As a response to the concerns over the scale of banking failures in several OECD countries over the last decade, this paper explores the advantages of the new market disclosure regime that was implemented in New Zealand in 1996. It finds that, although New Zealand has many special features which...

This paper argues that, despite the substantial independence offered by the Maastricht Treaty, the ESCB will wish to bind itself by a set of voluntary rules in the conduct of monetary policy. This binding will occur because of the demands of policy itself. The ESCB as such has no history of a...

Using a CGE model (PRCGEM) updated to 2002, the paper explores how WTO membership could affect earnings in 40 industries across 31 regions (and 8 regional blocks) of China during the period 2002–2007. Taking into account labour movement between regions within China, the direct contribution of...

Using recent advances in time-varying spectral methods, this research analyses the growth cycles of the core of the euro area in terms of frequency content and phasing of cycles. The methodology uses the con-tinuous wavelet transform (CWT) and also Hilbert wavelet pairs in the setting of a...

It is argued that completion of the internal market for leasing requires sufficient openness of national markets for competition between rules to take place. This study of the leasing industry in the European Economic Area analyses those aspects of the European Commission's Single Market...