Bulletin Issue 64 (Autumn 1995) - Contents

In This Issue

· Highlights of this issue

Research

· Unemployment - Choices for Europe

· Spanish Unemployment - Is There a Solution?

· Sovereign Debt - Orderly Workouts

Conferences

· Monetary Policy - The European Central Bank

Workshops

· Financial Intermediation - Modelling the Banking Industry

· Financial Intermediation - Effects on Real Activity

· Global Economic Institutions - Prospects for the Future

· Industrial Organization - Mobile Communications

· The New Economic Geography - European Perspectives

Discussion Meetings

The following discussion meetings were discussed in this issue:

· Corporate Governance - Misplaced Debates

· Industrial Innovation - Germany's Crisis

· Economic Growth - Endogenous Innovation

· Economic Growth - The Golden Age

· Economic Growth - Sustainable Development

Discussion Papers

The following Discussion Papers were discussed in this issue:

· Estimating and Interpreting Forward Interest Rates: Sweden 1992-4 by Lars E O Svensson

· Endogenous Growth and Poverty Traps in a Cournotian Model by Jordi Galí and Fabrizio Zilibotti

· Excesses and Limits of the Public Sector in the Italian Economy. The Ongoing Reform by Fiorella Padoa Schioppa Kostoris

· The Determinants of Success of Special Interests in Redistributive Politics by Avinash Dixit and John Londregan

· Contagious Speculative Attacks by Stefan Gerlach and Frank Smets

· Redistributive Politics and Economic Efficiency by Avinash Dixit and John Londregan

· Fiscal Flows in the United States and Canada: Lessons for Monetary Union in Europe by Tamim Bayoumi and Paul R Masson

· The Economics of Enterprise Restructuring in Central and Eastern Europe by Philippe Aghion, Olivier Jean Blanchard and Wendy Carlin

· Explaining Forward Exchange Bias .... Intra-day by Richard K Lyons and Andrew K Rose

· Speculative Attacks on Pegged Exchange Rates: An Empirical Exploration with Special Reference to the European Monetary System by Barry Eichengreen, Andrew K Rose and Charles Wyplosz

· Is There a Safe Passage to EMU? Evidence on Capital Controls and a Proposal by Barry Eichengreen, Andrew K Rose and Charles Wyplosz

· Financial Systems in Transition: Is there a Case for a Bank Based System? by Irena Grosfeld

· Trade, Strategic Innovation and Strategic Environmental Policy - a General Analysis by Alistair Ulph and David Ulph

· Can a Small Nation Gain from Introducing a Carbon Tax Early? by Diderik Lund

· Strategic Environmental Policy and International Trade - The Role of Market Conduct by Alistair Ulph

· Should a Carbon Tax be Differentiated Across Sectors? by Michael Hoel

· The Uruguay Round: A Global General Equilibrium Assessment by Joseph F Francois, Bradley McDonald and Håkan Nordström

· Inflation, Nominal Interest Rates and the Variability of Output by Bankim Chadha and Daniel Tsiddon

· Labour Force Growth, Trade, and Employment by Joseph F Francois

· A Sequential Approach to Regional Integration: The European Union and Central and Eastern Europe by Philippe Martin

· The Creation and Capture of Rents: Wages and Innovation in a Panel of UK Companies by John Van Reenen

· Does Firm Size Matter? Evidence on the Impacts of Liquidity Constraints on Firm Investment Behaviour in Germany by David B Audretsch and Julie Ann Elston

· Exchange Rates in Search of Fundamental Variables by Paul De Grauwe

· International Consumption Risk Sharing by Fabio Canova and Morten O Ravn

· Regional Cohesion: Evidence and Theories of Regional Growth and Convergence by Xavier Sala-i-Martin

· Quality Improvements in Models of Growth by Robert J Barro and Xavier Sala-i-Martin

· Auctions of Shares with a Secondary Market and Tender Offers by António S Mello and John E Parsons

