Challenges to the World Economy

Germany's Economic Ills.- Economic Transformation in East Germany: Has Economic Theory Been Helpful?.- Economic Policy in Germany and the Role of the Economic Adviser.- It's Always Nice to Meet an Old Friend: Reflections on the NAIRU and New Estimates.- Germany Needs a National Stability Pact.- Social Model: Lessons for Developing Countries.- The Design of EU Trade Policies: Rationale, Results and Requirements for Reforming Regionalism.- European Fiscal Policies Under the Stability Pact: Some First Insights.- Prospective Trade Effects of Eastern EU Enlargement.- Saving and Investment in Transition Economies: Russia and the Central and Eastern European Countries.- Global Markets and National Sovereignty.- Spatial Impacts of the New Economy: Death of Distance and Decline of Cities?.- Comparative Regulatory Structures and Competitive Performance of Financial Systems.- Financial Cycles, Real Cycles and Monetary Policy.- On the Structure of Industries: Findings from the Automotive Branch.- About the Benefits of Fluctuations.- Linkage of Trade and "Non-trade" Issues: Competition Policy and Labor Standards.- Escape and Entry Mechanisms in the Multilateral Trade System.- Changing Horses and Hedging.- On a Misconception Concerning the Classical Gains from Trade.- The Japanese Slump.- Corrective Environmental Taxation and Distortionary Taxation Revisited.- Marketable Emission Permits and the Pattern of Foreign Trade: A Heckscher-Ohlin Approach.- Strategic Environmental Standards and Plant Location.- Resource Extraction and Hartwick's Rule Under Terms of Trade Uncertainty.- Tall Smokestacks and Transfrontier Pollution: A Tale from Orestia and Trebeisia.- Will Global Warming be Controlled? Reflections on the Irresolution of Humankind.- Bibliography of Horst Siebert.