European Economic Review

1969 - 2025

Current editor(s): T.S. Eicher, A. Imrohoroglu, E. Leeper, J. Oechssler and M. Pesendorfer

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Volume 38, issue 9, 1994

Access pricing and competition pp. 1673-1710

Jean-Jacques Laffont and Jean Tirole

Was the Great Depression a low-level equilibrium? pp. 1711-1729

John Dagsvik and Boyan Jovanovic

Real adjustment in a union of incompletely converged economies: An example from East and West Germany pp. 1731-1761

Andrew Hughes Hallett and Yue Ma

Sources of business cycles in Europe: 1960-1988. Evidence from France, Germany, and the United Kingdom pp. 1763-1778

Georgios Karras

Capitalists and workers: Knowledge and the strategic role of investment within the firm pp. 1779-1797

Geoff Stewart

On the design of stable joint ventures pp. 1799-1815

Reinhilde Veugelers and Katrien Kesteloot

How sensible is the Leyden individual welfare function of income? A reply pp. 1817-1825

Bernard van Praag and Arie Kapteyn

Volume 38, issue 8, 1994

Repeated moral hazard: The role of memory, commitment, and the access to credit markets pp. 1527-1553

Pierre Chiappori, Ines Macho-Stadler, Patrick Rey and Bernard Salanié

Investment behaviour of Dutch industrial firms: A panel data study pp. 1555-1580

Peter Broer and George Leeuwen

Labor productivity and the business cycle: Can R.B.C. models be saved? pp. 1581-1594

Xavier Fairise and Francois Langot

Trade unions and seniority employment rules pp. 1595-1611

Jeff Frank and James Malcomson

Optimal non-linear income taxation for the alleviation of income-poverty pp. 1613-1632

Ravi Kanbur, Michael Keen and Matti Tuomala

How sensible is the Leyden individual welfare function of income? pp. 1633-1659

Christian Seidl

Dominant interest and inflation differentials within the EMS: A comment pp. 1661-1663

Andre Van Poeck and Johan Van Gompel

Dominant interest and inflation differentials within the EMS: A reply pp. 1665-1666

Kees G. Koedijk and Clemens Kool

Volume 38, issue 7, 1994

Liquidity provision, banking, and the allocation of interest rate risk pp. 1363-1389

Martin Hellwig

Life-cycle expenditure allocations and the consumption costs of children pp. 1391-1410

James Banks, Richard Blundell and Ian Preston

Flexible labor compensation, risk sharing and company leverage pp. 1411-1421

Andrea Ichino

Research vs. development: Optimal patenting policy in a three-stage model pp. 1423-1440

Manfredi M. A. La Manna

Testing the basic target zone model on Swedish data 1982-1990 pp. 1441-1469

Hans Lindberg and Paul Söderlind

Evaluating risky consumption paths: The role of intertemporal substitutability pp. 1471-1486

Maurice Obstfeld

Coordination problems at negligible degrees of market power pp. 1487-1491

Joaquim Silvestre

Returns to scale in the French manufacturing industry pp. 1493-1504

Daniel Szpiro and Gilbert Cette

Pricing initial public offerings: Evidence from Germany pp. 1505-1517

Walter Wasserfallen and Christian Wittleder

Volume 38, issue 6, 1994

Exchange rates, inflation and structural change: An introduction pp. 1179-1184

George de Menil and Robert Gordon

European exchange rate credibility before the fall pp. 1185-1216

Andrew Rose and Lars Svensson

Comments: European exchange rate credibility before the fall by A.K. Rose and L.E.O. Svensson pp. 1217-1220

William Branson

Comments: European exchange rate credibility before the fall by A.K. Rose and L.E.O. Svensson pp. 1221-1223

Guido Tabellini

International evidence on tradables and nontradables inflation pp. 1225-1244

Jose De Gregorio, Alberto Giovannini and Holger C. Wolf

Comments: International evidence on tradables and nontradables inflation by J. De G regorio, A. Giovannini and H.C. Wolf pp. 1245-1249

Robert Gordon

Comments: International evidence on tradables and nontradables inflation by J. De Gregorio, A. Giovannini and H.C. Wolf pp. 1250-1256

George de Menil

Rational bubbles during Poland's hyperinflation: Implications and empirical evidence pp. 1257-1276

Michael Funke, Stephen Hall and Martin Sola

Comments: Rational bubbles during Poland's hyperinflation: Implications and empirical evidence by M. Funke, S. Hall and M. Sola pp. 1277-1281

Wojciech Charemza

Comments: Rational bubbles during Poland's hyperinflation: Implications and empirical evidence by M. Funke, S. Hall and M. Sola pp. 1282-1285

