Climate change has impacted viticulture in almost all of the Mediterranean area, mainly because of temperature rises and changes in precipitation patterns, thus influencing yield, quality, and the management of grape production. One of the meas-ures to mitigate these effects is the adoption of...

This paper challenges the conventional view that foreign exchange risk premiums are small, not volatile, and unrelated to macroeconomic variables. For the Italian lira (1987-94), unconditional risk premiums—constructed using survey data to measure exchange rate expectations—are found to be...

This paper compares the experience with exchange-rate–based stabilization (ERBS) of four Western European countries with that of high-inflation developing countries. In general, the behavior of key macroeconomic variables—inflation, output, demand, the real exchange rate and the current...