Inhalt: R. Dornbusch, A Portfolio Balance Model of the Open Economy - R. Dornbusch, Capital Mobility and Portfolio Balance - L. A. Sjaastad, On the Monetary Theory of the Balance of Payments: An Extension - P. J. K. Kouri, The Hypothesis of Offsetting Capital Flows: A Case Study of Germany - M. J. Hamburger, The Demand for Money in an Open Economy: Germany and the United Kingdom - M. J. M. Neumann, Price Expectations and the Interest Rate in an Open Economy: Germany, 1960-1972 - J. A. Frenkel / R. M. Levich, Transaction Costs and the Efficiency of International Capital Markets: Tranquil versus Turbulent Periods - R. J. Barro, Unanticipated Money Growth and Unemployment in the United States - A. H. Meltzer, Anticipated Inflation and Unanticipated Price Change: A Test of the Price-Specie Flow Theory and the Phillips Curve - B. M. Friedman, Targets, Instruments, and Indicators of Monetary Policy - R. H. Rasche, Optimal Control and Short-Term Monetary Policy Decisions - H. Schlesinger, Recent Experiences with Monetary Policy in the Federal Republic of Germany - K. Schiltknecht, Monetary Policy under Flexible Exchange Rates: The Swiss Case - M. Parkin, Inflation and Unemployment with Indexed Wages: Some Analytical Issues