Kenneth West

Gross worker and job flows in Europe pp. 1287-1315

Michael Burda and Charles Wyplosz

Comments: Gross worker and job flows in Europe by M. Burda and C. Wyplosz pp. 1316-1320

John Abowd

Comments: Gross worker and job market flows in Europe by M. Burda and C. Wyplosz pp. 1321-1325

Wolfgang Franz

The behaviour of state firms in eastern Europe, pre-privatisation pp. 1327-1349

Philippe Aghion, Olivier Blanchard and Robin Burgess

Comments: The behaviour of state firms in eastern Europe, pre-privatization by P. Aghion, O. Blanchard and R. Burgess pp. 1350-1356

Saul Estrin

Comments: The behaviour of state firms in eastern Europe, pre-privatization by P. Aghion, O. Blanchard and R. Burgess pp. 1357-1361

Horst Siebert

Volume 38, issue 5, 1994

Wage bargaining and nominal rigidities pp. 1021-1039

Steinar Holden

Merger policy in open economies pp. 1041-1055

Pedro Barros and Luis Cabral

Delegation in international monetary policy games pp. 1057-1069

Juan J. Dolado, Juan J. Dolado, Mark Griffiths, A. Jorge Padilla and A. Jorge Padilla

Learning, convergence, and stability with multiple rational expectations equilibria pp. 1071-1098

George Evans, Seppo Honkapohja and Seppo Honkapohja

The 'perverse' effects of wage and price controls in search markets pp. 1099-1112

Chaim Fershtman and Arthur Fishman

Shared ATM networks and banking competition pp. 1113-1138

Carmen Matutes and A. Jorge Padilla

Export subsidies under dynamic duopoly pp. 1139-1151

Yasuhito Tanaka

Voting power in the EC decision making and the consequences of two different enlargements pp. 1153-1170

Mika Widgrén

A note on the correct specification of financial portfolio AIDS models pp. 1171-1174

Arthur Grimes, Alfred Y-T. Wong and Chris S. Meads

Volume 38, issue 3-4, 1994

Introduction pp. 417-417

Daniel Cohen

Debt deflation: Theory and evidence pp. 419-445

Mervyn King

Fixed exchange rates as a means to price stability: What have we learned? pp. 447-468

Lars Svensson

On banking and intermediation pp. 469-487

Jean Tirole

Growth and employment: The scope of a European initiative pp. 489-504

Jacques Dreze and Edmond Malinvaud

Economic research in Europe pp. 505-522

Alan Kirman and Mogens Dahl

European unemployment: A retrospective pp. 523-534

Charles Bean

Unemployment, wage rigidity, and the returns to education pp. 535-543

Gilles Saint-Paul

Environmental policy reconsidered: The role of technological innovation pp. 545-554

Carlo Carraro and Domenico Siniscaico

Environmental policy, compliance and innovation pp. 555-562

Jean-Jacques Laffont and Jean Tirole

Does environmental dumping lead to delocation? pp. 563-576

Massimo Motta and Jacques Thisse

Welfare costs and rent premia when quotas are not transferable pp. 577-585

Jaime de Melo, Alexander Pfaff and David Tarr

Lobbying and adjustment in declining industries pp. 586-595

S. Lael Braillard and Thierry Verdier

The EC and protection: The political economy pp. 596-603

L. Winters

One business cycle and one trend from (many,) many disaggregates pp. 605-614

Danny Quah

Detrending and turning points pp. 614-623

Fabio Canova

Common and uncommon trends and cycles pp. 624-635

Marco Lippi and Lucrezia Reichlin

Competition, cooperation and mergers: Economic and policy issues pp. 637-650

Bernard Bensaid, David Encaoua and Antoine Winckler

Networks and compatibility: Implications for antitrust pp. 651-662

Nicholas Economides and Lawrence White

Distorting the direction of technological change pp. 663-673

William Adams and David Encaoua

Gathering information before the contract is offered: The case with two states of nature pp. 675-682

Jacques Crémer and Fahad Khalil

Rewarding performance by promotion to a different job pp. 683-690

James A. Fairburn and James Malcomson

Job design, delegation and cooperation: A principal-agent analysis pp. 691-700

Hideshi Itoh

Opening the black box of innovation pp. 701-710

Philippe Aghion and Jean Tirole

Distributive justice: Theoretical foundations and empirical findings pp. 711-720

Wulf Gaertner

Rational normative economics vs 'social welfare' and 'social choice' pp. 721-730

Serge-Christophe Kolm

Rights and freedom in welfare economics pp. 731-738

Prasanta K. Pattanaik

Cross-sectional regressions and the empirics of economic growth pp. 739-747

Xavier Sala-i-Martin

Monopolistic competition, endogenous markups, and growth pp. 748-756

Jordi Galí

Models of political economy of growth: A short survey pp. 757-763

Thierry Verdier

Does centralization increase the size of government? pp. 765-773

Torsten Persson and Guido Tabellini

Central bank constitutions for federal monetary unions pp. 774-782

Juergen von Hagen and Ralph Suppel

The political economy of fiscal restrictions: Implications for Europe from the United States pp. 783-791

