1. CAP Reform: Louis Mahe and Francois Ortalo--Mayne (ENSA, Rennes and London School of Economics). 2. The Effects and Policy Implications of State Aids to Industry: Tim Besley and Paul Seabright (London School of Economics and University of Cambridge). 3. When is Fiscal Adjustment an Illusion?: William Easterly (World Bank). 4. The Structure of European Football: Stefan Symanski and Thomas Hoehn (LECG Ltd and Imperial College, London). 5. EMU: Capital Market Integration and the Real Output Effect: Georges de Menil (DELTA, Paris). 6. The Public Policy Implications of Increasing Retailer Power: Paul W Dobson and Michael Waterson (Loughborough University and University of Warwick).