Bulletin Issue 67 (Autumn 1996) - Contents
In This Issue

· Highlights of this issue

Research

· The Ins and Out of EMU:

· Out in the Cold? by Luigi Spaventa

· Peaceful Coexistence by Niels Thygesen

· The Contractual and Conditional Approach by Charles Wyplosz

· Monetary Cohabitation in Europe by Torsten Persson and Guido Tabellini

Conference

The following conference was discussed in this issue:

· Industrial Policy - A European one?

Workshops

The following workshops were discussed in this issue:

· Telecommunications - Competition, Regulation, Trade and Standards

· Economic geography - Location of Financial Activities

· Financial Markets - Firms and Stockmarkets

Discussion Meetings

The following discussion meetings were discussed in this issue:

· The New Transatlantic Marketplace - A Quantitative Assessment

· Swedish Bonds are Different - International Financial Markets

· Contending with Capital Flows - Why the 1990s are Different

· Transition Economics - Active Labour Market Policies

· A Migration Law - Inevitable in Germany?

· The Superhighway - European Regulation

· Economic Policy 22

CEPR Publications

The following CEPR publications can be ordered:

· The New Transatlantic Economy - Edited by Matthew B Canzoneri, Wilfred J Ethier and Vittorio Grilli

· Economic Policy 22

· Regional Integration (conference volume) - Market Integration, Regionalism and Global Economy Conference on 26/27 April

Discussion Papers

The following Discussion Papers were discussed in this issue:

· Fiscal Deficit Reductions in Line with the Maastricht Criteria for Monetary Union: An Empirical Analysis by Andrew J Hughes Hallett and Peter McAdam

· Hysteresis in Exports by Giorgia Giovannetti and Hossein Samiei

· Labour Contracts, Operating Leverage and Asset Pricing by Jean-Pierre Danthine and John B Donaldson

· The Spread of Industry: Spatial Agglomeration in Economic Development by Diego Puga and Anthony J Venables

· Twin Peaks: Growth and Convergence in Models of Distribution Dynamics by Danny T Quah

· The Decline in Unskilled Employment in UK Manufacturing by Jonathan Haskel

· Sustainability of High Public Debt: What the Historical Record Shows by Albrecht Ritschl

· Adoption of Financial Technologies: Implications for Money Demand and Monetary Policy by Casey B Mulligan and Xavier Sala-i-Martin

· Technological Convergence and International Trade by Dan Ben-David and A K M Atiqur Rahman

· Quitting Externalities with Uncertainty about Future Productivity by Alison L Booth and Gylfi Zoega

· Wage Bargaining, Inventories, and Union Legislation by Melvyn G Coles and Andrew K G Hildreth

· Poverty Dynamics Among Young Americans by Simon Burgess and Carol Propper

· Managerial Career Concerns, Privatization and Restructuring in Transition Economies by Gérard Roland and Khalid Sekkat

· Matching Across Space: Evidence on Mobility in the Czech Republic by Michael C Burda and Stefan Profit

· Multinational Corporations and Spillovers by Magnus Blomström and Ari Kokko

· Real Exchange Rates and Exchange Rate Policy in Hungary by László Halpern

· A Macro Theory of Employment Vouchers by J Michael Orszag and Dennis J Snower

· International Evidence on the Determinants of Saving by Paul R Masson, Tamim Bayoumi and Hossein Samiei

· Implied Volatility Functions: Empirical Tests by Bernard Dumas, Jeff Fleming and Robert E Whaley

· A Macro-Theoretic Model of the Chinese Economy by John Bennett and Huw David Dixon

· Adjustment Costs in Factor Demand by Daniel S Hamermesh and Gerard A Pfann

· Restructuring and Capital Accumulation in Transition Economies: A General Equilibrium Perspective by Micael Castanheira and Gérard Roland

· A Green Light for Environment, or a Green Light for Protection? The EU-US Dispute Over US Corporate Average Fuel Economy Regulations by Joseph F Francois and Håkan Nordström

· The Costs/Benefits of a Common Monetary Policy in France and Germany and Possible Lessons for Monetary Union by Jacques Mélitz and Axel A Weber

