The Scandinavian Journal of Economics
VOL. 101, NO. 1, 1999


ARTICLES

Does Increased International Influence Cause Higher Stock Market 1
Volatility? By John Hassler

The Transition to Market Economies in an Endogenous Growth Model 11
with Altruistic Agents. By Jie Zhang

How Will EMU Affect inflation and Unemployment in Europe? By Hans 33
Peter GrOner and Carsten Hefeker

Lower Tax Progression, Longer Hours and Higher Wages. By Claus 49
Thustrup Hansen

Fiscal Institutions and Wage Bargaining in the Local Public Sector. By 67
Bjarne Str0m

Measuring Attitudes Towards Inequality. By Yoram Amiel, John Creedy 83
and Stan Hum

Disability Retirement in a Welfare State. By Espen Bratberg 97

Optimal Tax-Transfer Systems and Redistributive Policy. By Johan 115
Fellman, MarkusJantti and Peter J. Lambert

Discount Chains and Brand Policy. By Tommy Staahl Gabrielsen and Lars 127
S^rgard

Rehabilitating Weak Complementarity. By Jon R. Neill 143

Editors' Report 149

Index of Contents 153

______________________

The Scandinavian Journal of Economics
VOL. 101 , NO. 2 , 1999



THE NOBEL MEMORIAL PRIZE IN ECONOMICS 1998
Press Release from the Royal Swedish Academy of Sciences ...... 157

Amartya K. Sen's Contributions to the Study of Social Welfare. By 163
Kenneth Arrow .............................

The Contributions of Amartya Sen to Welfare Economics. By Anthony 173
B.Atkinson ...............................

Bibliography of Amartya K. Sen's Publications, 1957-1998. ....... 191

ARTICLES

Political Stock Markets and Unreliable Polls. By Peter Bohm and Joakim 205
Sonnegärd ...............................

Pricing-to-Market in Swedish Exports. By Annika Atextus and Anders 223
Vredin..................................

Stabilisation, Policy Targets and Unemployment in Imperfectly 241
Competitive Economies. By George J. Bratsiotisand Christopher Martin

Profit Sharing, Capital Formation and the NAIRU. By Jürgen Jergeränd ' 257
Jochen Michaelis............................

Virtual and Composite Fundamentals in the ERM. By Klaas H. W. Knot 277
and Jan-Egbert Sturm. .........................

Temporary Migration, Human Capital and Language Fluency of Migrants. 297
By Christian Dustmann .........................

Residential Mobility and the Housing Market in a Two-sector Neoclassical 315
Growth Model. By AnnaM.Hardman and Yannis M. loannides.

______________________

The Scandinavian Journal of Economics
VOL. 101 , NO. 3 , 1999

ARTICLES
Inflation Targeting: Some Extensions. By LarsE. O. Svensson 337

Do Monetary Unions Make Economic Sense? Evidence from the
Scandinavian Currency Union, 1873-1913. By U. Michael Bergman 363

The Labour Input Response to Permanent Changes in Output: An Errors-
in-Variables Analysis Based on Panel Data. By Erik Biorn and Tor
JakobKIette 379

Parametric Approaches to Productivity Measurement: A Comparison
among Alternative Models, By Subai C. Kumbhakar, Almas Heshmati
and LennartHjalmarsson 405

Education Subsidies, Social Security and Growth: The Implications of a
Demographic Shock. By Frederic Docquier and PhilippeMichet 425

Schooling, Training, Growth and Minimum Wages. By Morten 0. Ravn
and Jan Hose Sfzfrensen 441

Investors Facing Opportunistic Governments: Is it Really Good to "Know
the Market" before Investing? By Michaela Erbenovaand Steinar
Vagstad 459

Labour Hoarding, Price Rigidity and the Theory of Imperfect Competition
under Uncertain Demand. By EricToulemonde 477

BOOK REVIEW

Hannesson, Rognvaldur: Petroleum Economics-Issues and Strategies of
Oil and Natural Gas Production (Marian Radetzki) 489

_____________________