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Fifty Years of the Deutsche Mark : Central Bank and the Currency in Germany since 1948 -  Deutsche Bundesbank

Fifty Years of the Deutsche Mark

Central Bank and the Currency in Germany since 1948

By: Deutsche Bundesbank (Editor)

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This book provides detailed independent analyses of the successes and limitations of one of the most successful economic relationships in recent history: the Deutsche Mark and the Deutsche Bundesbank. With European economic and monetary union approaching, the lessons to be learnt from the German experience are now more important than ever. The Deutsche Mark has been one of the most stable currencies in the world for decades. The combination of a sound monetary structure and an anti-inflationary monetary policy have been the bedrock for unprecedented German economic success. This success, however, has not been unlimited or without risk. Fifty Years of the Deutsche Mark will give future European montary policy-makers the invaluable benefit of the German experience. The book combines chronological articles with others which follow the developments of a specific issue over the entire 50-year period. Issues covered include the central bank constitution, the central bank's relationship with fiscal policy-makers and with other banks, the role of the Bundesbank in European monetary integration, and the international significance of the Deutsche Mark. Individual accounts of the key monetary policy events in 1948 and 1990 as well as general articles on the `message' of German monetary policy and on academic deabte over German monetary policy round the book off. Sixteen eminent independent scholars were asked by the Bundesbank to contribute to this volume, and given full access to the Bank's records. The resulting articles provide comprehensive analysis of the successes and limitations of Europe's most powerful central bank. On June 20th, 1998, the Deutsche Mark will be 50 years old: this book will ensure that its legacy lives on.

Industry Reviews

`An eminently readable and scholarly collection which uses the archives of the Bundesbank ... the very considerable contribution that this book will make to the monetary history of both Germany and Europe' Economic History Society It contains an excellent collection of representative papers covering a wide spectrum of real options from both theoretical and practical viewpoints. I recommend it to anyone who wants to learn more about a relatively new and very exciting branch of financial engineering. - Alexander Lipton, Vice President, Deutsche Bank, Professor, University of Illinois

Hans Tietmeyer: Preface Otmar Issing: Foreword Part I: Legacy and Fresh Start 1: Harold James: The Reichsbank, 1876-1945 2: Christoph Buchheim: The Establishment of the Bank deutscher Länder and the West German Currency Reform Part II: The Central Bank in the Constitutional and Financial Set-up of the Federal Republic of Germany 3: Klaus Stern: The Note-issuing Bank within the State Structure 4: Wolfgang Kitterer: Public Finance and the Central Bank 5: Günter Franke: The Bundesbank and the Markets Part III: Monetary Policy in the Federal Republic of Germany 6: Manfred J. M. Neumann: Monetary Stability: Threat and Proven Response 7: Carl-Ludwig Holtfrerich: Monetary Policy under Fixed Exchange Rates (1948-70) 8: Jürgen von Hagen: A New Approach to Monetary Policy (1971-8) 9: Ernst Baltensperger: Monetary Policy under Conditions of Increasing Integration (1979-96) 10: Rudolf Richter: German Monetary Policy: The Academic Debate Part IV: Aspects of Monetary Policy in the Two Germanys 11: H. Jörg Thieme: The Central Bank and Money in the GDR 12: Jochen Plassman: The Role of the Bundesbank in Intra-German Payments 13: Manfred E. Streit: German Monetary Union Part V: The International Scene 14: Jacob A. Frenkel and Morris Goldstein: The international Role of the Deutsche Mark 15: Peter Bernholz: The Bundesbank and the Process of European Monetary Integration

ISBN: 9780198292548
ISBN-10: 0198292546
Audience: Professional
Format: Hardcover
Language: English
Number Of Pages: 862
Published: 1st December 1998
Country of Publication: GB
Dimensions (cm): 24.1 x 16.3  x 5.5
Weight (kg): 1.46