Exchange-Rate Regimes and Currency Unions : Proceedings of a Conference Held by the Confederation of European Economic Associations at Frankfurt, Germany, 1990

The contributions are concerned with the theoretical and empirical analyses of fixed and flexible exchange rate systems, the role of central bank and other government policies in such systems, the prospects, workings and effects of a European Monetary System, and capital mobility and economic integration. Front Matter....Pages i-xviii Introduction....Pages 1-9 Front Matter....Pages 11-11 The Entry of Southern Countries Into the European Monetary System....Pages 13-35 Perfect Capital Mobility and the Italian Economy....Pages 36-63 Floating Exchange Rates and Capital Mobility....Pages 64-85 Monetary Integration of Eastern Europe Into the World Economy....Pages 86-105 Front Matter....Pages 107-107 Non-Sterilised Intervention and the Floating Exchange Rate....Pages 109-130 On the Effectiveness of Daily Intervention by the Deutsche Bundesbank and the Federal Reserve System in the US Dollar — Deutsche Mark Exchange Market....Pages 131-158 The Credibility of Central Banks in Controlling Inflation and the Effect on Exchange-rate Volatility, Theory and Evidence....Pages 159-180 Front Matter....Pages 181-181 Economic and Monetary Union (EMU) in Europe: A UK Perspective....Pages 183-202 Good Money Driving Out Bad: A Model of the Hayek Process in Action....Pages 203-227 A European Central Bank: The Issue of Independence....Pages 228-247 Economic Policy and European Integration....Pages 248-286 Back Matter....Pages 287-296