<DIV><DIV>It is rare for countries to give up their currencies and thus their ability to influence such critical aspects of their economies as interest and exchange rates. Yet ten years ago a number of European countries did exactly that when they adopted the euro. Despite some dissent, there were a...</div></div>

<DIV>The recent recession has brought fiscal policy back to the forefront, with economists and policy makers struggling to reach a consensus on highly political issues like tax rates and government spending. At the heart of the debate are fiscal multipliers, whose size and sensitivity determine the...</div>

The distinguished International Seminar on Macroeconomics has met annually in Europe for over thirty years. The topics covered in this year’s volume fall into four categories: exchange rates, global business cycles, the financial crisis, and unemployment and the Great Recession. The chapters...

<DIV><DIV><DIV><P>The distinguished International Seminar on Macroeconomics (ISoM) has met annually in Europe for thirty years. The papers in <I>ISoM 2007 </I>discuss interest setting and central bank transparency; expectations, monetary policy, and traded goods prices; public investment and the golden rule; the role of...</i></p></div></div></div>

The recent Great Recession has once again brought fiscal policy to the forefront of discussions between economists and policy makers. While monetary policy is left to the experts, the highly-political nature of determining tax rates and spending programs in fiscal policy has made it difficult...

<DIV>Is the federal budget deficit a result of congressional deadlocks, gross miscalculation of economic trends, or a Republican strategy to tie the budgetary hands of future Democratic leadership? To what extend does the partisan split between Congress and the executive branch constrain the...</div>