Bulletin Issue 66 (Spring 1996) - Contents

In This Issue

· Highlights of this issue

Research

· The European Union - Flexible Integration

Conferences

The following conferences were discussed in this issue:

· International Trade - Commercial Policy Analysis

· Central and Eastern Europe - Banking Sector

· The New Economic Geography - Trade, Location and Technology

Workshops

The following workshops were discussed in this issue:

· Labour Market Dynamics - Entry and Exit of Firms and Workers

· International Trade - European Research Workshop

· Industrial Organization - Competition Policy

· Exchange Rates - Monetary Policy in Europe

· Migration and Trade - Sending Country Effects

· The Economy of Japan - Financial and Labour Markets

· Finance in Europe - Market Microstructure

· Income Inequality - Redistribution and Institutions

Discussion Papers

The following Discussion Papers were discussed in this issue:

DP1255

Technological Diffusion, Convergence and Growth by Robert J Barro and Xavier Sala-i-Martin

DP1256

Will East Germany Become a New Mezzogiorno? by Andrea Boltho, Wendy Carlin and Pasquale Scarsmozzino

DP1257

Alternative Operating Procedures for Monetary Policy - A New Look at the Money Supply Process by Peter Bofinger and Andrea Schächter

DP1258

The Term Structure of Euro-Rate: Some Evidence in Support of the Expectations Hypothesis by Stefan Gerlach and Frank Smets

DP1259

Regional Unemployment Persistence (Spain, 1976-94) by Samuel Bentolila and Juan Franscisco Jimeno

DP1260

Adjustment and Performance of the Textile and Clothing Industry in the Czech Republic, Poland and Portugal by Cristina Corado, Vladimir Benacek and Wieslaw Caban

DP1261

Stock Market Efficiency and Economic Efficiency: Is there a Connection? By James Dow and Gary Gorton

DP1262

Asset Pricing Models with and without Consumption: An Empirical Evaluation by Gikas A Hardouvelis, Dongcheol Kim and Thierry A Wizman

DP1263

Price Volatility and Futures Margins by Gikas A Hardouvelis and Dongcheol Kim

DP1264

The Information Content of the Term Structure: Evidence for Germany by Stefan Gerlach

DP1265

The Poor Stay Poor: Non-Convergence Across Countries and Regions by Fabio Canova and Albert Marcet

DP1266

Foreign Direct Investment and Politics: The Swedish Model by Magnus Blomström and Ari Kokko

DP1267

Transport Costs, Intermediate Goods and Localized Growth by Uwe Walz

DP1268

Are Markets More Competitive if Commodities are Closer Substitutes? By Norbert Schulz

DP1269

Politics and Trade Policy by Elhanan Helpman

DP1270

Labour Specialization and City Formation by Marcus Berliant and Yves Zenou

DP1271

International Migration Controls by Gordon M Myers and Yorgos Y Papageorgiou

DP1272

Reciprocal Anti-Dumping and the Location of Firms by Jan I Haaland and Ian Wooton

DP1273

Ownership and Corporate Control in Poland: Why State Firms Defied the Odds by Brian Pinto and Sweder van Wijnbergen

DP1274

Catch-up, Growth and Convergence in the OECD by Angel de la Fuente

DP1275

The Empirics of Growth and Convergence: A Selective Review by Angel de la Fuente

DP1276

Innovation, 'Bank' Monitoring and Endogenous Financial Development by Angel de la Fuente and José Maria Martin

DP1277

Do Consumers Search for the Highest Price? Equilibrium and Monopolistic Optimum in Differentiated Products Markets by Norbert Schulz and Konrad Stahl

DP1278

A Theory of the Welfare State by Hans-Werner Sinn

DP1279

Skill Demand and Factor Substitution by Fatemah Shadman-Mehta and Henri Sneesens

DP1280

International Business Cycles and the Dynamics of the Current Account by Graham Elliott and Antonio Fatás

DP1281

Long-Term Growth and Short-Term Economic Instability by Philippe Martin and Carol Ann Rogers

