This is the third and final volume written in honour of Bernard Corry and Maurice Peston by an internationally renowned group of experts, and focuses on the application of economics to policy advice.The contributors to this volume consider practical policy issues including labour market policy and the problem of unemployment, methodology and econometric analysis, taxation policy, industrial regulation, practical applications of transaction cost theory in the European Union, policy issues such as foreign direct investment and pension reform affecting transition economies and training policies in developing countries.