Foundations of European Central Bank Policy

ISBN-13: 9783790806908 / Angielski / Miękka / 1993 / 259 str.

Wolfgang Gebauer

Opis

This study attempts to lay the theoretical foundations for a central banking policy of the future European Central Bank. Topics discussed include economic conditions within the EC, the role of fiscal policy, the instruments of the European Central Bank and the role of private ECUs.

Spis treści

0 Introduction.- 1 Part I: Endogenous Money.- 1.1 The Money Supply Approach: Empirical Evidence for Germany.- 1.2 Endogenous Money and Interest Rates in Germany.- 1.3 The Endogeneity of Money: Concepts, Methods and Doctrinal Influence of Monetary Theory.- 1.4 Currency Competition and Endogenous Money: Experiences from the Suffolk System, 1819–1858.- 2 Part II: Towards an European Central Bank Policy Design.- 2.1 Economic Convergence and Monetary Union.- 2.2 Five Years to Prepare the Final Stage of EMU: A German View.- 2.3 Towards a Common Monetary Policy in the Transition: The Role of Ecu and Required Reserves.- 2.4 Fiscal Policy Implications of the European Union.- 2.5 The (Term) Structure of Interest Rates as a Predictor of Real Economic Growth: An Econometric Analysis for Germany.- 2.6 The Evolution of Ecu Markets.- 3 Part III: External Issues.- 3.1 Economic Transformation and the Integration of Central and Eastern Europe in the European Community.- 3.2 Convertibility in Eastern Europe.- 3.3 Exchange Rate Pegging to the Ecu in Northern Europe: A Nordic View.