Barry Eichengreen and Tamim Bayoumi

A panel analysis of job changes and unemployment pp. 793-801

Martin Mühleisen and Klaus Zimmermann

On-the-job search and the cyclical sensitivity of job mobility pp. 802-808

Joop Hartog and Hans van Ophem

Matching models and labour market flows pp. 809-816

Simon Burgess

Human capital, inequality, and growth: A local perspective pp. 817-826

Roland Benabou

Income distribution and investment pp. 827-835

Roberto Perotti

Spillovers, stratification, and inequality pp. 836-845

Steven Durlauf

Evolutionary game theory pp. 847-858

Eric van Damme

Drift pp. 859-867

Ken Binmore and Larry Samuelson

The 'as if' approach to game theory: Three positive results and four obstacles pp. 868-881

Jörgen Weibull

Institutional prerequisites for economic growth: Europe after World War II pp. 883-890

Barry Eichengreen

Monetary policy in economic transition: Lessons from the French post-war experience pp. 891-898

Gilles Saint-Paul

Belgium's postwar growth and the catch-up hypothesis pp. 899-911

Isabelle Cassiers

Nontraded assets and the CAPM pp. 913-922

Philippe Weil

Some models of the international capital market pp. 923-931

Bernard Dumas

Frictions in asset pricing and macroeconomics pp. 932-939

S. Aiyagari

The optimal degree of competition and dynamic efficiency in Japan and Korea pp. 941-951

Alice H. Amsden and Ajit Singh

On the mechanism of catching up pp. 952-963

Man-lui Lau and Henry Wan

Lessons from the East Asian NICS: A contrarian view pp. 964-973

Alwyn Young

Volume 38, issue 2, 1994

Competition, long run contracts and internal inefficiencies in firms pp. 213-233

Henrik Horn, Harald Lang and Stefan Lundgren

Stylized facts of business cycles in the G7 from a real business cycles perspective pp. 235-269

Riccardo Fiorito and Tryphon Kollintzas

Sustainable collusion in oligopoly with free entry pp. 271-283

James Friedman and Jacques Thisse

A monopoly-union model of wage determination with capital and taxes: An empirical application to the Finnish manufacturing pp. 285-303

Pasi Holm, Seppo Honkapohja and Erkki Koskela

On the effectiveness of economic policy when competition is imperfect and expectations are rational pp. 305-327

Hans Jorgen Jacobsen and Christian Schultz

Some evidence on hysteresis in unemployment rates pp. 329-342

Albert Jaeger and Martin Parkinson

Dynamic tax incidence and intergenerationally neutral reform pp. 343-366

Christian Keuschnigg

Equilibrium effects of potential entry when prices signal quality pp. 367-383

Per Overgaard

On-the-job search: Some empirical evidence from Britain pp. 385-401

Christopher Pissarides and Jonathan Wadsworth

Bargaining structure and economic performance in the open economy pp. 403-415

Martin Rama

Volume 38, issue 1, 1994

Exchange rate hysteresis? Large versus small policy misalignments pp. 1-22

Richard Baldwin and Richard Lyons

Price discrimination via second-hand markets pp. 23-44

Simon Anderson and Victor Ginsburgh

Equilibrium entry patterns under uncertainty pp. 45-58

Elie Appelbaum and Shlomo Weber

Saving, investment and international capital mobility in EC countries pp. 59-67

Isabel Argimon and JoseMaria Roldan

Nominal budgeting as a stabilization rule: The optimal degree of indexation of public spending pp. 69-85

Avner Bar-ilan and Alessandro Zanello

Multifirm unions and the incentive to adopt pattern bargaining in oligopoly pp. 87-100

Paul Dobson

The inverse almost ideal demand system pp. 101-115

James S. Eales and Laurian Unnevehr

Government size and macroeconomic stability pp. 117-132

Jordi Galí

Noise: A firm-made trade barrier pp. 133-141

Abraham Hollander

A mechanism design approach to transfer pricing by the multinational firm pp. 143-170

Neal M. Stoughton and Eli Talmor

Antidumping and countervailing duty decisions in the E.C. and in the U.S.: An experiment in comparative political economy pp. 171-193

P. K. M. Tharakan and J. Waelbroeck

Labour markets and innovation: Ex-post bargaining pp. 195-210

A. M. Ulph and D. T. Ulph