CEPR Discussion Papers

From C.E.P.R. Discussion Papers
Centre for Economic Policy Research, 33 Great Sutton Street, London EC1V 0DX.
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293: Costs of Inflation

Edward Driffill, Grayham Mizon and Alistair Mitchell Ulph

292: British Economic Growth Before and After 1979: A Review of the Evidence

Nicholas Crafts

291: Imperfect Competition, Expectations and the Effectiveness of Monetary Policy

Neil Rankin

290: The Fiscal and Monetary Dynamics of Israeli Inflation: A Cointegrated Analysis 1970-1987

Michael Beenstock and Michael Ben-Gad

289: A Democratic Model of the `Rent-Sought' Benefit Cycle

Michael Beenstock

288: The Factorial Distribution of Income in the Union Bargaining Model

Michael Beenstock

287: The National Security Argument for Agricultural Protection

L. Winters

286: Protectionism and the US Trade Deficit: An Empirical Analysis

W Helkie, Andrew Hughes Hallett and Jaime Marquez

285: Can the EMS Be Exported? Lessons from Ten Years of Monetary Policy Coordination in Europe

Francesco Giavazzi and Alberto Giovannini

284: The Labour Force Participation of Older Men in Britain, 1951-81

Paul A Johnson

283: Voluntary Export Restraints: UK Restrictions on Imports of Leather Footwear from Eastern Europe

Paul Brenton and L. Winters

282: How Do Fixed-Exchange-Rates Regimes Work? The Evidence from the Gold Standard, Bretton Woods and the EMS

Alberto Giovannini

281: Income Taxes and Women's Economic Dependency: A Comparison of West Germany and Sweden

Siv Gustafsson

280: Imperfect Competition, Underemployment Equilibria and Fiscal Policy

Marco Pagano

279: Daycare Subsidies and Labor Supply in Sweden

Siv Gustafsson and Frank Stafford

278: Gender Discrimination in the British Labour Market: A Reassessment

John Ermisch and Robert Wright

277: International Capacity Choice and National Market Games

Anthony Venables

276: Strategic R&D Policy

John Beath, Yannis Katsoulacos and David Ulph

275: The Poverty Trap and the Laffer Curve: What Can the GHS Tell Us?

Paul Ashton and A. Patrick Minford

274: Macroeconomic Policy Design Using Large Rational Expectations Models: Methodology and Applications

Nicos Christodoulakis, Jessica Gaines and Paul Levine

273: Foreign Lending in the Interwar Years: The Bondholders' Perspective

Barry Eichengreen and Richard Portes

272: Settling Defaults in the Era of Bond Finance

Barry Eichengreen and Richard Portes

271: Output, Inflation and Commodity Prices

Thomas Moutos and David Vines

270: Monetary and Fiscal Policy in Interdependent Economies with Capital Accumulation, Death and Population Growth

Frederick (Rick) van der Ploeg

269: Voting on the Budget Deficit

Alberto Alesina and Guido Tabellini

268: Housing, Wages and UK Labour Markets

Olympia Bover, John Muellbauer and Anthony Murphy

267: Regulation Games

Richard Gilbert and David M Newbery

266: The International Monetary System: An Analysis of Alternative Regimes

Marcus Miller and John Williamson

265: Error Correction Models, Co-integration and the Internal Model Principle

Mark Salmon

264: Technical Progress, Global Imbalances and World Economic Recovery Without Inflation

David Vines

263: The Economic Consequences of Population Ageing in Advanced Societies

Paul A Johnson

262: Wages and Unemployment Half a Century on

A. Patrick Minford

261: Moral Hazard and Limited Liability in the Market for Loans: Credit Restriction Versus Credit Rationing

Anindya Banerjee and Timothy Besley

260: Some Thoughts on the Role of Fiscal Policy in Stabilization and Structural Adjustment in Developing Countries

Willem Buiter

259: The Ghost of PAR? Public Expenditure Planning Beyond Plowden

Nicholas Bosanquet

258: Can International Policy Coordination Really Be Counterproductive?

Carlo Carraro and Francesco Giavazzi

257: Liquidity-Constrained Households in an Italian Cross-Section

Tullio Jappelli and Marco Pagano

256: Traded Goods, Competitiveness and Aggregate Fluctuations in the United Kingdom

George Alogoskoufis

255: A Political Model of Credibility

A. Patrick Minford

254: Intergenerational Transfers and Public Expenditure on the Elderly in Modern Britain

J C Falkingham and Paul A Johnson

253: External Debt, Capital Flight and Political Risk

Alberto Alesina and Guido Tabellini

252: Duration of Marriage, Fertility and Female Employment Opportunities in England and Wales in 1911

Nicholas Crafts

251: Decentralised Policies and Efficient Trade-Offs: An Essay on the Costs of Uncoordinated Fiscal and Monetary Policies

Andrew Hughes Hallett and Maria Luisa Petit

250: Exchange Rates and the EMS: Assessing the Track Record

Michael Artis and Mark Taylor

249: Counting the Cost of Voluntary Export Restrictions in the European Car Market

Alasdair Smith and Anthony Venables

248: North-South Growth and the Terms of Trade

Hassan Molana and David Vines

247: Wealth Targets, Exchange Rate Targets and Macroeconomic Policy

Andrew Blake, David Vines and Martin Weale

246: Monetary Policy and Fiscal Policy: Impact Effects with a New Keynesian `Assignment' of Weapons to Targets

James Meade and David Vines

245: The European Monetary System and the Franc-Mark Asymmetry

Daniel Cohen, Jacques Melitz and Gilles Oudiz

244: Consumption and Capital Market Imperfection: An International Comparison

Tullio Jappelli and Marco Pagano

243: Brazilian Debt: A Requiem for Muddling Through

Eliana Cardoso and Rüdiger Dornbusch

242: Did Tariffs Matter That Much? Ireland since the 1920s

Cormac O'Gráda

241: The Swinging Dollar: Is Europe Out of Step?

