List of figures-- List of tables-- Preface-- List of conference participants-- 1. Introduction Matthew B. Canzoneri, Wilfred J. Ethier, and Vittorio Grilli-- 2. Transatlantic policy coordination with sticky labour markets: the reality of the real side Andrew Hughes Hallett and Yue Ma-- Discussion Nouriel Roubini-- 3. Foreign exchange intervention and international policy coordination: comparing the G3 and EMS experience Axel A. Weber-- Discussion Joseph Gagnon-- 4. Trading blocs and the sustainability of interregional cooperation Eric Bond and Constantinos Syropoulos-- Discussion Konstantine Gatsios-- 5. The effects of trade liberalization on the members of a trading bloc: a lumpy country analysis Alan V. Deardorff-- Discussion L. Alan Winters-- 6. The increased importance of direct investment in North Atlantic economic relationships: a convergence hypothesis James R. Markusen and Anthony J. Venables-- Discussion Alasdair Smith-- 7. Speculative attacks on pegged exchange rates: an empirical exploration with special reference to the European Monetary System Barry Eichengreen, Andrew K. Rose, and Charles Wyplosz-- Discussion Robert E. Cumby, Robert P. Flood-- 8. Central banks and reputation: some transatlantic contrasts Ben Lockwood, Marcus Miller, and Lei Zhang-- Discussion Stanley W. Black-- 9. Trade liberalization and trade adjustment assistance K. C. Fung and Robert W. Staiger-- Discussion Constantinos Syropoulos-- 10. Trade liberalization as politically optimal exchange of market access Arye L. Hillman and Peter Moser-- Discussion Martin Richardson-- Index.