· Entry, Pricing and Incentives: The Role of Regulatory Commitment by Gianni De Fraja

· Competition, Regulation and Managerial Incentives by Gianni De Fraja and Elisabetta Iossa

· A Time to Sow and a Time to Reap: Growth Based on General Purpose Technologies by Elhanan Helpman and Manuel Trajtenberg

· Evaluating Unemployment Policies: What do the Underlying Theories Tell Us? by Dennis J Snower

· Unemployment Persistence: Does the Size of the Shock Matter? by Marco Bianchi and Gylfi Zoega

· Short- and Long-term Hedging for the Corporation by Bernard Dumas

· Developing Countries After the Uruguay Round by Dani Rodrik

· Regional Labour Market Dynamics in Europe by Jörg Decressin and Antonio Fatás

· The Simple Economics of Benefit Transfers by Dennis J Snower

· Europe's Golden Age: An Econometric Investigation of Changing Trend Rates of Growth by Nicholas F R Crafts and Terence C Mills

· Do Credit Markets Discipline Sovereign Borrowers? Evidence from US States by Tamim Bayoumi, Morris Goldstein and Geoffrey Woglom

· The Political Economy of Coal Subsidies in Europe by Kym Anderson

· Fixes: Of the Forward Discount Puzzle by Robert P Flood and Andrew K Rose

· Resisting Migration: Wage Rigidity and Income Distribution by Assaf Razin and Efraim Sadka

· British Economic Growth Since 1945: Relative Economic Decline .... and Renaissance? by Charles R Bean and Nicholas F R Crafts

· Unemployment: Where does it Hurt? by Liliana Winkelmann and Rainer Winkelmann

· Labour Adjustment and Gradual Reform: Is Commitment Important? by Larry S Karp and Thierry Paul

· Post-war Growth: An Overview by Nicholas F R Crafts and Gianni Toniolo

· The Unemployment Implications of Mandatory Firing Costs by Alison L Booth

· Coverage by Incremental Scales by Alison L Booth and Jeff Frank

· Lifetime Jobs and Transient Jobs: Job Tenure in Britain 1975-91 by Simon Burgess and Hedley Rees

· Real Interest Rates and Central Bank Operating Procedures by Matthew B Canzoneri and Harris Dellas

· Monetary Integration in Europe: Implications for Real Interest Rates, National Stock Markets and the Volatility of Prices and Exchange Rates by Matthew B Canzoneri and Harris Dellas

· Quitting Externalities, Employment Cyclicality and Firing Costs by Alison L Booth and Gylfi Zoega

· The Impact of Active Labour Market Policies: A Closer Look at the Czech and Slovak Republics by Michael C Burda and Martina Lubyova

· The Swedish Experience of an Inflation Target by Lars E O Svensson

· Growth and Macroeconomic Performance in Spain, 1939-93 by Leandro Prados de la Escosura and Jorge C Sanz

· The Coherence of EC Policies on Trade, Competition and Industry by Jordi Gual

· On the Persistence of Leadership or Leapfrogging in International Trade by Massimo Motta, Jacques-François Thisse and Antonio Cabrales

· Performance Comparisons and Dynamic Incentives by Margaret A Meyer and John Vickers

· The Welfare Effects of Liquidity Constraints by Tullio Jappelli and Marco Pagano

· Fertility Control Early in Marriage in Ireland a Century Ago by Cormac O'Gráda and Niall Duffy

· Unemployment, Investment and Sectoral Reallocation by Bankim Chadha and Fabrizio Coricelli

· Slowdowns and Meltdowns: Post-war Growth Evidence from 74 Countries by Dan Ben-David and David H Papell

· The WTO's Agreement on Government Procurement: Expanding Disciplines, Declining Membership? by Bernard Hoekman and Petros C Mavroidis

· Household Production and International Business Cycles by Fabio Canova and Angel J Ubide

