Event studies represent an increasingly popular method to evaluate the welfare effects of economic policy decisions. The basic idea is that stock market reactions to the announcement of policy decisions contain superior information about the welfare effects of these decisions. This paper...

The author discusses the question whether autarky will remain a central national policy goal in Peking after the present ruling group relinquishes power. He comes to the conclusion that, although China's foreign trade particularly with the Western world will expand rapidly, Peking will continue...

It has been quite obvious for several years already that the attempts to achieve the aim of price stability are running into the greatest difficulties. While the rates of inflation are escalating in almost all countries, it is becoming increasingly clear at the same time that the authorities...

The creation of a single currency is deemed to produce further heterogeneity in regional trade, as regions differ in their exposure to trade with other European countries. It is possible to disentangle two separate effects on bilateral trade, namely the “exchange rate volatility effect”...