DP1282

Transitional Dynamics to Optimal Sustainable Growth by Ignazio Musu

DP1283

Death, Tetanus and Aerobics: The Evaluation of Disease-Specific Health Inventions by William H Dow, Jessica Holmes, Tomas Philipson and Xavier Sala-i-Martin

DP1284

Non-Keynesian Effects of Fiscal Policy Changes: International Evidence and the Swedish Experience by Francesco Giavazzi and Marco Pagano

DP1285

Dynamic Common Factors in Large Cross-Sections by Mario Forni and Lucrezia Reichlin

DP1286

Regional Convergence Clusters Across Europe by Danny T Quah

DP1287

Is Friedman Rule Optimal when Money is an Intermediate Good? By Isabel Correia and Pedro Teles

DP1288

A Voting Power Analysis of Supranational and National Influence in the EU by Mika Widgrén

DP1289

Explaing Consumption: A Simple Test of Alternative Hypotheses by Tamin Bayoumi

DP1290

Optimum Electoral Areas by André Sapir and Khalid Sekkat

DP1291

International Trade in Exhaustible Resources: A Cartel-Competitive Fringe Model by Larry Karp and Olli Tahvonen

DP1292

The Geography of Multi-Speed Europe by Philippe Martin and Gianmarco I P Ottaviano

DP1293

Excess Entry, Vertical Integration and Welfare by Kai-Uwe Kühn and Xavier Vives

DP1294

Is Regionalism Simply a Diversion? Evidence from the Evolution of the EC and EFTA by Tamim Bayoumi and Barry Eichengreen

DP1295

Endogenous Communication Among Lenders and Entrepreneurial Incentives by A Jorge Padilla and Marco Pagano

DP1296

East Germany: The Economics of Kinship by Jürgen von Hagen

DP1297

Reciprocity and Inflation in Federal Monetary Unions by Jïrgen von Hagen

DP1298

Labour Market Institutions and the Cohesion of the Middle Class by Gilles Saint-Paul

DP1299

Does Monetary Unification Lead to Excessive Debt Accumulation? By Roel M W J Beetsma and A Lans Bovenberg

DP1300

Catching Up With Eastern Europe? The European Union's Mediterranean Free Trade Initiative by Bernard Hoekman and Simeon Djankov

DP1301

Trade Liberalization and Enterprise Restructuring in Bulgaria, 1992-94 by Simeon Djankov and Bernard Hoekman

DP1302

Active Labour Market Policies, Job Matching and the Czech Miracle by Tito Boeri and Michael C Burda

DP1303

Designing Fiscal and Monetary Institutions for a European Monetary Union by Roel M W J Beetsma and A Lans Bovenberg

DP1304

Commodity Tax Harmonization with Public Goods - An Alternative Perspective by Ben Lockwood

DP1305

Trade Strategy, Investment and Exports: Another Look at East Asia by Dani Rodrik

DP1306

Product Differentiation in the Presence of Positive and Negative Network Effects by Ami Navon, Oz Shy and Jacques-François Thisse

DP1307

Exchange Rat Premia and the Credibility of the Crawling Traget Zone in Hungary

DP1308

Investment Creation and Investment Diversion: Simulation Analysis of the Single Market Programme by Richard E Baldwin, Rikard Forslid and Jan Haaland

DP1309

Preferential Trading Arrangements and Industrial Location by Diego Puga and Anthony J Venables

DP1310

Convergence in Monetary Inflation Models with Heterogeneous Learning Rules by George W Evans, Seppo Honkapohja and Ramon Marimon

DP1311

Is the German Apprenticeship System a Panacea for the US Labour Market? By Dietmar Harhoff and Thomas J Kane

DP1312

The Bargaining Family Revisited by Kai A Konrad and Kjell Erik Lommerud

DP1313

Forward Interest Rates as Indicators of Inflation Expectations by Paul Söderlind

DP1314

Hiring Risk and Labour Market Equilibrium by J Michael Orszag and Gylfi Zoega

DP1315

Models of Currency Crises with Self-Fulfilling Features by Maurice Obstfeld

DP1316

Regionalism and the Rest of the World: The Irrelevance of the Kemp-Wan Theorem by L Alan Winters

