Titlebook: Aspects of Central Bank Policy Making; Zvi Eckstein Conference proceedings 1991 Springer-Verlag Berlin · Heidelberg 1991 Bankpolitik.Centr

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Why Persist With a Failed Policy?,umes of reports containing the findings of the National Monetary Commission. Despite the detailed investigation of financial systems that preceded passage and the number of alternative bills drafted, considered and dismissed, the Act says very little about the purposes of the legislation. Decisions

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https://doi.org/10.1057/9780230368835romised. On the level of macroeconomic policy, monetary integration, meaning fixed exchange rates and the possible move to a single European currency, requires convergence of monetary policy across countries. There must be convergence of inflation rates, which, given the predominant role of Vest Ger

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Which Drugs Are Problems for States?,ty that the Community may eventually have a single currency managed by one central monetary authority. Following the Single Act the European Council appointed in mid 1988 a commission headed by Jacques Delors which was entrusted with the task of proposing concrete stages leading towards economic and

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Why is There a Drug Problem at All?,nd benefits, and derive net welfare gains for every country. Exchange rate systems would than be ranked according to Pareto’s criterion in order to see which fare best. This procedure is unlikely to lead to a unique best choice, however, because more than one regime is expected to top the list. Regi

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Why is There a Drug Problem at All?, contract, must be paid solely upon its owner’s demand. Therefore, when demand deposits are backed by fractional reserves, self-fulfilling panics may occur, so that banks become inherently unstable (Friedman (1959)). Rolnick and Webber (1985) present the conventional view that inherent instability i

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Facilitating Creative Destructionn 1933 to stem an instability problem in banking, deposit insurance succeeded as well as Congress could have hoped. More recently, however, as federally insured institutions have become less regulated, a problem with deposit insurance has surfaced. In order to allow banks to survive in a more compet

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The Lean Transformation of Higher Educationte on central bank policy-making in Germany. While such issues are not unfamiliar to other major central banks, German experience in this field has tended to exhibit specific national characteristics. Administered by a central bank, which enjoys a rare degree of legal and factual political independe

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