Lars Calmfors (Ph.D. Stockholm School of Economics 1978) is Professor of International Economics at the Institute for International Economic Studies, Stockholm University. He is presently Chairman of the Scientific Council of the Centre for Business and Policy Studies in Stockholm and a member of the Board of the Royal Swedish Academy of Sciences, the Committee for the Prize in Economic Sciences in Memory of Alfred Nobel and the Board of the Swedish Office for Evaluation of Labour Market Policies. He was the Chairman of the Economic Council of Sweden in 1993–2002 and of the Swedish Government Commission on the EMU in 1995–96, the Director of the Institute for International Economic Studies at Stockholm University in 1995–97 and a member of the Council of the European Economic Association in 1991–96 and of the Scientific Council of the Swedish National Labour Market Board in 1991–97. His has published extensively in the fields of wage bargaining and trade union behaviour, macroeconomic policy, labour market policy and the effects of working-time reductions. At present he is doing academic research on nominal wage flexibility and the role of fiscal policy in various monetary regimes, for example the EMU.
Lars Calmfors Institute for International Economic Studies Stockholm University Universitetsvägen 10 A 106 91 Stockholm Sweden lars.calmfors@iies.su.se
Giancarlo Corsetti (Ph.D.Yale 1992) is professor of Economics at the European University Institute in Florence. He has taught at the University of Rome, Columbia, Yale and Bologna. His main field of interest is international economics. His main contributions include a tractable general equilibrium model of international transmission for the analysis of optimal monetary policy; a study of the European currency turmoil in 1992–93; a theoretical inquiry in the fiscal and financial roots of exchange rate instability; a model of the role of large players in currency and financial crises; and a widely-quoted analysis of the currency and financial crises in South East Asia, as well as an analysis of empirical tests of contagion versus interdependence. On EMU-related issues, he has contributed with a critique of the Treaty of Maastricht and an analysis of the launch of the euro, disentangling market expectations of growth differentials with the US as a driving factor of the euro-dollar exchange rate. He is the editor of the euro homepage, a popular web site tracking euro-related studies and news since 1999. Among his affiliations, in addition to being a member of the CESifo European Economic Advisory Group, he is consultant to the Bank of Italy, visiting professor at Yale University and at the New York Fed, and CEPR and CESifo research fellow.
Giancarlo Corsetti Robert Schumann Centre for Advanced Studies Via dei Rocettini 9 50016 San Domenico di Fiesole Italy giancarlo.corsetti@iue.it The Euro Homepage: www.econ.yale.edu/~corsetti/euro
Seppo Honkapohja (D.Soc.Sc., University of Helsinki, 1979) joined the University of Helsinki, Finland, in 1992 as professor of economics and is currently professor at the University of Cambridge. From 1987- 91 he was professor of economics at the Turku School of Economics and Business Adminstration. He held visiting appointments at Harvard University (1978–79), Stanford University (1982–83) and the University of Oregon (Spring 1999). Honkapohja is a member of Academia Europaea, of the Finnish Academy of Science and Letters, a fellow of the Econometric Society, a member of the Council of the European Economic Association, and a member of the Executive Committee of the International Economic Association. Major publications include Learning and Expectations in Macroeconomics (2001) with George W. Evans; The Swedish Model under Stress: A View from the Stands, (both in Swedish and English; 1997) with Thorvaldur Gylfason, Torben Andersen, Arne Jon Isachsen and John Williamson; Macroeconomic Modelling and Policy Implications (1993) editor with Mikael Ingberg; The State of Macroeconomics (1990) editor; Frontiers of Economics (1985,) editor with Kenneth J. Arrow; as well as numerous articles in international and Finnish refereed journals and collected volumes.
Faculty of Economics and Politics University of Cambridge Sedgwick Avenue, Cambridge, CB3 9DD United Kingdom seppo.honkapohja@econ.cam.ac.uk
John Kay (M.A. University of Edinburgh, Oxford University, F.B.A.) is a Fellow of St John’s College, Oxford and Visiting Professor at the London School of Economics. He has been Director of the Institute for Fiscal Studies, Chairman of London Economics, a director of several public companies, and has held chairs at the London Business School and Oxford University. His research interests are public finance and industrial organisation. Selected articles include “Vertical Restraints in European Competition Policy”, European Economic Review (1990), “The Deadweight Loss from a Tax System”, Journal of Public Economies (1980), “Uncertainty, Congestion and Peak Load Pricing”, Review of Economic Studies (1979), “A Policy in Search of a Rationale”, Economic Journal (1986). Among his numerous book publications are The British Tax System, with Mervyn King (1990); Foundations of Corporate Success (1973); The Business of Economics (1996) and The Truth about Markets (2003). In addition he has been writing a regular column in the Financial Times since 1995.
Professor John Kay johnkay.com Ltd PO Box 4026 London W1A 6NZ
Willi Leibfritz (Dr. rer. pol., University of Tuebingen 1972) is Head of the Structural Policy Analysis Division in the Economics Department at the OECD. (He participates in this study on a personal basis; the views expressed do not necessarily reflect those of the OECD.) He was Head of the Department for Macroeconomic Forecasting and Financial Markets and Head of the Department for Fiscal Studies at the Ifo Institute for Economic Research (1997–2001 and 1976–1993) and Head of the Public Economics Division in the Economics Department of the OECD (1993–1997). His fields of interest are macroeconomic analysis and forecasting, general economic policies, fiscal analysis and taxation. He has published widely in Ifo and OECD publications and in national and international journals.He is author and co-author of various economic studies. Recent publications include Generational Accounting Around The World (1999), co-edited with Alan J.Auerbach und Laurence J. Kotlikoff.
