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Current Issues in Monetary Economics

  • Conference proceedings
  • © 1998

Overview

Editors:
  1. Helmut Wagner

    1. University of Hagen, Hagen, Germany

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Part of the book series: Contributions to Economics (CE)

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Table of contents (19 papers)

  1. Front Matter

    Pages I-VI
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  2. Introduction

    1. Introduction

      • Helmut Wagner
      Pages 1-12

  3. Monetary Policy: Recent Theory and Practice

    1. Monetary Policy: Recent Theory and Practice

      • James Tobin
      Pages 13-21

  4. Central Bank Design

    1. Front Matter

      Pages 23-23
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    2. Game Theoretic Analysis of Monetary Policy Institutions

      1. Mechanism Design for Central Banks — Results and Unsolved Issues
        • Gerhard Illing
        Pages 27-51
      2. Comment
        • Hans-Peter Grüner
        Pages 53-59

    3. Outline of Two Controversial Positions on Central Bank Autonomy

      1. Central Bank Autonomy and Political Decision Process
        • Dietmar Kath
        Pages 63-76
      2. For a Monetary Policy that is Independent, yet Subject to Rules
        • Wolfgang Filc
        Pages 77-88

  5. Monetary Policies: Strategies and Implementation

    1. Front Matter

      Pages 89-89
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    2. Theoretical Considerations on Strategies in Monetary Policy

      1. Monetary Policy Strategies: From Rules to Central Bank Contracts under Contingent Target Agreements
        • Alexander Karmann
        Pages 93-108
      2. Comment
        • Norbert Funke
        Pages 109-118

    3. Conceptual Problems of Monetary Policy

      1. Central Bank Policy Rules: Conceptual Issues and Practical Considerations
        • Stephen G. Cecchetti
        Pages 121-140
      2. Implementation Problems of Monetary Policy Strategy
        • Gabriel P. Fagan
        Pages 141-161
      3. Comment (on <i>Stephen Cecchetti</i> and <i>Gabriel Fagan</i>)
        • Lukas Menkhoff
        Pages 163-172

  6. Theoretical Aspects of Exchange Rate Policy and Monetary Union

    1. Front Matter

      Pages 173-173
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    2. Problems of Flexible and Fixed Exchange Rates

      1. Controversies on Exchange Rate Systems
        • Michael Frenkel
        Pages 177-241
      2. Comment
        • Manfred Willms
        Pages 243-247

    3. Approaching European Monetary Union: On Conversion Rates

      1. The Indeterminacy of the Euro Conversion Rates. Why It Matters and How It Can Be Solved
        • Paul De Grauwe
        Pages 251-272
      2. Comment
        • Ansgar Belke
        Pages 273-283

  7. Monetary and Exchange Rate Policy in Developing and Transition Countries: Selected Issues

    1. Front Matter

      Pages 285-285
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Keywords

About this book

Helmut Wagner University of Hagen, Feithstr. 140, D - 58084 Hagen In the last few years decisive methodological and thematic focal points which are important for practical economic policy have been developed in the theory of monetary and exchange rate policy. This book is concerned with these developments, their assessment and the open questions which have still not been solved. It is divided into four parts. The first part deals with central bank design, the second with strategies of monetary policies and their implementation. Part III is concerned with theoretical aspects of exchange rate policy and monetary union, and part IV with selected issues of monetary and exchange rate policy in developing and transition countries. In the following pages I will provide an 1 overview of the individual articles With the exception of the article by Nobel . Laureate James Tobin, the contributions contained in this book were all introduced and discussed at an academic symposium I organized in Castrop­ Rauxel on 8 and 9 September 1997. James Tobin agreed spontaneously to my suggestion that he should write a comprehensive article especially for this publication. A short summary of the comments or supplementary papers and of the general discussions will be given in the last section of this book, titled "Conclusion and Supplements". There I will also provide some supplements respecting the issues which were the subject of the greatest amount of debate at the symposium.

Editors and Affiliations

  • University of Hagen, Hagen, Germany

    Helmut Wagner

Bibliographic Information

  • Book Title: Current Issues in Monetary Economics

  • Editors: Helmut Wagner

  • Series Title: Contributions to Economics

  • DOI: https://doi.org/10.1007/978-3-642-99797-6

  • Publisher: Physica Heidelberg

  • eBook Packages: Springer Book Archive

  • Copyright Information: Springer-Verlag Berlin Heidelberg 1998

  • Softcover ISBN: 978-3-7908-1127-8Published: 12 July 1998

  • eBook ISBN: 978-3-642-99797-6Published: 06 December 2012

  • Series ISSN: 1431-1933

  • Series E-ISSN: 2197-7178

  • Edition Number: 1

  • Number of Pages: VI, 356

  • Topics: Macroeconomics/Monetary Economics//Financial Economics

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