DP1317

Deepening of Regional Integration and Multilateral Trade Agreements by Eric W Bond, Constantinos Syropoulos and L Alan Winters

DP1318

Wage and Mobility Effects of Trade and Migration by John P Haisken-De New and Klaus Zimmerman

DP1319

Trade, Migration and Convergence: An Historical Perspective by Kevin H O'Rourke

DP1320

Large Countries, Small Countries and the Enlargement of Trade Blocs by Alessandra Casella

DP1321

Simultaneous Choice of Process and Product Innovation by Stephanie Rosenkranz

DP1322

Does an Aging Population Increase Inequality? By Robert K von Weizsäcker

DP1323

Restructuring Production and Work by Assar Lindbeck and Dennis J Snower

DP1324

Strategic Public Provision of Local Inputs for Oligopolistic Firms in the Presence of Endogenous Location Choices by Uwe Walz and Dietmar Wellisch

DP1325

Managerial Incentives for Mergers by Ramon Fauli-Oller and Massimo Motta

DP1326

Country Asymmetries, Endogenous Product Choice and the Speed of Trade Liberalization by Antonio Cabrales and Massimo Motta

DP1327

Monopolistic Competition, Trade, and Endogenous Spatial Fluctuations by Gianmarco I P Ottaviano

DP1328

From Local to Global Competition by Simon P Anderson and André de Palma

DP1329

Investment, Liquidity Constraints and Bank Relationships: Evidence from German Manufacturing Firms by Julie Ann Elston

DP1330

High Yields: The Spread on German Interest Rates by Carlo A Favero, Francesco Giavazzi and Luigi Spaventa

DP1331

Testing for Trade-induced Investment-led Growth by Richard E Baldwin and Elena Seghezza

DP1332

Why Do Companies Go Public? An Empirical Analysis by Marco Pagano, Fabio Panetta and Luigi Zingales

DP1333

Endogenous Growth: Lessons for and from Economic History by Nicholas F R Crafts

DP1334

Hysteresis and Economic Fluctuations (Spain, 1970-94) by Juan J Dolado and J David López-Salido

DP1335

Knowledge Dissemination, Capital Accumulation, Trade and Endogenous Growth by Dan Ben-David and Michael B Loewry

DP1336

The Unit Root Hypothesis in Long-term Output: Evidence From Two Structural Breaks for 16 Countries by Dan Ben-David, Robin L Lumsdaine and David H Papell

DP1337

Exchange Rate Dynamics and Financial Market Integration by Alan Sutherland

DP1338

Employment Protection, International Specializarion and Innovation by Gilles Saint-Paul

DP1339

Fiscal Constraints, Reform Strategies and the Speed of Transition: The Case of Central-Eastern Europe by Fabrizio Coricelli

DP1340

Endogenous Growth and Stochastic Trends by Antonio Fatás

DP1341

The Theory of Endowment, Intra-Industry and Multinational Trade by James R Markusen and Anthony J Venables

DP1342

Labour Mobility and Fiscal Coordination: Setting Growth Agenda for an Economic Union by Assaf Razin and Chi-Wa Yuen

DP1343

Around the European Periphery 1870-1913: Globalization, Schooling and Growth by Kevin H O'Rourke and Jeffrey G Williamson

DP1344

Economics of Agglomeration by Masahisa Fujita and Jacques-François Thisse

DP1345

Matching, Heterogeneity and the Evolution of Income Distribution by Daron Acemoglu

DP1346

Immigration, Trade and Austrian Unemployment by Josef Zweimüller and Rodulf Winter-Ebmer

DP1347

Firing Costs, Unions and Employment by Alison L Booth and Andrew McCulloch

DP1348

State-contigent Inflation Contracts and Output Persistence by Ben Lockwood

DP1349

Currency Crashes in Emerging Markets: Empirical Indicators by Jeffrey A Frankel and Andrew K Rose

DP1350

Convergence? Inferences from Theoretical Models by Oded Galor