The International Seminar on Macroeconomics has met annually in Europe for thirty years. The papers included in this volume discuss defaults, underwriters, and sovereign bond markets between 1815 and 2007; openness and the rise and fall of stock market correlations between 1890 and 2001; systemic risk taking and the U.S. financial crisis; the Feldstein-Horioka fact; the puzzle of the real exchange rate of nontradable goods; and methods of assessing external equilibrium in low-income countries.