Actions for Establishing a central bank : issues in Europe and lessons from the US

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Establishing a central bank : issues in Europe and lessons from the US / edited by Matthew B. Canzoneri, Vittorio Grilli, and Paul R. Masson

Published
Cambridge : Cambridge University Press, 1992.
Physical Description
1 online resource (xvii, 307 pages) : digital, PDF file(s).
Additional Creators
Canzoneri, Matthew B., Grilli, Vittorio, Masson, Paul R., Centre for Economic Policy Research (Great Britain), Georgetown University. Center for German and European Studies, and International Monetary Fund
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Contents
Designing a central bank for Europe : a cautionary tale from the early years of the Federal Reserve System / Barry Eichengreen. Discussion / Bennett T. McCallum, Eugene N. White -- The European Central Bank : reshaping monetary politics in Europe / Alberto Alesina and Vittorio Grilli. Discussion / Peter Bofinger, Luigi Spaventa -- The ECB : a bank or a monetary policy rule? / David Folkerts-Landau and Peter Garber. Discussion / John C. Pattison, Richard J. Sweeney -- Hard-ERM, hard ECU and European Monetary Union / David Currie. Discussion / Dale W. Henderson, Andrew J. Hughes Hallett -- Voting on the adoption of a common currency / Alessandra Casella. Discussion / Torsten Persson -- Fiscal federalism and optimum currency areas : evidence for Europe from the United States / Xavier Sala-i-Martin and Jeffrey Sachs. Discussion / Behzad T. Diba, Alberto Giovannini. and Market-based fiscal discipline in monetary unions : evidence from the US municipal bond market / Morris Goldstein and Geoffrey Woglom. Discussion / Mervyn King, Vito Tanzi -- European Monetary Union and international currencies in a tripolar world / George Alogoskoufis and Richard Portes. Discussion / Jeroen J.M. Kremers.
Summary
Previous efforts to create a European Central Bank (ECB) have stimulated debate on topics for research into the political economy of the European Community's institutions. These include the exact division of responsibilities of national governments and the ECB - especially concerning exchange rate policy; the need for and design of constraints on national fiscal policies; and the nature of the transition from adjustable parities and national monetary policies to irrevocably fixed parities and a single European monetary policy. The book also considers the implications of EMU for the international monetary system - for the use of the ECU as a reserve currency and for policy coordination among the G-7 countries. The volume thus provides a comprehensive examination of the issues that will be decisive for Europe in its choice of monetary institutions.
Subject(s)
ISBN
9780511895876 (ebook)
9780521420983 (hardback)
9780521070690 (paperback)
Note
Title from publisher's bibliographic system (viewed on 08 Oct 2015).
View MARC record | catkey: 34845725