· Trade Liberalization and the Harmonization of Social Policies: Lessons from European Integration by André Sapir

· The Dynamics of Political Support for Reform in Economies in Transition by Dani Rodrik

· Learning and Dynamic Comparative Advantage: Lessons from Austria's Post-war Pattern of Growth for Eastern Europe by Dalia Marin

· Redistributive Policy in a Transition Economy: The Case of Hungary by Sarah Jarvis and Stephen Pudney

· Unemployment Insurance and Incentives in Hungary by John Micklewright and Gyula Nagy

· The Equity Premium and the Risk Free Rate: A Cross Country, Cross Maturity Examination by Fabio Canova and Gianni De Nicolo

· Applied Cointegration Analysis in the Mirror of Macroeconomic Theory by Paul Söderlind and Anders Vredin

· Causality Implications of the Public-Finance Approach to Inflation and Seigniorage by Behzad Diba and Philippe Martin

· Regulation and Access Pricing with Asymmetric Information by Gianni De Fraja

· On the Evolution of Credibility and Flexible Exchange Rate Target Zones by Renzo G Avesani, Giampiero M Gallo and Mark H Salmon

· The Sharing Hypothesis for Specific Human Capital by Margaret Stevens

· Job Flows, Worker Flows and Churning by Simon Burgess, Julia Lane and David Stevens

· Trade and Convergence Among Countries by Dan Ben-David

· Banking and Development by Oren Sussman and Joseph Zeira

· A Panel Project on Purchasing Power Parity: Mean Reversion Within and Between Countries by Jeffrey A Frankel and Andrew K Rose

· Optimal Stabilization Policy in the Presence of Learning by Doing by Philippe Martin and Carol Ann Rogers

· Stabilization Policy, Learning by Doing, and Economic Growth by Philippe Martin and Carol Ann Rogers

· Exchange Rate Dynamics Redux by Maurice Obstfeld and Kenneth Rogoff

· Central and East European Labour Markets in Transition: Developments, Causes, and Cures by Wolfgang Franz

· North-South R&D Spillovers by David T Coe, Elhanan Helpman and Alexander W Hoffmaister

· Technology and Trade by Gene M Grossman and Elhanan Helpman

· Defensive and Strategic Restructuring in Central European Enterprises by Irena Grosfeld and Gérard Roland

· Privatization and Efficiency in a Differentiated Industry by Kym Anderson, André de Palma and Jacques-François Thisse

· Classical Business Cycles for G7 and European Countries by Michael J Artis, Zenon G Kontolemis and Denise R Osborn

· Testing for Liquidity Constraints in Euler Equations with Complementary Data Sources by Tullio Jappelli, Jörn-Steffen Pischke and Nicholas Souleles

· Workers, Machines and Economic Growth by Joseph Zeira

· Empirics for Economic Growth and Convergence by Danny T Quah

· Double-Edged Incentives: Institutions and Policy Coordination by Torsten Persson and Guido Tabellini

· Federal Fiscal Constitutions. Part II: Risk Sharing and Redistribution by Torsten Persson and Guido Tabellini

· Endogenous Distortions in Product and Labour Markets by Martin Rama and Guido Tabellini

· Government Subsidies to Enterprises in Central and Eastern Europe: Budgetary Subsidies and Tax Arrears by Mark E Schaffer

· Equilibrium Real Exchange Rates in Transition by László Halpern and Charles Wyplosz

· A Labour-Income-Based Measure of the Value of Human Capital: An Application to the States of the United States by Casey B Mulligan and Xavier Sala-i-Martin

· Suppliers' Associations in the Japanese Automobile Industry: Collective Action for Technology Diffusion by Mari Sako

· Can Delegation be Counterproductive? The Choice of 'Conservative' Bankers in Open Economies by David Currie, Paul Levine and Joseph Pearlman

· Measuring Aggregate Human Capital by Casey B Mulligan and Xavier Sala-i-Martin