From the Winter 2005 issue

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FEATURED IN THE CURRENT ISSUE

Why the Pact Has No Impact
Why the Stability and Growth Pact ultimately made no significant difference to the fiscal behavior of the eurozone major member economies.
By Adam S. Posen

The Maastricht Dog That Lost Its Bark
How the Stability Pact has lost its relevance.
By Daniel Gros, Thomas Mayer, and Angel Ubide

A L S O  in the Winter 2005 issue:

The New U.S.-European Detente
Why the Europe of 2005 is nothing like the Europe of 2003 or even 2004.
By Criton M. Zoakos

Battle of the Economists
The inside story of Germany’s internal policy knifefight.
By Klaus C. Engelen

German Thatcherism
The structural and historic limits to making Germany more “Anglo-Saxon.”
By Jonathan Hoffman

Santomero Speaks
The Philadelphia Federal Reserve President takes on inflation, interest rates, and the future of
the American economy. A TIE exclusive interview.

Are the Outside Credit Agencies Headed for Extinction?
Why structured data drives improved risk analytics.
By Dennis Santiago

Are the Emerging Markets Finally Decoupling from the United States?
Are international borrowers less vulnerable to a rise in U.S. interest rates than in the past?
A symposium of views

The Mexican Comeback
How middle-income economies can compete with China.
By Diana Farrell and Jaana Remes

Has Dollar Pegging Paid Off for Asia?
An expensive form of insurance against currency speculators, or a useful strategy to promote export-oriented growth?
A symposium of views

The Capital Market Sanctions Folly
A lesson in diplomatic dopiness.
By Benn Steil

Anti-Money Laundering Overkill
It’s time to ask how well the system is working.
By Peter Reuter and Edwin M. Truman