Introduction, p. 1-7
Jeffrey A. Frankel and Christopher A. Pissarides
Part I: Macroeconomic Policy and Labor Markets
1. Macroeconomic Derivatives: An Initial Analysis of Market-Based Macro Forecasts, Uncertainty, and Risk, p. 11-50
Refet S. Gürkaynak and Justin Wolfers
Comment: Christopher D. Carroll, p. 51-59
Comment: Adam Szeidl, p. 60-64
2. The Roots of Low European Employment: Family Culture? p. 65-109
Yann Algan and Pierre Cahuc
Comment: Tito Boeri, p. 110-114
Comment: Alessandra Fogli, p. 115-123
3. Shadow Sorting, p. 125-163
Tito Boeri and Pietro Garibaldi
Comment: Robert E. Hall, p. 164-166
Comment: Christopher A. Pissarides, p. 167-170
4. Globalization and Equilibrium Inflation-Output Tradeoffs, p. 171-192
Assaf Razin and Prakash Loungani
Comment: Robert G. King, p. 193-199
Comment: Kenneth D. West, p. 200-203
Part II: Implications of an Expanding Monetary Union
5. Fiscal Externalities and Optimal Taxation in an Economic Community p. 207-250
Marianne Baxter and Robert G. King
Comment: Pierpaolo Benigno, p. 251-257
Comment: Francesco Giavazzi, p. 258-259
6. Fiscal Divergence and Business Cycle Synchronization: Irresponsibility is Idiosyncratic, p. 261-298
Zsolt Darvas, Andrew K. Rose and György Szapáry
Comment: Roberto Rigobon, p. 299-304
Comment: Lucrezia Reichlin, p. 305-313
7. Dual Inflation and the Real Exchange Rate in New Open Economy Macroeconomics p. 315-349
Balázs Világi
Comment: Richard H. Clarida, p. 350-351
Comment: Refet S. Gürkaynak, p. 352-355
8. Trade Invoicing in the Accession Countries: Are They Suited to the Euro? p. 357-393
Linda S. Goldberg
Comment: Charles Engel, p. 394-398
Comment: Richard Portes, p. 399-402