· Reorganization of Firms and Labour Market Inequality by Assar Lindbeck and Dennis J Snower

· Temporary Migration, Human Capital, and Language Fluency of Migrants by Christian Dustmann

· Intra-Industry Trade, Foreign Direct Investment and the Reorientation of East European Exports by Bernard Hoekman and Simeon Djankov

· On the Ineffectiveness of Tax Policy in Altering Long- Run Growth: Harberger's Superneutrality Conjecture by Enrique G Mendoza, David Milesi-Ferretti and Patrick Asea

· Out in the Cold? Outsiders and Insiders in 1999: Feasible and Unfeasible Options by Luigi Spaventa

· Monetary Cohabitation in Europe by Torsten Persson and Guido Tabellini

· A Pecking Order Theory of Capital Inflows and International Tax Principles by Assaf Razin, Efraim Sadka and Chi-Wa Yuen

· Managerial Incentives and Product Market Competition by Klaus M Schmidt

· Convergence, Endogenous Growth, and Productivity Disturbances by Charles Leung and Danny T Quah

· Trade Effects of Minimum Quality Standards with and without Deterred Entry by Stefan Lutz

· Does Mutual Recognition of National Minimum Quality Standards Support Regional Convergence? by Stefan Lutz

· Rogoff's 'Conservative' Central Banker Restored by Berthold Herrendorf and Ben Lockwood

· Independent but Accountable: Walsh Contracts and the Credibility Problem by Ali al-Nowaihi and Paul Levine

· Why do More Open Economies Have Bigger Governments? by Dani Rodrik

· Consumption, 'Credit Crunches' and Financial Deregulation by Andrew Scott

· Getting Pegged: Comparing the 1879 and 1925 Gold Resumptions by Tamim Bayoumi and Michael Bordo

· International Fiscal Policy Coordination with Demand Spillovers and Labour Unions by Huw David Dixon and Michele Santoni

· The Capital Structure of Firms in Central and Eastern Europe by Francesca Cornelli, Richard Portes and Mark E Schaffer

· Growth and European Integration: Towards an Empirical Assessment by Richard E Baldwin and Elena Seghezza

· Capital Export, Unemployment, and Illegal Immigration by Günther G Schulze

· Forward Interest Rates as Predictors of EMU by Paul De Grauwe

· Intergenerational Redistribution with Short-lived Governments by Gene M Grossman and Elhanan Helpman

· Trade Liberalization and Endogenous Growth: A q-Theory Approach by Richard E Baldwin and Rikard Forslid

· Gross Worker Flows: How Does the Spanish Evidence Fit the Stylized Facts? by Pablo Antolin

· A Theory of Union Power and Labour Turnover by Kai-Uwe Kühn and A Jorge Padilla

· Are Capital Flows Consistent with the Neoclassical Growth Model? Evidence from a Cross-section of Developing Countries by Stefano Manzocchi and Philippe Martin

· Legal Form, Growth and Exit of West German Firms - Empirical Results for Manufacturing, Construction, Trade and Service Industries by Dietmar Harhoff, Konrad Stahl and Michael Woywode

· Is the Allocation of Voting Power Among the EU States Fair? by Annick Laruelle and Mika Widgrén

· Indeterminacy and Sector-specific Externalities by Jess Benhabib and Roger E A Farmer

· The Monetary Transmission Mechanism by Jess Benhabib and Roger E A Farmer

· Time-Consistent Solutions to the Stochastic Dynamic Strategic Export Subsidy Problem by Konstantine Gatsios, Tryphon Kollintzas and Costas Lagopoulos

· Greek Closed-End Fund Premia: Differences and Similarities with US Premia and Their Implications by Gikas A Hardouvelis and Emmanuel D Tsiritakis

· Endogenous Innovation Spillovers and Technology Policy by Yannis Katsoulacos and David Ulph

· Women's Employment Transitions Around Childbearing by Shirley Dex, Heather Joshi, Andrew McCulloch and Susan Macran

· The Determinants of UK Business Cycles by Allison Holland and Andrew Scott

· A User's Guide to Uruguay Round Assessments by Joseph F Francois, Bradley McDonald and Håkan Nordström