The sixth issue of Economic Policy was published in April. It contains six specially commissioned studies on topical policy problems.

Highly centralized or highly decentralized wage bargaining systems perform equally well, while those with an intermediate degree of centralization do less well. This is the verdict of two articles in Economic Policy, by Lars Calmfors and John Driffill and by Richard Freeman.
George Yarrow argues that earlier studies showing that nuclear power has significant cost advantages have relied on assumptions which were unduly favourable to nuclear power; more plausible estimates change the balance of advantage.
Independent taxation of husbands and wives will have economic benefits, according to Richard Blundell and Ian Walker. Gender differences in labour market behaviour mean that a progressive tax system may also improve resource allocation.
Insider trading is not a `victimless' crime; Mervyn King and Ailsa Roell find that, though very profitable for the individuals concerned, insider trading may significantly damage the economy.
Existing theories of political cycles fail to explain the widespread shift to conservative economic policies. Daniel Cohen offers an alternative explanation based on changing economic conditions, leading to different policy choices
Individual issues of Economic Policy (ISSN 0266-4658) are available at £9.50 ($17.00 in US). A 1988 subscription (issues 6 and 7) is £10.00 ($17.00 in US) for individuals, and £17.00 in the UK and £19.00 elsewhere ($34.00 in US) for institutions. Orders should be placed with: The Journals Publicity Department, Cambridge University Press, The Edinburgh Building, Shaftesbury Road, Cambridge, CB2 2RU, UK.