Monetary Theory and Policy Experience

Monetary Theory and Policy Experience offers a broad context for the question of why governments prefer to limit themselves to a specific inflation target. Academic specialists and senior officials of the European Central Bank, the OECK and national central banks look beyond inflation targeting as the goal of monetary policy. Nobel Laureate Robert Mundell, surveys the history and prospects of the sovereignty of the state over money, while Michael Bordo and Lars Jonung use data of fourteen industrialized countries over the past century to show relationships between fiscal and monetary regimes.

• European Central Bank
• Inflation
• monetary policy
• money

CARLUCCIO BIANCHI University of Pavia, Italy LUIGI BONATTI University of Trento, Italy MICHAEL BORDO Rutgers University, New Brunswick, USA JOHN CROW former Chairman, Bank of Canada SYLVESTER EIJFFINGER Tilburg University, Netherlands FRANCESCO FARINA University of Siena, Italy GIORGIO FODOR University of Trento, Italy DALE HENDERSON Federal Reserve Board, Washington DC, USA DANIEL HEYMANN United Nations Economic Commission for Latin America, Santiago, Chile OTMAR ISSING Deutsche Bundesbank, Frankfurt, Germany LARS JONUNG Stockholm School of Economics, Sweden JINILL KIM University of Virginia, Charlottesville, USA ROBERT MUNDELL Columbia University, New York USA MUSTAPHA NABLI The World Bank, Washington DC, USA LUIGI PASINETTI University of Sacre Cuoro, Milan, Italy PEDRO POU Central Bank, Buenos Aires, Argentina KUMIHARU SHIGEHARA Organization for Economic Cooperation and Development, Paris, France LUIGI SPAVENTA University of Roma La Sapienza, Italy ROBERTO TAMBORINI University of Trento, Italy NIELS THYGESEN University of Copenhagen, Denmark

Policies and ethics