Francesco Giavazzi / Stefano Micossi / Marcus Miller (eds.)

The European Monetary System

Herausgeber: Giavazzi, Francesco; Miller, Marcus; Micossi, Stefano

• Broschiertes Buch

Produktbeschreibung

The European Monetary System has, since its inception in 1979, provided a fascinating example of policy coordination in practice. As concern about exchange-rate instability and global economic imbalances has grown, both academic researchers and policy makers have looked to the EMS for lessons about cooperation on a wider scale. This volume contains the papers and proceedings of a conference organized by the Centre for Economic Policy Research in cooperation with the Banca d'Italia and the Centro Interuniversitario di Studi Teorici per la Politica Economica. The conference brought together distinguished academics and central bankers offering a timely summary of current research on the European Monetary System, while the concluding panel discussion provides a valuable perspective on the concerns of policy-makers.

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Produktdetails

• Verlag: Cambridge University Press
• Seitenzahl: 448
• Erscheinungstermin: 24. Juni 2003
• Englisch
• Abmessung: 229mm x 152mm x 26mm
• Gewicht: 722g
• ISBN-13: 9780521389051
• ISBN-10: 0521389054
• Artikelnr.: 21915221

Inhaltsangabe

List of figures; List of tables; Preface; 1. Introduction Niels Thygesen;
Part I. The International Environment: 2. The European Monetary System, the
dollar and the yen Rudiger Dornbusch; Discussion Robert Triffin; Discussion
Charles Wyplosz; Part II. Disinflation, External Adjustment and
Cooperation: 3. Monetary discipline and cooperation in the European
Monetary System: a synthesis Jacques Melitz; Discussion José Vinals; 4. The
role of the exchange-rate regime in a disinflation: empirical evidence on
the European Monetary System Francesco Giavazzi and Alberto Giovannini;
Discussion William Branson; 5. Inflation and the European Monetary System
Susan M. Collins; Discussion Jean-Jacques Rey; 6. Economic growth and
exchange rates in the European Monetary System: their trade effects in a
changing external environment Stefano Vona and Lorenzo Bini Smaghi;
Discussion David Begg; Part III. Exchange Rates, Capital Mobility and
Monetary Coordination: 7. Exchange rates, interest rates, capital controls
and the European Monetary System: assessing the track record Michael J.
Artis and Mark P. Taylor; Discussion Emil-Maria Claassen and Eric Perée; 8.
The stability and sustainability of the European Monetary System with
perfect capital markets John Driffill; Discussion Daniel Gros; 9.
Competitiveness, realignment, and speculation: the role of financial
markets Maurice Obstfeld; Discussion Marcus Miller; Discussion Herakles
Polemarchakis; 10. Interventions, sterilisation and monetary policy in
European Monetary System countries, 1979-87 Cristina Mastropasqua, Stefano
Micossi and Roberto Rinaldi; Discussion Wolfgang Rieke; 11. Monetary policy
coordination within the European Monetary System: is there a rule? Massimo
Russo and Giuseppe Tullio; Discussion Lucas Papademos; Part IV. The Future
of the European Monetary System: 12. The European Monetary System: a
long-term view Tommaso Padoa-Schioppa; 13. A new phase in the European
Monetary System - exchange-rate constraint, capital liberalisation and
policy coordination; a report of the conference panel discussion Lamberto
Dini, Peter Kenen, Rainer Masera, Wolfgang Rieke, Luigi Spaventa and
Jacques Waitzenegger; Index.