By Wim F. Duisenberg (auth.), J. Onno De Beaufort Wijnholds, Sylvester C. W. Eijffinger, Lex H. Hoogduin (eds.)
This ebook specializes in a variety of very important elements of financial coverage corresponding to the ultimate goal of financial coverage, the location of the principal financial institution, the layout and implementation of financial coverage, the connection among financial coverage and alternate price regimes, and the results of monetary reforms in significant and jap Europe and in Latin the USA.
A Framework for financial Stability starts with introductions via President W. Duisenberg (DNB) and vp D. Mullins, Jr. (Federal Reserve Board). in addition, twelve contributions speak about and examine theoretical, empirical and institutional problems with financial coverage and crucial banking in Europe and the USA in addition to in different nations. members are reputed policymakers equivalent to C. Freedman (Bank of Canada), J. de Beaufort Wijnholds and L. Hoogduin (DNB), O. Issing (Deutsche Bundesbank), A. Crockett (Bank of England), M. Guitián (IMF) and A. Icard (Banque de France). additionally, admired lecturers 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 e-book ends with a basic file by means of S. Eijffinger (CentER). the gathering of papers and lawsuits can be of exceptional curiosity to someone who's professionally concerned with financial coverage and imperative banking.
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Additional info for 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
What role are the inflation target zones intended to serve? One is to help private sector agents form inflation forecasts. In an economy where people are making decisions about savings and investments the results of which depend on future inflation (among other things), they tend to want to have some sort of forecast of future inflation, and government statements about its future policy provide one source of information on which forecasts can be based. H. de Beaufort Wijnholds, S. C. W. H. ) , A Framework for Monetary Stability, pp.
Webb (1993). "Central Bank Independence, Growth, Investment, and Real Rates", mimeo, World Bank (February). Debelle, Guy (1993). ", mimeo, MIT (September). Dornbusch, Rudiger and Stanley Fischer (1994), Macroeconomics, sixth edition, New York, McGraw-Hill. Eijffinger, Sylvester and Eric Schaling (1993), "Central Bank Independence: Theory and Evidence", CentER Discussion Papers number 9325 (May), Center for Economic Research, Tilburg. Faig, Miguel (1985), "Optimal Taxation of Money Balances", unpublished, Stanford University.
32. The constitutional referendum in the fall of 1992 played an important role in this regard. 33. See Barro and Gordon (1983), and Persson and Tabellini (1993). Having an explicit mandate in legislation could also be helpful in this regard. , MIT Press. G. ), Monetary Policy, Chicago, University of Chicago Press. Bank of Canada (1991a) Annual Report of the Governor for 1990. Bank of Canada (1991 b) "Targets for Reducing Inflation", Bank of Canada Review (March), 3. Bank of Canada (1991c) "Background Note on the Targets'" , Bank of Canada Review (March), 9-15.