Economic Policyis written for all those with an informed interest in economic policy problems. All articles are submitted to rigorous scrutiny by a panel of distinguished economists from around the world, resulting in a volume of authoritative and accessible articles, each followed by the comments of panel members.

• Economic Policy has earned a reputation around the world as the one publication that always identifies current and emerging policy topics early.

• Papers are specially commissioned from first-class economists and experts in the policy field.

• The editors are all based at top European economic institutions and each paper is discussed by a panel of distinguished economists.

• This unique approach guarantees incisive debate and alternative interpretations of the evidence.

Economic Policyhas earned a reputation around the world as the one publication that always identifies current and emerging policy topics early. It discusses key international issues when they matter and is invaluable for keeping track of important topics. Economic Policygives you hot topics, from the experts. Papers are specially commissioned from first-class economists and experts in the policy field. The editors are all based at top European economic institutions and each paper is discussed by a panel of distinguished economists. Their discussions are published at the end of each paper. This unique approach guarantees incisive debate and alternative interpretations of the evidence.

Georges de Menilworks at the Delta Ens, France.

Richard Porteslectures in the Department of Economics, London Business School.

Hans-Werner Sinnis based at the Centre for Economic Studies, University of Munich.

All three are Senior Editors of Economic Policy.

1. Editors' Introduction.

2. More power to the European parliament?: Abdul G. Noury and Gerard Roland.

3. Delocation and European integration: is structural spending justified?: Karen Helene Midelfart-Knarvik and Henry G. Overman.

4. Unions and labour market instititutions in Europe: Daniele Checchi and Claudio Lucifora.

5. Can training and employment subsidies combat European unemployment?: Jochen Kluve and Christoph M. Schmidt.

6. Corporate income tax reforms and international tax competition: Michael P. Devereux, Rachel Griffith and Alexander Klemm.

7. A European VAT on financial services?: Harry Huizinga.

8. Analysis of spreads in the dollar/euro and deutchemark/dollar foreign exchange markets: Charles Goodhart, Ryan Love, Richard Payne and Dagfinn Rime.

9. Features of the euro's role in international financial markets: Carsten Detken and Philipp Hartmann.

10. Theoretical perspective on euro liquidity: Richard K. Lyons.