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Economic Policy 70


Top economists provide a concise and accessible evaluation of major developments in trade and trade policy. Examination of key issues pertinent to the multinational trading system, as well as regional trade arrangements and policy developments at the national level. Provides up-to-date assessments of the World Trade Organization's current Trade Policy Reviews.

Economic Policy is 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.

The Managing Editors of Economic Policy:
Tullio Jappelli is CSEF Director and Professor of Economics at the University of Naples Federico II.

Philip Lane is Professor of International Macroeconomics at Trinity College Dublin.

Philippe Martin is Professor at the Université Paris-1 Panthéon Sorbonne and CERASENPC and a Research Fellow at CEPR.

Jan van Ours is Professor of Economics at Tilburg University and Professorial Fellow at Melbourne University.

The Senior Editors of Economic Policy:
Georges de Menil works at the Delta Ens, France.

Richard Portes lectures in the Department of Economics, London Business School.

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

Editors’ introduction

1. The eurozone crisis: how banks and sovereigns came to be joined at the hip (Ashoka Mody and Damiano Sandri)

2 Sovereign spreads in the eurozone: which prospects for a Eurobond? (Carlo Favero and Alessandro Missale)

3 Capital access bonds: contingent capital with an option to convert (Patrick Bolton and Frédéric Samama)

4 Financial frictions, financial integration and the international propagation of shocks (Luca Dedola and Giovanni Lombardo)