Table of Contents: Herbert Giersch, Gottfried Haberler, Jan Tumlir, Juergen B. Donges, Bela Balassa, Europe's Role in the World Economy; Fritz Machlup, Johann Schollhorn, Norbert Walter Pascal Salin, Roland Vaubel, Roads to Monetary Union; Willi Albers, Fritz Neumark, Carl S. Shoup, Dieter...

The Council for Mutual Economic Assistance (CMEA) was established by Bulgaria, Czechoslovakia, Hungary, Poland, Romania and the Soviet Union in 1948 as a response to the Marshall Plan. But unlike the Marshall Plan it provided no financial assistance to its member countries and its activities...

The United States has often been criticized for protectionist measures taken against developing country products. Yet, average agricultural protection has reemained practically nil in the U.S. over time, while rising in the European Common Market (E.C.M) and, even more, Japan. It further appears...

This paper reports on tests of alternative hypotheses as to the effects of a budget deficit, examines the influence of the size of the government on economic growth, and investigates the impact of public investment on private investment, total investment, and economic growth. The findings have...

Table of Contents: Herbert Giersch, Gottfried Haberler, Jan Tumlir, Juergen B. Donges, Bela Balassa, Europe's Role in the World Economy; Fritz Machlup, Johann Schollhorn, Norbert Walter Pascal Salin, Roland Vaubel, Roads to Monetary Union; Willi Albers, Fritz Neumark, Carl S. Shoup, Dieter...

This paper presents a quantitative analysis of adjustment programmes. This is done by charting changes in various performance indicators following the receipt of the first adjustment loan, and by further contrasting the results with those for the comparator group of countries that did not...