GEI Working Papers

Working papers produced by the research projects in the Global Economic Institutions Programme have begun to appear. They are available for £4/$8 each from: Subscriptions Officer, Centre for Economic Policy Research, 90-98 Goswell Road, London EC1V 7RR, UK, fax: (44 20) 7878 2999, email gei@cepr.org.

1. Two Statements on Commodity Price Risk Management
Ronald C Duncan and Christopher L Gilbert

2. International Commodity Agreements: An Obituary Notice
Christopher L Gilbert

3. The Macroeconomics of the Mexican Crisis: A Simple Two-Period Model
Gregor Irwin and David Vines

4. The Trade and Standards Debate: Overburdening or Defending the Multilateral System?
Stephen Woolcock

5. Crash! Expectational Aspects of the UK’s and the USA’s Departures from the Inter-war Gold Standard
C Paul Hallwood, Ronald MacDonald, Ian W Marsh

6. Credibility and Fundamentals: Were the Classical and Inter-war Gold Standards Well-behaved Target Zones?
C Paul Hallwood, Ronald MacDonald, Ian W Marsh

7. Comparing Global Economic Models
Peter R Mitchell, Joanne Sault, Peter N Smih, Kenneth F Willis

8. Fiscal Deficit Reductions in Line with the Maasricht Criteria for Monetary Union: An Empirical Analysis
Andrew J Hughes Hallett, Peter McAdam

9. Managing Commodity Price Instability in Newly Liberalized Economies
Ronald C Duncan, Lamon Rutten

10. The Timing of Reform
William Perraudin, Anne Sibert

11. Independent but Accountable: Walsh Contracts and the Credibility Problem
Ali al-Nowaihi, Paul Levine

12. Financial Market Integration, Global Capital Mobility and the ERM Crisis 1992–5
Geoffrey R D Underhill

13. Can Delegation be Counterproductive? The Choice of ‘Conservative’ Bankers in Open Economies
David Currie, Paul Levine, Joseph Pearlman

14. Testing for the Symmetry of Shocks Amongst the G3 Economies
Hong Bai, Stephen Hall

15. The World Bank: Its Functions and its Future
Christopher L Gilbert, Raul Hopkins, Andrew Powell and Amlan Roy

16. Phases of Imitation and Innovation in a North-South Endogenous Growth Model
David Currie, Paul Levine, Joseph Pearlman and Michael Chui

17. An Agenda for the WTO: Strengthening or Overburdening the System
Stephen Woolcock

18.Hyperinflation and Stabilization: Cagan Revisted
Marcus Miller and Lei Zhang

19. Seigniorage, Inflation and IMF Intervention
Marcus Miller and Lei Zhang

20. Sovereign Debt Buybacks Revisited
Jonathan P Thomas

21. Competition Policy and Integration: Levelling or Tilting the Playing Field
Peter Holmes

22. Is There Convergence in a Two-speed Europe? Evidence from the Labour Markets
Andrew Hughes Hallett and Maria Demertzis

23. IMF Conditionality as a Screening Device
Silvia Marchesi and Jonathan P Thomas

24. The Impact of IMF Programmes
Pinar Bagci and William Perraudin

25. Delegation and Fiscal Policy in the Open Economy: More Bad News for Rogoff’s Delegation Game
Paul Levine and Joseph Pearlman

26. The Fund, The Bank and the WTO: Functions, Competencies and Reform Agendas
David Vines

27. THE SPOT-FORWARD RELATIONSHIP REVISITED: AN ERM PERSPECTIVE
Ronald MacDonald and Michael J Moore

28. Violations of the 'Rules of the Game' and the Credibility of the Classical Gold Standard, 1880-1914'
Michael D Bordo and Ronald MacDonald

29. Development and Environment: Marital Difficulties at the World Bank
Robert Wade

30. What Future for the EU's 'Old' Regionalism?
Christopher Stevens

31. How Substantial is EU Tariff Discrimination?
Christopher Stevens

32. The Bretton Woods Institutions
A View From the Boards
Huw Evans

33. Credibility and Fiscal Policy in the ERM
Andrew Hughes Hallett, Milena Ignjatovic, Ronald MacDonald

34. A 'Bankruptcy' Procedure for Sovereign States
Marcus Miller, Lei Zhang

35. International Competition Policy: The Long March Towards a WTO Agenda
Peter Holmes, Alexander Lehmann, Francis McGowan

36. Regulatory Competition and International Harmonization
Konstantine Gatsios and Peter Holmes

37. The Width of the Band and Exchange Rate Mean-Reversion: Some Further ERM-Based Results
Myrvin Anthony and Ronald MacDonald

38. Fiscal Consolidation: An Exercise in the Methodology of Coordination
Guglielmo Maria Caporale, Michael Chui, Stephen Hall and Brian Henry

39. Evaluating the Gains to Cooperation in the G-3
Guglielmo Maria Caporale, Michael Chui, Stephen Hall and Brian Henry

40. External Shocks, Macroeconomic Policy and Growth: A Panel VAR Approach
Alessandro Rebucci

41. Coordination and Price Shocks: An Empirical Analysis
Guglielmo Maria Caporale, Michael Chui, Stephen Hall and Brian Henry

42. Realignment Expectations and the US Dollar, 1890-1897: Was There a "Peso Problem"?
C Paul Hallwood, Ronald MacDonald and Ian W Marsh

43. The "Open Regionalism" alternative to Preferential Trade Agreements: Promising, Attractive, or vulnerable to Cronyism?
Peter Sinclair and David Vines

44. The International Monetary Fund and Civil Society
Jan Aart Scholte

45. Asian Currency and Financial Crises: Lessons from Vulnerability, Crisis, and Collapse
Jenny Corbett and David Vines

46. A Krugman-Dooley-Sachs Third Generation Model of the Asian Financial Crisis
Gregor Irwin and David Vines

47. Is Article XXIV Bad?
Ben Zissimos and David Vines

48. Monetary Policy Independence in the ERM: Was there any?
Hali Edison and Ronald MacDonald (March 2000)

49. The Inter-War Gold Exchange Standard: Credibility and Monetary Independence
Michael D. Bordo and Ronald MacDonald (March 2000)

50. International Parity Relationships Between Germany and The United States: A Joint Modelling Approach
Katarina Juselius and Ronald McDonald