Europe is in a period of rapid transition. The Single European Market has been completed, and many barriers to the free mvoement of goods, services, labour and capital have been removed. However the moves towards deeper European union, with full monetary union by 1999, have proved more problematic. Outside the EU, the collapse of communism has added more countries to the queue of EFTA nations applying for EU membership. This book, based on articles originally published in Economics and business Education which are here extensively revised and updated, takes a timely look at the...

This work explores the changing face of central banking in eastern Europe in the light of modern macroeconomic thinking, providing insights into the design of monetary policy institutions.