- Features eight studies by leading European and North American economists.
- Covers topics such as inflation measurement, price stability, fiscal policies and monetary policy.
- Also looks at economic conditions and prospects outside the Eurozone.
- Presents essential information in non-technical language.
1. Policy Challenges of Euro Area Enlargement: Lucas Papademos.
2. The Currency Union Effect on Trade: Early Evidence from EMU: Alejandro Micco, Ernesto Stein and Guillermo Ordoñez.
3. Divergent Inflation Rates in EMU: Patrick Honohan and Philip R. Lane.
4. Inflation Measurement and the ECB's Pursuit of Price Stability: A First Assessment: Stephen G. Cecchetti and Mark A. Wynne.
5. The Execution of Monetary Policy: A Tale of Two Central Banks: Leonardo Bartolini and Alessandro Prati.
6. Monetary Transmission in the Euro Area: Early Evidence: Ignazio Angeloni and Michael Ehrmann.
7. Yield Spreads on EMU Government Bonds: Lorenzo Codogno, Carlo Favero and Alessandro Missale.
8. Fiscal Policy and Monetary Integration in Europe: Jordi Galí and Roberto Perotti.
9. Life on the Outside: Economic Conditions and Prospects Outside Euroland: David Barr, Francis Breedon and David Miles.
Giuseppe Bertola is Professore Ordinario di Economica Politica, Facolta di Scienze Politiche, Universita di Torino. .
Paul Seabright is Professor of Economics at Université des Sciences Sociales de Toulouse, a Director of Research at the Institut d'Economie Industrielle and a Research Fellow at CEPR.