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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. * 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 Policy 47

Editorsa introduction. The international monetary system in the last and next 20 years: Barry Eichengreen and Raul Razo--Garcia. Fiscal policy and interest rates in Europe: Riccardo Faini. Improving fiscal policy in the EU: the case for independent forecasts: Lars Jonung and Martin Larch. Guide to reform of higher education: a European perspective: Bas Jacobs and Frederick van der Ploeg.