· Highlights of this issue

· Transformation of Central Europe - Relevance of Competition Policy

The following workshops were discussed in this issue:

· Location of Economic Activity - Spatial Economy

· The Japanese Economy - Current Policy Debates

· Coming to Terms With Accession - Forum Report

The following Discussion Papers were discussed in this issue:

· Trade Liberalization and Investment in a Multilateral Framework by Joseph F Francois, Bradley McDonald and Håkan Nordström

· Public Procurement: A Post-Uruguay Round Perspective by Joseph F Francois, Douglas Nelson and N David Palmeter

· Technological Progress, Mobility, and Economic Growth by Oded Galor and Daniel Tsiddon

· The Use of SDRs in the Financing of Official Safety-net Mechanisms by Marcello De Cecco and Francesco Giavazzi

· Effective Protection and Investment Incentives in Egypt and Jordan During the Transition to Free Trade with Europe by Bernard Hoekman and Simeon Djankov

· Competition Policy in Switzerland by Damien J Neven and Thomas von Ungern-Sternberg

· Trends in European Productivity and Real Exchange Rates: Implications for the Maastricht Convergence Criteria and for Inflation Targets after EMU by Matthew B Canzoneri, Behzad Diba and Gwen Eudey

Mechanisms for Achieving Monetary Stability: Inflation Targeting Versus the ERM by Matthew B Canzoneri, Charles Nolan and Anthony Yates

· Unequal Societies by Roland Bénabou

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

· Agency Costs in the Process of Development by Daron Acemoglu and Fabrizio Zilibotti

· Do Capital Market Imperfections Exacerbate Output Fluctuations? by Philippe Bacchetta and Ramon Caminal

· Background Uncertainty and the Demand for Insurance Against Insurable Risks by Luigi Guiso and Tullio Jappelli

· Fuzzy Transition and Firm Efficiency: Evidence from Bulgaria, 1991-4 by Simeon Djankov and Bernard Hoekman

· Regional Growth in Japan by Etsuro Shioji

· Was Prometheus Unbound by Chance? Risk, Diversification and Growth by Daron Acemoglu and Fabrizio Zilibotti

· 'Actual' versus 'Virtual' Employment in Europe: Is Spain Different? by Ramon Marimon and Fabrizio Zilibotti

· Voting for Jobs: Policy Persistence and Unemployment by Gilles Saint-Paul

· The Role of Market Size in the Formation of Jurisdictions by Alessandra Casella

· Employment, Macroeconomic Fluctuations and Job Security by M Pilar Díaz and Dennis J Snower

· Corporate Growth and Profitability by Paul A Geroski, Stephen J Machin and Chris F Walters

· Innovations, Patents and Cash Flow by Paul A Geroski, John Van Reenen and Chris F Walters

· How Persistently do Firms Innovate? by Paul A Geroski, John Van Reenen and Chris F Walters

· Technology and Changes in Skill Structure: Evidence from an International Panel of Industries by Stephen J Machin, Annette Ryan and John Van Reenen

· Regional Integration, Scale Economies and Industry Location in the European Union by Marius Brülhart and Johan Torstensson

· Common Agency and Coordination: General Theory and Application to Tax Policy by Avinash Dixit, Gene M Grossman and Elhanan Helpman

· Optimal Regional Redistribution Under Asymmetric Information by Massimo Bordignon, Paolo Manasse and Guido Tabellini

· Understanding Labour Market Institutions: A Political Economy Perspective by Gilles Saint-Paul

· R&D Alliances as Non-cooperative Supergames by Luís M B Cabral

· Social Policy Dimensions of Economic Integration: Environmental and Labour Standards by Kym Anderson

· Competition Policy in Portugal by Pedro P Barros and José Mata

· The Optimal Speed of Transition: A General Equilibrium Analysis by Micael Castanheira and Gérard Roland

· Vertical Product Differentiation, Quality Standards, and International Trade Policy by Stefan Lutz

· Did Colonization Matter for Growth? An Empirical Exploration into the Historical Causes of Africa's Underdevelopment by Graziella Bertocchi and Fabio Canova

· Trade, Wages and the Persistence of Underdevelopment by Graziella Bertocchi

· Competition in Multi-characteristics Spaces: Hotelling was Almost Right by Andreas Irmen and Jacques-François Thisse

· Pricing Policy Under Double Market Power: Madagascar and the International Vanilla Market by Jaime de Melo, Marcelo Olarreaga and Wendy Takacs

· Regional Integration and Lobbying for Tariffs Against Non-members by Olivier Cadot, Jaime de Melo and Marcelo Olarreaga

· Profitability, Fiscal Policy, and Exchange Rate Regimes by Philip R Lane and Roberto Perotti

