. The ultimate success of the negotiations largely depends on the attitudes of the USA, the EC and Japan. What are the main …

of the EC, the USA and Japan in international trade? How dependent are these three economic powers on the world market …The growing importance of Japan on the world market has brought with it changes in the international division of labour … and a shift in the focus of the expansion in world trade away from the EC and the USA. What factors determine the shares …

, Europe and Japan allowing for fiscal multipliers to vary across recessions and booms. We also estimate ex ante probabilities …