This article investigates the mechanisms by which the cities of the United States smooth out fluctuations in their income. Contributions for social security and government transfers (the government channel) take the bulk of smoothing (17 per cent), and intercity mobility ranks high: about 6 per...

This paper addresses the issue of how to organise a two-product industry with interdependent demands when the regulator cannot observe the demand level of the goods produced. Two industry structures are compared: a multiproduct monopoly, in which an informed firm produces both goods, and a...

The provisions on closer co-operation are the main conceptual and procedural innovation introduced by the Treaty of Amsterdam. This article examines the philosophy of the new system through a systematic review of the methods and the underlying principles. It then discusses the meaning and...