· Inequality and Growth by Roland Bénabou

· Relative Prices, Trade and Restructuring in European Industry by Damien J Neven and Charles Wyplosz

· Transition Dynamics and Trade Policy Reform in Developing Countries by Joseph F Francois, Håkan Nordström and Clinton R Shiells

· Contagious Currency Crises by Barry Eichengreen, Andrew K Rose and Charles Wyplosz

· Arbitrage, Hedging and Financial Innovation by James Dow

· Vertical Product Differentiation and Entry Deterrence by Stefan Lutz

· Monetary Policy, Forward Rates and Long Rates: Does Germany Differ from the United States? by Carlo A Favero, Fabrizio Iacone and Marco Pifferi

· Inflation Targeting to Achieve Inflation Convergence in the Transition Towards EMU by Paul De Grauwe

· The Prospects of a Mini Currency Union in 1999 by Paul De Grauwe

· Changes in Unemployment and Wage Inequality: An Alternative Theory and Some Evidence by Daron Acemoglu

· Why do Firms Train? Theory and Evidence by Daron Acemoglu and Jörn-Steffen Pischke

· Is Child Like Parent? Educational Attainment and Ethnic Origin by Ira N Gang and Klaus F Zimmermann

· Migration as Disaster Relief: Lessons from the Great Irish Famine by Cormac O'Gráda and Kevin H O'Rourke

· Fiscal Constraints on Central Bank Independence and Price Stability by Matthew B Canzoneri and Behzad Diba

· Relative Labour Productivity and the Real Exchange Rate in the Long Run: Evidence for a Panel of OECD Countries by Matthew B Canzoneri, Robert E Cumby and Behzad Diba

· Growth Effects of European Integration by Magnus Henrekson, Johan Torstensson and Rasha Torstensson

· Interpreting the ERM Crisis: Country-Specific and Systemic Issues by Willem H Buiter, Giancarlo Corsetti and Paolo A Pesenti

· R&D Spillovers and Global Growth by Tamim Bayoumi, David T Coe and Elhanan Helpman

· Promoting an Effective Market Economy in a Changing World by Willem H Buiter, Ricardo Lago and Nicholas Stern

· European Anti-dumping Policy and the Profitability of National and International Collusion by Reinhilde Veugelers and Hylke Vandenbussche

· Who Gets Over the Training Hurdle? A Study of the Training Experiences of Young Men and Women in Britain by Wiji Arulampalam and Alison L Booth

· Incapacity Benefits versus Benefit Transfers by J Michael Orszag and Dennis J Snower

· Market Transparency, Competitive Pressure and Price Volatility by Kai-Uwe Kühn and Catalina B Martínez

· The Endogeneity of the Optimum Currency Area Criteria by Jeffrey A Frankel and Andrew K Rose

· Asia-Pacific Food Markets and Trade in 2005: A Global, Economy-wide Perspective by Kym Anderson, Betina Dimaranan, Tom Hertel and Will Martin

· Separation of Powers and Accountability: Towards a Formal Approach to Comparative Politics by Gérard Roland, Guido Tabellini and Lars Persson

· The Effects of Migration on the Relative Demand of Skilled versus Unskilled Labour: Evidence from Spain by Juan J Dolado, Juan F Jimeno and Rosa Duce

· On the Taxation of Human and Physical Capital in Models of Endogenous Growth by David Milesi-Ferretti and Nouriel Roubini

· Decentralized Trade, Entrepreneurial Investment and the Theory of Unemployment by Melvyn G Coles

· Public Investment and Endogenous Growth in a Small Open Economy by George S Alogoskoufis and Sarantis C Kalyvitis

· Is Technical Analysis in the Foreign Exchange Market Profitable? A Genetic Programming Approach by Christopher J Neely, Paul Weller and Robert Dittmar

· Is a Two-speed System in Europe the Answer to the Conflict between the German and the Anglo-Saxon Models of Monetary Control? by Maria Demertzis, Andrew J Hughes Hallett and Ole Rummel

· Distribution of Export Price Risk in a Developing Country by François Bourguignon, Sylvie Lambert and Akiko Suwa-Eisenmann

· Short- and Long-run Phillips Trade-offs and the Cost of Disinflationary Policies by Juan J Dolado, J David López-Salido and Juan Luis Vega

· Operationalizing the Theory of Optimum Currency Areas by Tamim Bayoumi and Barry Eichengreen

· Monetary Union and European Unemployment by José Viñals and Juan F Jimeno

· Toeholds and Takeovers by Jeremy Bulow, Ming Huang and Paul Klemperer

· Expertise, Contingent Fees, and Excessive Litigation by Winand Emons

· Debt, Cash Flow and Inflation Incentives: A Swedish Example by Mats Persson, Lars Persson and Lars E O Svensson