WE CONSTRUCT a finite-dimensional Kahler manifold with a holomorphic,
symplectic circle action whose symplectic reduced spaces may be identi
fied with the tau-vortex moduli spaces (or tau-stable pairs). The Mors
e theory of the circle action induces natural birational maps between
the reduced spaces for different values of tau which in the case of ra
nk two bundles can be canonically resolved in a sequence of blow-ups a
nd blow-downs. Copyright (C) 1996 Elsevier Science Ltd