Monetary Policy in a Converging Europe : Papers and Proceedings of an International Workshop Organised by De Nederlandsche Bank and the Limburg Institute of Financial Economics

__Monetary Policy in a Converging Europe__ covers the most important monetary issues in the transition towards an Economic and Monetary Union in Europe, containing contributions from renowned experts in relevant research and policy areas. Among other things, the contributions discuss the scope for inflation targeting, monetary interdependencies within the `core' ERM countries, money demand within the European Union, the difference between the monetary transmission mechanisms in the various European countries, and the preferred exchange rate policy in Stage Two of EMU. The book provides an excellent overview of current issues for anyone interested in monetary policy in a converging Europe. Front Matter....Pages i-vii Monetary Policy in a Converging Europe: Overview of the Issues and Summary of the Discussion....Pages 1-19 Do Inflation Targets Redefine Central Bank Inflation Preferences? Results from an Indicator Model....Pages 21-37 Monetary Interdependencies in the “Core” ERM Countries: The P-Star Approach....Pages 39-60 Policy Consequences of Money Demand (In)Stability: National vs. European....Pages 61-76 Credit Characteristics and the Monetary Policy Transmission Mechanism in Fourteen Industrial Countries: Facts, Conjectures and Some Econometric Evidence....Pages 77-115 Who Needs Bands? Exchange Rate Policy before EMU....Pages 117-129 The Best Way to EMU: Summary of the Panel Discussion....Pages 131-141 Back Matter....Pages 143-148 Monetary Policy in a Converging Europe covers the most important monetary issues in the transition towards an Economic and Monetary Union in Europe, containing contributions from renowned experts in relevant research and policy areas. Among other things, the contributions discuss the scope for inflation targeting, monetary interdependencies within the 'score' ERM countries, money demand within the European Union, the difference between the monetary transmission mechanisms in the various European countries, and the preferred exchange rate policy in Stage Two of EMU. The book provides an excellent overview of current issues for anyone interested in monetary policy in a converging Europe