1. Introduction Francisco Torres and Francesco Giavazzi
2. Economic and monetary union: critical notes on the Maastricht Treaty revisions Niels Thygesen
Discussion Lorenzo Bini Smagha, Victor Gaspar, Jose Vinals
3. The design of optimal fiscal rules for Europe after 1992 Giancarlo Corsetti and Nouriel Roubini
Discussion Axel A. Weber
4. Contracts, credibility and common knowledge: their influence on inflation convergence Marcus Miller and Alan Sutherland
Discussion David Backus, Michael Dooley
5. Inflation in fixed exchange regimes: the recent Portuguese experience Sergio Rebelo
Discussion Michael Moore, Guido Tabellini
6. Models of economic integration and localised growth Giuseppe Bertola
Discussion Joao Cesar das Neves, Charles Wyplosz
7. Shocking aspects of European monetary integration Tamim Bayoumi and Barry Eichengreen
Discussion Giorgio Basevi, Patrick Minford
8. Lessons of Massachusetts for EMU Paul Krugman
Discussion Alessandra Casella, Paul de Grauwe
9. Financial and currency integration in the European monetary system: the statistical record Jeffrey Frankel, Steven Phillips and Menzie Chinn
Discussion Rudiger Dornbusch, Paolo Onofri
10. Currency substitution: from the policy questions to the theory and back Matthew Canzoneri, Behzad Diba and Alberto Giovannini
Discussion Lucas Papademos, Antonio S. Mello
11. Coordination of capital income taxes in the economic and monetary union: what needs to be done? Peter B. Sorenson
Discussion Alberto Giovannini
Index.
