Challenges to the World Economy

Front Matter....Pages I-VII
Introduction....Pages 1-4
Front Matter....Pages 5-5
Germany’s Economic Ills....Pages 7-16
Economic Transformation in East Germany: Has Economic Theory Been Helpful?....Pages 17-31
Economic Policy in Germany and the Role of the Economic Adviser....Pages 33-43
It’s Always Nice to Meet an Old Friend: Reflections on the NAIRU and New Estimates....Pages 45-53
Germany Needs a National Stability Pact....Pages 55-64
Front Matter....Pages 65-65
Social Model: Lessons for Developing Countries....Pages 67-79
The Design of EU Trade Policies: Rationale, Results and Requirements for Reforming Regionalism....Pages 81-96
European Fiscal Policies Under the Stability Pact: Some First Insights....Pages 97-108
Prospective Trade Effects of Eastern EU Enlargement....Pages 109-120
Saving and Investment in Transition Economies: Russia and the Central and Eastern European Countries....Pages 121-136
Front Matter....Pages 137-137
Global Markets and National Sovereignty....Pages 139-149
Spatial Impacts of the New Economy: Death of Distance and Decline of Cities?....Pages 151-164
Comparative Regulatory Structures and Competitive Performance of Financial Systems....Pages 165-181
Financial Cycles, Real Cycles and Monetary Policy....Pages 183-199
On the Structure of Industries: Findings from the Automotive Branch....Pages 201-214
About the Benefits of Fluctuations....Pages 215-230
Front Matter....Pages 231-231
Linkage of Trade and “Non-trade” Issues: Competition Policy and Labor Standards....Pages 233-243
Escape and Entry Mechanisms in the Multilateral Trade System....Pages 245-259
Changing Horses and Hedging....Pages 261-275
Front Matter....Pages 231-231
On a Misconception Concerning the Classical Gains from Trade....Pages 277-279
The Japanese Slump....Pages 281-290
Front Matter....Pages 291-291
Corrective Environmental Taxation and Distortionary Taxation Revisited....Pages 293-307
Marketable Emission Permits and the Pattern of Foreign Trade: A Heckscher-Ohlin Approach....Pages 309-323
Strategic Environmental Standards and Plant Location....Pages 325-339
Resource Extraction and Hartwick’s Rule Under Terms of Trade Uncertainty....Pages 341-351
Tall Smokestacks and Transfrontier Pollution: A Tale from Orestia and Trebeisia....Pages 353-366
Will Global Warming be Controlled? Reflections on the Irresolution of Humankind....Pages 367-381
Back Matter....Pages 383-402