Monetary Stability through International Cooperation

1. Front Matter

   Pages 1-18

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2. European monetary integration

   1. Front Matter

      Pages 19-19

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   2. The relationship between economic, monetary and political integration

      • Hans Tietmeyer

      Pages 21-30

   3. Pros and cons of a two-speed monetary integration

      • Jean-Jacques Rey

      Pages 31-43

   4. Central bank and government

      • Jelle Zijlstra

      Pages 45-58

   5. European exchange rate cooperation

      • Erik Hoffmeyer

      Pages 59-65

   6. The economic and monetary relation between Germany and the Netherlands

      • Nout Wellink

      Pages 67-83

   7. The Exchange Rate Mechanism after the Basle/Nyborg Agreement

      • Henning Dalgaard

      Pages 85-96

   8. The importance of monetary targeting in the Economic and Monetary Union

      • Wolfgang Rieke

      Pages 97-103

   9. European monetary policy coordination

      • Lucas Papademos

      Pages 105-114

   10. Economic policy coordination and the role of fiscal targets

       • Henk J. Brouwer, Bernard ter Haar

       Pages 115-126

   11. The Monetary Committee as a promoter of European integration

       • Andreas Kees

       Pages 127-145

   12. The Committee of Governors as a forum for European central bank cooperation

       • Gunter D. Baer

       Pages 147-157

   13. Techniques for stability

       • Henk Boot

       Pages 159-175

   14. Europe in flux

       • Tom de Vries

       Pages 177-182

   15. Financial relations between the Netherlands and Belgium: 1943 to 1993

       • Jacques J. Polak

       Pages 183-199

   16. The integration of former Eastern Bloc countries into Europe

       • Leonhard Gleske

       Pages 201-212

3. The international monetary system

   1. Front Matter

      Pages 213-213

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   2. The merits of stable exchange rates

      • Hervé Hannoun

      Pages 215-226

   3. Turbulence in the foreign exchange markets: old and new lessons

      • Lamberto Dini

      Pages 227-238

Monetary Stability through International Cooperation contains essays written by high ranking policy makers in the field of central banking and international finance, written in honour of André Szász, who has been Executive Director of De Nederlandsche Bank since 1973, responsible for international monetary relations. Colleagues from several other central banks, from finance ministries and from international institutions pay tribute to him by analysing the conditions fostering European as well as global monetary stability. The book provides an inside view of the thinking of monetary officials at the turn of 1993/1994, when the currency turmoil in the ERM of mid-1993 had subsided and views on its implications for exchange rate management and, more generally, for European integration were taking shape. Topics include exchange rate stabilisation, policy coordination and central bank independence. A second section, on the international monetary system, includes essays on the policy implications of present day dynamic financial markets as well as the role of the IMF. This book, written by `insiders for an insider', provides valuable insights to those who are interested in contemporary international monetary relations.

• Bretton Woods
• European Central Bank
• European integration
• Institution
• Integration
• Nation
• Supervision
• cooperation
• exchange rates
• financial markets
• international finance
• monetary policy
• monetary union

Policies and ethics