Monetary Theory and Policy Experience


Why do governments prefer to limit themselves to a specific inflation target? Specialists and senior officials of the European Central bank, the OECD and national central banks look beyond inflation targeting as the goal of monetary policy. Among the contributing, 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 14 industrialized countries to show relationships between fiscal and monetary regimes.

Additional information

Includes content by:
  • John W. Crow
  • Otmar Issing
  • Luigi L. Pasinetti
  • Luigi Spaventa
  • Kumiharu Shigehara
Publisher: Place of publication:
  • New York
Publication year:
  • 2001


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