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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 - J. Onno de Beaufort Wijnholds

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

Hardcover Published: 31st March 1994
ISBN: 9780792326670
Number Of Pages: 340

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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. GuitiĀ n (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.

Foreword
Introduction
Opening Speechp. 3
Keynote Speech: A Framework for Monetary Stability - A Policy Maker's Perspectivep. 5
Formal Targets for Inflation Reduction: The Canadian Experiencep. 17
The Costs and Benefits of Disinflationp. 31
Comment on C. Freedman: Formal Targets for Inflation Reduction: The Canadian Experiencep. 43
Comment on S. Fischer: The Costs and Benefits of Disinflationp. 49
Commitment through Delegation, Political Influence and Central Bank Independencep. 55
Central Bank Autonomy: Policy Issuesp. 75
Comment on A. Cukierman: Commitment through Delegation, Political Influence and Central Bank Independencep. 97
Comment on Onno de Beaufort Wijnholds and Lex Hoogduin: Central Bank Autonomy: Policy Issuesp. 103
Intermediate Targets versus Information Variables as Operating Guides for Monetary Policyp. 109
Monetary Policy Strategy in the EMUp. 135
Comment on B.M. Friedman: Intermediate Targets versus Information Variables as Operating Guides for Monetary Policyp. 149
Comment on O. Issing: Monetary Policy Strategy in the EMUp. 153
Dinner Speech by Wim F. Duisenberg: To Cut or Not to Cut Interest Rates: Some Remarks on the ERMp. 157
Rules versus Discretion in Monetary Policyp. 165
The Role of Monetary Policy in IMF Programsp. 185
Comment on A.D. Crockett: Rules versus Discretion in Monetary Policyp. 211
Comment on M. Guitian: The Role of Monetary Policy in IMF Programsp. 217
Italy's Experience within and without the European Monetary System: A Preliminary Appraisalp. 221
Monetary Policy and Exchange Rates: The French Experiencep. 239
Comment on M. De Cecco and F. Giavazzi: Italy's Experience within and without the European Monetary System: A Preliminary Appraisalp. 257
Comment on A. Icard: Monetary Policy and Exchange Rates: The French Experiencep. 263
Can Russia Control Inflation?p. 269
Stabilization and Monetary Reform in Latin Americap. 283
Comment on R. Layard: Can Russia Control Inflation?p. 299
Comment on R. Dornbusch: Stabilization and Monetary Reform in Latin Americap. 305
A Framework for Monetary Stability - General Reportp. 309
List of Participantsp. 331
Table of Contents provided by Blackwell. All Rights Reserved.

ISBN: 9780792326670
ISBN-10: 0792326679
Series: Financial and Monetary Policy Studies
Audience: Professional
Format: Hardcover
Language: English
Number Of Pages: 340
Published: 31st March 1994
Publisher: Springer
Country of Publication: NL
Dimensions (cm): 23.5 x 15.5  x 2.54
Weight (kg): 1.49

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