Monetary Policy, Capital Flows and Exchange Rates: Essays in Honour of Maxwell Fry

Monetary Policy, Capital Flows and Exchange Rates: Essays in Honour of Maxwell Fry

Monetary Policy, Capital Flows and Exchange Rates: Essays in Honour of Maxwell Fry

Monetary Policy, Capital Flows and Exchange Rates: Essays in Honour of Maxwell Fry

Synopsis

This collection has been brought together in honor of the late economist Maxwell Fry. It contains state-of-the-art articles on monetary and exchange rate policy, capital flows, currency markets, and exchange rate policies.

Excerpt

Very sadly, Maxwell Fry died of a brain tumour, on 22 February 2000, aged 56, while this book was in preparation. Max Fry was an Englishman whose career as a monetary and international economist took him all over the world. He held academic posts in the United Kingdom, the United States of America, Singapore, and Turkey and advised the governments or central banks of Afghanistan, Bangladesh, Mauritius, Nepal, Portugal, Turkey, and the United Kingdom. At the untimely end of his career, he combined the posts of Director of the Bank of England Centre for Central Banking Studies and Professor of International Finance at the University of Birmingham.

His temperament and career experiences gave him an optimistic and enterprising outlook, and an awareness of what things were like outside large industrial democracies. He had countless friends all over the world whom he would telephone, fax or e-mail at a moment's notice to tell them of some new project or other. He energised his colleagues and collaborators. the Bank of England benefited greatly from his presence as an Adviser in 1990 and Senior Houblon-Norman Fellow in 1997. His last and most important role at the Bank of England was at the Centre for Central Banking Studies, which he directed from 1997 until his enforced retirement in 1999. Under his direction and thanks to his vision, the ccbs took a large step in its development from an institution offering mainly basic training to central bankers from Eastern Europe and the former Soviet Union to a forum in which central bankers from all over the world can meet and exchange ideas on the latest developments in central banking. This is an achievement for which all central bankers can be profoundly grateful.

The present volume of papers on the subjects to which Max devoted his career, by a group of Max's friends, is a fitting tribute to his work.

E.A.J. George
Governor
Bank of England

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