What central banks have learned: lessons from pre-EMU Europe
This paper examines the intentions and outturns of central bank policies in Europefrom the collapse of the Bretton Woods system of fixed exchange rates until the start ofEMU in 1999. It focuses on the lessons that can be drawn from the three dominant policy strategies of money targeting, exchange rate targeting and inflation targeting. Several of the lessons that are relevant to the euro area are shown to have been incorporated into the monetary policy strategy of the European Central Bank.
Volume (Year): 54 (2001)
Issue (Month): 218 ()
|Contact details of provider:|| Web page: http://www.economiacivile.it|
|Order Information:||Web: http://www.economiacivile.it|
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- L. Bini-Smaghi, 1998. "The democratic accountability of the European Central Bank," Banca Nazionale del Lavoro Quarterly Review, Banca Nazionale del Lavoro, vol. 51(205), pages 119-143.
- Guy Debelle, 1998.
"Inflation Targeting in Practice,"
South East Asian Central Banks (SEACEN) Research and Training Centre, number occ23.
- von Hagen, J, 1995. "Inflation and Monetary Targeting in Germany," Papers 03, American Institute for Contemporary German Studies-.
- Frederic S. Mishkin, 2000. "What should central banks do?," Review, Federal Reserve Bank of St. Louis, issue Nov, pages 1-14.
- Gunnar Jonsson, 1999. "The Relative Merits and Implications of Inflation Targeting for South Africa," IMF Working Papers 99/116, International Monetary Fund.
- Bennett T. McCallum, 1996. "Inflation Targeting in Canada, New Zealand, Sweden, the United Kingdom, and in General," NBER Working Papers 5579, National Bureau of Economic Research, Inc.
- Issing, Otmar, 1997. "Monetary targeting in Germany: The stability of monetary policy and of the monetary system," Journal of Monetary Economics, Elsevier, vol. 39(1), pages 67-79, June.
- L. Bini-Smaghi, 1998. "The democratic accountability of the European Central Bank," BNL Quarterly Review, Banca Nazionale del Lavoro, vol. 51(205), pages 119-143.
When requesting a correction, please mention this item's handle: RePEc:psl:bnlqrr:2001:33. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Carlo D'Ippoliti)
If references are entirely missing, you can add them using this form.