The papers in this issue are concerned with the behaviour of exchange rates - their fundamental determinants, adjustment processes and policy implications. The authors combine theory with empirical evidence, test hypotheses as well as show the relevance of their analysis for policy. This...

Our paper investigates the effect of tobacco control policies on smoking initiation in eleven European countries. We analyze longitudinal data of individuals by using information about their age of onset of smoking. We apply hazard rate models to study smoking initiation. Thus, we are able to...