This series spans the globe presenting leading research in economics. Perhaps it is a sign of the times that economic weapons such as sanctions seem to be as powerful as or more so than tanks. International applications and examples of economic progress are invaluable in a troubled world with economic booms bursting like so many penny balloons. Intraindustry Trade; Inequality, Human Capital, and Trade: Theory and Evidence; Estimation of Duration Models in the Presence of Heterogeneity of Unknown Form; Health and the Process of Economic Development; Monetary Volatility and the Paper-Bill Spread; Habits and Meaning in Alfred Schutz's Action Theory; Tax Evasion in a Transition Economy: Theory and Empirical Evidence from the Former Soviet Union Republic of Moldova; A Tale of Three Cities: Is an Electronic Public Order Book Appropriate for Transition Economies?; Auditors, Actuaries, and Managed Earnings; Using Principal Component Analysis to Explain Term Structure Movements: Performance and Stability; Index.