A Framework for Monetary Stability: Papers and Proceedings of an International Conference organised by De Nederlandsche Bank and the CentER for Economic Research at Amsterdam / Edition 1

by J. Onno de Beaufort Wijnholds, Sylvester C.W. Eijffinger, Lex H. Hoogduin

Overview

This book focuses on various important aspects of monetary policy such as the final objective of monetary policy, the position of the central bank, the design and implementation of monetary policy, the relationship between monetary policy and exchange rate regimes, and the consequences of financial reforms in Central and Eastern Europe and in Latin America.
A Framework for Monetary Stability begins with introductions by President W. Duisenberg (DNB) and Vice Chairman D. Mullins, Jr. (Federal Reserve Board). Furthermore, twelve contributions discuss and analyse theoretical, empirical and institutional issues of monetary policy and central banking in Europe and America as well as in other countries. Contributors are reputed policymakers such as C. Freedman (Bank of Canada), J. de Beaufort Wijnholds and L. Hoogduin (DNB), O. Issing (Deutsche Bundesbank), A. Crockett (Bank of England), M. Guitián (IMF) and A. Icard (Banque de France). Also, prominent academics like professors S. Fischer (MIT), A. Cukierman (Tel Aviv), B. Friedman (Harvard), M. de Cecco (Rome) and F. Giavazzi (Bocconi), R. Layard (LSE) and R. Dornbusch (MIT) have made contributions. The book ends with a general report by S. Eijffinger (CentER). The collection of papers and proceedings will be of outstanding interest to anyone who is professionally involved with monetary policy and central banking.

Product Details

ISBN-13:	9780792331735
Publisher:	Springer Netherlands
Publication date:	09/30/1994
Series:	Financial and Monetary Policy Studies , #27
Edition description:	Softcover reprint of the original 1st ed. 1994
Pages:	340
Product dimensions:	6.30(w) x 9.45(h) x 0.03(d)

Table of Contents

A — Thursday October 21, 1993.- Opening Speech by the President of De Nederlandsche Bank.- Keynote Speech by the Vice Chairman of the Federal Reserve Board: A Framework for Monetary Stability — A Policy Maker’s Perspective.- Formal Targets for Inflation Reduction: The Canadian Experience.- The Costs and Benefits of Disinflation.- Comment on C. Freedman: Formal Targets for Inflation Reduction: The Canadian Experience.- Comment on S. Fischer: The Costs and Benefits of Disinflation.- Commitment through Delegation, Political Influence and Central Bank Independence.- Central Bank Autonomy: Policy Issues.- Comment on A. Cukierman: Commitment through Delegation, Political Influence and Central Bank Independence.- Comment on Onno de Beaufort Wijnholds and Lex Hoogduin: Central Bank Autonomy: Policy Issues.- Intermediate Targets versus Information Variables as Operating Guides for Monetary Policy.- Monetary Policy Strategy in the EMU.- Comment on B.M. Friedman: Intermediate Targets versus Information Variables as Operating Guides for Monetary Policy.- Comment on O. Issing: Monetary Policy Strategy in the EMU.- Dinner Speech by: To Cut or Not to Cut Interest Rates: Some Remarks on the ERM.- B — Friday October 22, 1993.- Rules versus Discretion in Monetary Policy.- The Role of Monetary Policy in IMF Programs.- Comment on A.D. Crockett: Rules versus Discretion in Monetary Policy.- Comment on M. Guitián: The Role of Monetary Policy in IMF Programs.- Italy’s Experience within and without the European Monetary System: A Preliminary Appraisal.- Monetary Policy and Exchange Rates: The French Experience.- Comment on M. De Cecco and F. Giavazzi: Italy’s Experience within and without the European Monetary System: A Preliminary Appraisal.- Comment on A. Icard: Monetary Policyand Exchange Rates: The French Experience.- Can Russia Control Inflation?.- Stabilization and Monetary Reform in Latin America.- Comment on R. Layard: Can Russia Control Inflation?.- Comment on R. Dornbusch: Stabilization and Monetary Reform in Latin America.- A Framework for Monetary Stability — General Report.- List of Participants.