Charles Wyplosz

240: Exchange Rates and Policy Coordination in an Asymmetric Model

Peter Kenen

239: Resolving Debt Crises: An Historical Perspective

Barry Eichengreen

238: Purchased Child Care, Optimal Family Size and Mother's Employment

John Ermisch

237: A Labour-Based Theory of International Trade

A. Patrick Minford

236: Covered Interest Arbitrage and Market Turbulence: An Empirical Analysis

Mark Taylor

235: International Monetary Cooperation under Tariff Threats

Giorgio Basevi, Flavio Delbono and Vincenzo Denicolo'

234: Women's Wages in Full- and Part-Time Jobs in Great Britain

John Ermisch and Robert Wright

233: Completing the Internal Market in the European Community: Some Industry Simulations

Alasdair Smith and Anthony Venables

232: Wage Setting and Labour Market Adjustment in Europe, Japan and the USA

George Alogoskoufis and Alan Manning

231: International Capital Mobility and Tax Evasion

Alberto Giovannini

230: An Econometric Investigation of North-South Interdependence

Michael Beenstock

229: Fixed Investment and the Technology Gap in the UK

Michael Beenstock and Chris Whitbread

228: The Time Variation of Risk and Return in the Foreign Exchange and Stock Markets

Alberto Giovannini

227: Does Time Inconsistency Matter?

Paul Levine

226: Domestic Politics and the International Coordination of Fiscal Policies

Guido Tabellini

225: Can Public Spending Cuts be Inflationary?

Willem Buiter

224: A Search Model of Optimal Pricing and Production

Steve Alpern and Dennis Snower

223: Production Decisions under Demand Uncertainty: The High-Low Search Approach

Dennis Snower

222: Completing the European Internal Market: Some Notes on Trade Policy

L. Winters

221: Evaluating the Extended Target Zones Proposal for the G3

David Currie and Simon Wren-Lewis

220: On Optimal Stabilization Policy and Nominal Income Targets in an Open Economy

George Alogoskoufis

219: Monetary Discipline and Cooperation in the European Monetary System: A Synthesis

Jacques Melitz

218: Optimum Trade Policy Towards Imperfectly Competitive Industries: Two Norwegian Examples

Sonja Daltung, Gunnar Eskeland and Victor D Norman

217: International Interdependence and Policy Coordination in Economies with Real and Nominal Wage Rigidity

Frederick (Rick) van der Ploeg

216: The EMS, The Dollar and the Yen

Rüdiger Dornbusch

215: Competitiveness, Wage Adjustment and Macroeconomic Policy in a Small Open Economy

George Alogoskoufis

214: On Optimal World Stabilization and the Target Zones Proposal

George Alogoskoufis

213: Econometric Modelling of the Birth Rate

Eric De Cooman, John Ermisch and Heather Joshi

212: Till Debt Do Us Part: The US Capital Market and Foreign Lending, 1920-1955

Barry Eichengreen

211: Leaving Home and Living Alone: An Historical Perspective

Richard Wall

210: The Current Global Economic Situation, Outlook and Policy Options, with Special Emphasis on Fiscal Policy Issues

Willem Buiter

209: Determinants of the Equilibrium Real Exchange Rate

J. Peter Neary

208: The Cash Opportunity of Childbearing: An Approach Using British Data

Heather Joshi

207: Unemployment in Interwar Britain: Dole or Doldrums?

Barry Eichengreen

206: Perfect Equilibrium in a Competitive Model of Arms Accumulation

Aart de Zeeuw and Frederick (Rick) van der Ploeg

205: Monetary and Fiscal Policy in a `Hartian' Model of Imperfect Competition

Neil Rankin

204: Profit Sharing in British Industry, 1865-1913

Timothy Hatton

203: Savings Behaviour, Fertility and Economic Development in Nineteenth Century Britain and America

Paul A Johnson

202: The Structured Dependency of the Elderly: A Critical Note

Paul A Johnson

201: Policy Interdependence: Does Strategic Behaviour Pay? An Empirical Investigation Using the Liverpool World Model

Matthew Canzoneri and A. Patrick Minford

200: Means of Payment in Takeovers: Results for the UK and US

Julian R Franks, Robert Harris and Colin Mayer

199: On the Effectiveness of Discrete Devaluation in Balance of Payments Adjustments

Louka Tarsitsa Katseli

198: International Cooperation and Reputation in an Empirical Two-Bloc Model

David Currie, Paul Levine and Nic Vidalis

197: Economic Burden or Benefit? A Positive View of Old Age

Pat Thane

196: Cooperation, Harassment, and Involuntary Unemployment: An Insider-Outsider Approach

Assar Lindbeck and Dennis Snower

195: Exchange Rate Protection and Exchange Rate Conflict

Christopher Bliss and Vijay R Joshi

194: Juvenile Unemployment in Interwar Britain: The Emergence of a Problem

Barry Eichengreen