INTERNATIONAL FINANCE
VOL. 2, NO.1, April 1999

Explaining Recent European Exchange-Rate Stability 1
Paul De Grauwe, Hans Dewachter and DirkVeestraeten

Institutionalization and EMU: Implications for European
Financial Markets 33
E. Philip Davis

CONSIDERING OUTPUT GOALS FOR MONETARY POLICY
efficent rules for Monetary policy 63
LAURENCE BALL

The Taylor Rule :A Useful Monetary policy benchmark for
the Euro Area? 85
Gert peersman and Frank smets

Infolation ,Volatity and Growth 117
Ruth judson and Athanasios Orphanides

COMMENTARY

European Equity Markets after the Euro:
Competition and Cooperation Across New Frontiers 139
Paul Ariman

BOOK REVIEW SECTION: Monetary Policy and
Exchange Rate Regimes
A New International Financial Architecture? 149
Geoffrey Wood

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INTERNATIONAL FINANCE
Volume 2, No. 2, July 1999

CONTENTS

Derivatives, Volatility and Price Discovery 167
Benjamin H. Cohen

Predicting Stock and Bond Returns: The Impact of Global Variables 203
David Ely and Mehdi Salehizadeh

DEALING WITH DEBT
UDROP : AContribution to the new international finance
Architecure 227
Willem H. Buiter and Anne C.Sibert

The asian Crisis : Lessons for Crisis Management and Prevention 249
Richard Brealey

Boom and Bust and Sovereing Ratings 273
Helmut Reisen and Julia von Maltzan


COMMENTARY

EMU and Banking Supervision 295
Tommaso Padoa-Schioppa

BOOK REVIEW SECTION: International Market Integration

Globalism: New Reality, Old Strategy 309
Albert Fishlow

Referee List 319

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