OLIVER FABEL is Professor of Management at the University of Konstanz. He is the author of several articles and his books include The Economics of Pensions and Variable Retirement Schemes (1994). - FRANCESCO FARINA is Professor of Economics at the University of Siena. He is the author of several articles on monetary economics, social science and economic integration and is co-editor of Ethics, Rationality and Economic Behaviour (1996). - LIONELLO F. PUNZO is Professor of Economics at the University of Siena and group coordinator of the IDEE project. He is the author of many articles and is co-author of The Dynamics of a Capitalist Economy (with R.M. Goodwin), and Cycle, Growth and Structural Change (with R.H. Day).