Willi Leibfritz Head of the Structural Policy Analysis Division Economics Department OECD 2, rue André Pascal 75775 Paris Cedex 16 France willi.leibfritz@oecd.org
Gilles Saint-Paul (Ph.D. Massachusetts Institute of Technology, 1990) is Professor of Economics, GREMAQ-IDEI, at the University of Toulouse.He was researcher at DELTA and CERAS, Paris, France, 1990-1997, and professor at Universitat Pompeu Fabra, Barcelona, 1997–2000. He is a fellow of CEPR, CESifo and IZA. His research interests are Economic Growth, Income Distribution, Political Economy, Labour Markets, Unemployment, and Fiscal Policy. Selected Publications include “The Political Economy of Employment Protection”, in Journal of Political Economy (2003); “Employment Protection, Innovation, and International Specialisation’’, European Economic Review (2002); “The Dynamics of Exclusion and Fiscal Conservatism’’, Review of Economic Dynamic (2001); “Economic Aspects of Human Cloning and Peprogenetics”, Economic Policy (2003); The Political Economy of Labour Market Institutions (2000); Dual Labor Markets.A Macroeconomic Perspective, (1996).
Hans-Werner Sinn With degrees from the universities of Münster and Mannheim, Sinn is Professor of Economics and Public Finance at the University of Munich and President of the Ifo Institute for Economic Research. He is also Director of CES – Center for Economic Studies – and CEO of CESifo. Sinn has been a member of the Council of Economic Advisors to the German Ministry of Economics since 1989 and a member of the Bavarian Academy of Science since 1996. He holds an honorary doctorate from the University of Magdeburg (1999) and an honorary professorship at the University of Vienna. He taught at the University of Western Ontario and held visiting fellowships at the University of Bergen, the London School of Economics, Stanford University, Princeton University, Hebrew University and Oslo University, and he has been fellow of the NBER since 1989. He received the first university prizes for his dissertation and habilitation theses as well a number of other prices and awards from various institutions. In 1999 he gave the Yrjö-Jahnsson Lectures in Economics and in 2000 the Stevenson Lectures on citizenship. From 1997 to 2000 he was president of the German Economic Association. His fields of interest include the economics of transition, risk & insurance, natural resources, monetary trade theory and public finance. In these areas he has published more than 100 scholarly articles, a number of scientific comments, more than 100 policy articles, and numerous interviews and policy statements. He has written or co-authored 15 monographs and research reports that have appeared in six languages. Among them there are six scholarly books such as Economic Decisions under Uncertainty, Capital Income Taxation and Resource Allocation, Jumpstart. The Economic Unification of Germany, or, most recently The New Systems Competition (2003).
Xavier Vives (Ph.D. UC Berkeley, 1983) is Professor of Economics and Finance and The Portuguese Council Chaired Professor of European Studies at INSEAD. He is also Research Fellow of the Center for Economic Policy Research and served as Director of its Industrial Organisation Programme in 1991–1997. He was Director of the Institut d’Anàlisi Econòmica (CSIC) in 1991–2001 and has taught at Harvard University, Universitat Autònoma de Barcelona, Universitat Pompeu Fabra, the University of California at Berkeley, the University of Pennsylvania and New York University. He is editor of the European Economic Review, coeditor of the Journal of Economics and Management Strategy and associate editor of the Rand Journal of Economics. He has been a Fellow of the Econometric Society since 1992 and has received several prizes (“Premio Juan Carlos I” in 1988, for research in social science and the “Societat Catalana de Economia” Prize, in 1996). His fields of interest are industrial organisation, economics of information, and banking and financial economics. His current research interests include dynamic oligopoly pricing, banking crisis and regulation, market microstructure and competition policy. He has published in the main international journals and is the author of Oligopoly Pricing: Old Ideas and New Tools, (1999), editor of Corporate Governance: Theoretical and Empirical Perspectives (2000), and co-editor of Capital Markets and Financial Intermediation, (1993).
John Flemming John Flemming, the first chairman of CESifo’s European Economic Advisory Group, died on August 5 2003, aged 62. John was one of Europe’s leading economists. His activities spanned both academic and public life. In Oxford University, he began his career teaching at Oriel College, and moved to a research position at Nuffield College. He finally returned to Oxford as Warden of Wadham College in 1993 after a ten year interlude at the Bank of England and as chief economist of the newly established European Bank for Reconstruction and Development. Like all John’s colleagues, we in the EEAG constantly marvelled at the range and depth of his intelligence. In a world of increasing specialism, John Flemming stood out for his ability to perceive rapidly the essentials of a diverse range of economic problems, and to offer new approaches and fresh insights to every question, including questions we had foolishly not yet thought to ask ourselves. We in the EEAG will miss not only those professional attributes, but also a personal friend: John was not only a distinguished scholar but an engaging and exhilarating companion. He continued to participate actively in our deliberations despite the pain of his final illness.We extend our sympathy to his devoted wife Jean, who often joined him at the meetings of the group.
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