Part I. Financial Issues in Open Economies: Theory: 1. Crises: the next generation? Paul Krugman

2. Solutions ? to the 'devaluation bias': some preventive measures to defend fixed exchange rates against self-fulfilling attacks Chi-Wa Yuen

3. Growth enhancing effects of bailout guarantees Aaron Tornell

4. Risk and exchange rates Maurice Obstfeld and Kenneth S. Rogoff

Part II. Financial Issues in Open Economies: Empirics: 5. Economic integration, industrial specialization, and the asymmetry of macroeconomic fluctuations Sebnem Kalemli-Ozcan, Bent E. Sorenson and Oved Yosha

6. Uncovered interest parity in crisis: the interest rate defense in the 1990s Robert P. Flood and Andrew K. Rose

7. When does capital account liberalization help more than it hurts? Carlos Arteta, Barry Eichengreen and Charles Wyplosz

8. Sources of inflation in developing countries Prakash Loungani and Phillip Swagel

Part III. Economic Growth: Theory and Empirics: 9. Growth effects and the cost of business cycles Gadi Barlevy

10. Explaining economic growth Yair Mundlak

Part IV. Public Economies: 11. Simulating fundamental tax reform in the United States David Altig, Alan J. Auerbach, Laurence J. Kotlikoff, Kent A. Smetters and Jan Walliser

12. The international macroeconomics of taxation and the case against European tax harmonization Enrique G. Mendoza

13. Home bias in portfolios and taxation of asset income Roger H. Gordon and Vitor Gaspar

14. Social dumping in the transformation process

Part V. Political Economy: 15. Do political institutions shape economic policy? Torsten Persson.