Inside the Bundesbank

1. Front Matter

   Pages i-xxii

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2. The Bundesbank: Committed to Stability

   • Hans Tietmeyer

   Pages 1-10

3. Bundesbank Independence, Organisation and Decision-Making

   • Leonhard Gleske

   Pages 11-19

4. German Monetary Unification: Domestic and External Issues

   • Reiner König, Caroline Willeke

   Pages 20-31

5. Monetary Policy: Targets and Instruments

   • Peter Schmid

   Pages 32-44

6. Relations between the Bundesbank and the Federal Government

   • Bertold Wahlig

   Pages 45-55

7. Banking Supervision: Who is Doing What?

   • Jürgen Becker

   Pages 56-67

8. Recollections of the German Treaty Negotiations of 1990

   • Hans Tietmeyer

   Pages 68-109

9. German Unification: A Personal View

   • Norbert Kloten

   Pages 110-119

10. Ethics and Morals in Central Banking: Do They Exist, Do They Matter?

    • Otmar Issing

    Pages 120-138

11. The Evolution of the Deutsche Mark as an International Currency

    • Carola Gebhard

    Pages 139-173

12. Profiles of Bundesbank Presidents

    • Stephen F. Frowen, Robert Pringle

    Pages 174-180

13. Back Matter

    Pages 181-188

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The Bundesbank is one of the world's most powerful and successful central banks, outstanding for its independence in the conduct of monetary policy and for its success in the achievement of relative price stability virtually throughout the post-war era. This collection of essays by the President of the Bundesbank, by former and present Board members and by Heads of Department within the Bundesbank offer a rare inside insight into its operations. The individual contributions to this volume explain the historical, legal and institutional basis of German internal and external monetary policy and highlight the goals of the German central bank and its role in the economy as a whole. The role of the Deutschmark as one of the leading international transaction, reserve and investment currencies is discussed in detail. Students of monetary management and the banking community throughout the world will benefit greatly from a study of this unique volume.

• bank
• banking
• investment
• monetary policy

• Department of Economics, University College London, UK

  Stephen F. Frowen

• Monetary Economics, Free University of Berlin, Germany

  Stephen F. Frowen

• Central Banking, Germany

  Robert Pringle

JURGEN BECKER Head, Deutsche Bundesbank's Department of Banking and Minimum Reserves CAROLA GEBHARD Assistant Managing Editor, Central Banking Publications LEONHARD GLESKE Deputy Chairman of the Supervisory Board of the Bank of Tokyo (Deutschland) AG, Frankfurt OTMAR ISSING Member of the Board of the Deutsche Bundesbank NORBERT KLOTEN Chairman of the Economic Advisory Council, Federal Ministry of Economics REINER KONIG Head, Department of Economics, Deutsche Bundesbank PETER SCHMID Head of the Money, Credit and Capital Market Division, Deutsche Bundesbank HANS TIETMEYER President of the Deutsche Bundesbank BERTOLD WAHLIG Head of the Law Department at the Deutsche Bundesbank CAROLINE WILLEKE Economist, Monetary Analysis Section, Money, Credit and Capital Markets Division, Deutsche Bundesbank

Policies and ethics