economy by George S Alogoskoufis

· Evaluating the Extended Target Zones Proposal for the G3 by David Currie and Simon Wren-Lewis

· Completing the European Internal Market: Some Notes on Trade Policy by L Alan Winters

· Production Decisions under Demand Uncertainty: The High-Low Search Approach by Dennis J Snower

· A Search Model of Optimal Pricing and Production by Steve Alpern and Dennis J Snower

· Domestic Politics and the International Coordination of Fiscal Policies by Guido Tabellini

· Does Time Inconsistency Matter? by Paul Levine

· The Time Variation of Risk and Return in the Foreign Exchange and Stock Markets by Alberto Giovannini and Philippe Jorion

· Fixed Investment and the Technology Gap in the UK by Michael Beenstock and Chris Whitbread

· An Econometric Investigation of North-South Interdependence by Michael Beenstock

· International Capital Mobility and Tax Evasion by Alberto Giovannini