...Ilker Domac; Magda Kandil This paper examines the performance of nominal income targeting as a possible direction for monetary policy. The existing literature consists of historical counterfactual simulations to determine how economic performance might have differed if this policy had been adopted...

...Girijasankar Mallik; Anis Chowdhury This paper examines the relationship between inflation and real income in Australia, Canada, Finland, New Zealand, Spain, Sweden and the UK which have adopted a “formal” policy of low or zero inflation target. Using cointegration analysis and a vector error...

...Ho‐Chuan (River) Huang; Chung‐Hua Shen This paper proposes a probit regression with autocorrelated errors (PAR) to estimate the reaction function of monetary policy in Taiwan using newly constructed binary monetary indicators. We develop a practical sampling scheme via the Gibbs sampling algorithm...

...Juan J. de Lucio; Mario Izquierdo This paper contrasts the different regional effects of an homogeneous monetary policy, and studies the local characteristics that underlie these differential responses. To this purpose, we use Spanish regional data and estimate a vector autoregression (VAR) model...

...Christian Richter In summary, this book gives a good description of several institutions of the EU and its policies. When it comes to economic policy, some caution is recommended, in terms both of using the book for teaching and of its policy implications. References Demertzis, M., Hughes...

...Peter R. Senn The focus of this paper is the economic theory of the plans for the European Monetary Union. Part 1 demonstrates that economists, bankers and policy makers know very little about monetary policy. Part 2 explains the errors of the common practice of defining money by its functions...

...Prathivadi Bhayankaram Anand India embarked on economic reforms in July 1991, in the wake of a balance of payments crisis. In this article, an attempt is made to review two books and a set of World Bank reports concerning the progress of these reforms. Issues concerning economic policy, impact...

...Donal Bredin; Stilianos Fountas The paper tests for long‐run monetary policy convergence and short‐run policy interactions in seven ERM countries over the 1979‐1992 period using the approach of multivariate cointegration and Granger‐causality tests. The authors provide evidence for very little...

...Xin Xie This paper studies strategic R&D policy with endogenous timing of firms’ moves within a two‐period framework. Within this framework the government can make a policy commitment only in the second period due to an information lag vis‐à‐vis the firms. The firms can, if they choose...

...Faizullah Khilji William R.   Cline . International Economic Policy in the 1990s . Cambridge : MIT Press   1994 . xiv + 260 pp © MCB UP Limited 1998 --> Economics History Policy World economy As one would expect of conference proceedings...

... on economic policy. Argues that his views on theory and policy were closely linked, however. Gives a concise statement of Stackelberg’s view on the post‐Second World War economic order in Germany. Points out that he argues strongly against (central) planning of the economic process, makes the important...

...Juan Velarde Fuertes Provides an overview of the evolution of Spanish economic policy throughout the nineteenth century and considers the economic thought of the Spanish professor of this time. Discusses the work of Heinrich von Stackelberg while he was based in Spain from 1943. Suggests...

...V. Anagnostaki; H. Louri Reports an attempt to evaluate the role of industrial policy in affecting entry in Greek manufacturing industry in 1982‐1988. Finds that industrial policy favouring the restructuring of Greek manufacturing towards capital‐intensive and high technology sectors, affected...

...Heinz G. Grossekettler Explains and outlines the ideas of the Freiburg School. Points to the fact that the constitutive (structurizing) and regulative principles for economic policy developed by this school need operationalization in order to serve as a compass for economic policy. Presents...

...Luis A. Riveros Discusses the short – and long‐term labour market policies needed in Czechoslovakia to achieve successfully the economic reforms envisaged in the current economic programme. Given the similarities with other Eastern European countries in economic transition, the policy implications...

...Hans J.G.A. van Mierlo Reconsiders tax reform and economic emancipation of women with respect to public policy formation in The Netherlands. In particular,investigates the attempts of organised interest groups of the Dutch women′s liberation movement during the 1980s to influence the public policy...

...Chien‐Hsun Chen A general equilibrium model for mainland China′s open economy is formulated and used to examine the effect of stabilisation policy on the internal and external balances. An expansionary monetary or fiscal policy in particular through its effect on consumption and labour supply...

...Chien‐Hsun Chen The effectiveness of combination monetary feedback rule and fiscal policy under rational expectations is examined. The fiscal policy takes into account not only a progressive tax structure but also government expenditure. The model consists of IS and LM relationships and a Lucas...