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Monetary Policy in a Converging Europe covers the most important monetary issues in the transition towards an Economic and Monetary Union in Europe, containing contributions from renowned experts in relevant research and policy areas. Among other things, the contributions discuss the scope for inflation targeting, monetary interdependencies within the `core' ERM countries, money demand within the European Union, the difference between the monetary transmission mechanisms in the various European countries, and the preferred exchange rate policy in Stage Two of EMU. The book provides an excellent overview of current issues for anyone interested in monetary policy in a converging Europe.
Content Level »Research
Keywords »European Union (EU) - Inflation - Policy - financial economics - monetary policy - monetary union
Preface. I. Monetary policy in a converging Europe: overview of the issues and summary of the discussion; The editors. II. Do inflation targets redefine the central bank inflation preferences? Results from an indicator model; M.J. Dueker, A.M. Fischer. III. Monetary interdependencies in the `core' ERM countries: the P-star approach; H.M. Groeneveld, et al. IV. Policy consequences of money demand (in)stability: national vs. European; C. Monticelli. V. Credit characteristics and the monetary policy transmission mechanism in 14 industrial countries: facts, conjectures and some econometric evidence; C.E.V. Borio. VI. Who needs bands? Exchange rate policy before EMU; T. Bayoumi. VII. The best way to EMU: Summary of the panel discussion; The editors. On the authors, discussants, members of the panel and organisers.