Description
Palgrave Monetary Theory and Policy Experience by Axel Leijonhufvud
Monetary Theory and Policy Experience offers a broad context for the question of why governments prefer to limit themselves to a specific inflation target. Academic specialists and senior officials of the European Central Bank, the OECK and national central banks look beyond inflation targeting as the goal of monetary policy. Nobel Laureate Robert Mundell, surveys the history and prospects of the sovereignty of the state over money, while Michael Bordo and Lars Jonung use data of fourteen industrialized countries over the past century to show relationships between fiscal and monetary regimes._x000D_ Table of contents : - _x000D_
The International Economic Association Acknowledgements Notes on the Contributors List of Abbreviations and Acronyms Introduction; A.Leijonhufvud PART I: CENTRAL BANKING EXPERIENCE Putting Central Banks in Their Place; J.Crow Monetary Theory as a Basis for Monetary Policy: Reflections of a Central Banker; O.Issing Comment; L.Pasinetti Comment; L.Spaventa Monetary Policy and Economic Performance: The Recent Experience of the United States and Japan; K.Shigehara What Have Monetary Economists Done for Central Bankers?; P.Pou PART II: THE 'MODUS OPERANDI' OF MONETARY POLICY Inflation and/or Exchange Rate Targets for Monetary Policy?; N.Thygesen Comment; R.Tamborini The Choice of a Monetary Policy Reaction Function in a Simple Optimizing Model; D.Henderson & J.Kim Comment; L.Bonatti Comment; F.Farina PART III: MONETARY REGIMES The New Political Economy of Central Banking; S.Eijffinger Comment; C.Bianchi Comment; M.Nabli A Return to the Convertability Principle? Monetary and Fiscal Regimes in Historical Perspective: the International Evidence; M.Bordo & L.Jonung Comment; G.Fodor Money and the Sovereignty of the State; R.Mundell Comment; D.Heymann Index of Names Subject Index_x000D_