<DIV>Since the five largest industrial democracies concluded the Plaza Agreement in 1985, the theory and practice of international economic policy coordination has become the subject of spirited academic and public-policy debate. While some view policy coordination as crucial for the construction of...</div>

<DIV>This volume brings together nine papers from a conference on international macroeconomics sponsored by the NBER in 1985. International economists as well as graduate students in the fields of global monetary economics, finance, and macroeconomics will find this an outstanding contribution to...</div>

<DIV>This volume, presenting some of the finest new research on exchange rates and international macroeconomics, contains  papers and critical commentary by thirty-two leading economists. Taken together, these papers provide sound evidence about the effects of real and monetary factors on exchange...</div>

The early stages of transformation of centrally planned economies into market economies are examined. In the transitional phase when an economy is no longer centrally planned, but not yet market based--when it is a "previously centrally planned economy"--expectations play a key role. A model is...

Traditional analyses of budget deficits arising from tax cuts have focused on the size of the deficit and disregarded the underlying tax system. This paper examines the international effects of budget deficits under alternative tax systems. The key finding is that the consequences of tax...

Macroeconomic issues pertinent to the international and domestic effects of international VAT harmonization are highlighted, and VAT harmonization policies envisaged for Europe in 1992 are outlined. An intertemporal model is developed to analyze the incentive effects of various tax policies and...

This article documents and contrasts the degree of interdependence of key macroeconomic variables across six major industrial economies (the United States, Canada, Japan, France, the Federal Republic of Germany, and the United Kingdom) over the periods 1960-71 and 1974-82. Principal components...