The International Economic Association - Acknowledgements - List of Contributors and Participants - Abbreviations and Acronyms - Preface - Introduction; H.Frisch & A.Worgotter - PART 1: MONETARY POLICY IN OPEN ECONOMIES - Exchange-Rate-Based Stabilisation under Imperfect Credibility; G.A.Calvo & C.A.V gh - Devaluation, the Terms of Trade and Investment in a Keynesian Economy; M.Gavin - Sheet Anchors, Fixed Price Anchors and Price Stability in a Monetary Union; A.J.H.Hallett, D.Vines & M.Anthony - Foreign Supply Shocks, Wage Indexation and Optimal Monetary Policy; F.X.Hof - PART 2: DOMESTIC ADJUSTMENT TO FOREIGN SHOCKS - The Impact of Fiscal and Productivity Shocks on the Natural Rate of Unemployment in a Two-Country World; E.S.Phelps & H.T.Hoon - Shocks and Aggregate Low Frequency Variability in a Small Open Economy; C.C.Starck - Real Shocks and the Real Exchange Rate; E-M.Claassen - Economic Adjustment and Growth in Small Developing Countries; D.Worrell - PART 3: LABOUR AND CAPITAL MARKETS IN OPEN ECONOMIES - Influence of Fiscal Shocks on Exchange Rate Volatility under Imperfect Capital Mobility and Asset Substitutability; S.Gazioglu - Domestic and Foreign Shocks to Employment and Capital Accumulation in Germany; O.Landmann & J.Jerger - Capital Taxation, Housing Investment and Wealth Accumulation in a Small Economy; S.B.Nielsen & P.B.Sorensen - Underemployment Equilibria in an Empirical Macromodel for Austria P.Neudorfer & K.Pichelmann - PART 4: INTERDEPENDENCE OF OPEN ECONOMMIES - Measurement Errors and the Convergence Hypothesis; E.E.Leamer - Three Parity Conditions in International Finance; R.C.Marston - Endogenous Growth, Convergence and Fiscal Policies in an Interdependent World; G.S.Alogoskoufis & F.van der Ploeg - Consistent Conjectural Equilibria and Economic Policies Coordination; H.Sterdyniak & P.Villa - PART 5: BUBBLES VERSUS FUNDAMENTALS: MODELLING EXCHANGE RATE BEHAVIOUR - Stochastic Shocks, Fads annd Exchange Rate Fundamentals: an Empirical Evaluation of the Target Zone Proposal; N.M.Christodoulakis - The Theory of Exchange Rate Determination and Exchange Rate Forecasting; G.Gandolfo, P.C.Padoan & G.De Arcangelis - A Chaotic Monetary Model of the Exchange Rate; P.De Grauwe & H.Dewachter - Theories, Consistent Expectations and Exchange Rate Dynamics; M.Goldberg & R.Frydman - Bandwagon Effects, or Rational Expectations in the Exchange Rate?; V.Vijayraghavan