The effectiveness of the foreign exchange market interventions conducted by the Deutsche Bundesbank during the Louvre period to alter either the level or the volatility of the $/DM spot rate is examined. Volatility quotes implicit in foreign currency options are employed to recover the impact of...

Economists, in particular Bresnahan and Trajtenberg (1995), have recently drawn attention to the importance of generic or general purpose technologies (GPTs) and their significance for economic growth. An interesting part of this research identies coordination problems in the introduction of...