IGNAZIO ANGELONI European Central BankCLAES BERG Sveriges RiksbankHENDRIK J. BROUWER De Nederlandsche Bank N.V.MICHAEL C. BURDA Humboldt University, BerlinLUIS CAMPOS e CUNHA Banco de PortugalSTEPHEN C. CECCHETTI Federal Reserve Bank of New YorkLAWRENCE J. CHRISTIANO Northwestern UniversityCARLO A. FAVERO Bocconi UniversityFRANCESCO GIAVAZZI Bocconi UniversityCHARLES A. E. GOODHART London School of Economics and Political ScienceOTMAR ISSING European Central BankMERVIN KING Bank of EnglandBENNETT T. MCCALLUM Carnegie Mellon UniversityALLAN H. MELTZER Carnegie Mellon UniversityPHILIPPE MOUTOT European Central BankMANFRED J.M. NEUMANN University of BonnREINHARD H. SCHMIDT Johann Wolfgang Goethe University, FrankfurtLARS E.O. SVENNSON Stockholm UniversityHANS TIETMEYER Deutsche BundesbankHARALD UHLIG Tilburg UniversityALAIN VIENNEY Banque de FranceJOSÉ VINALS Banco de EspanaIGNAZIO VISCO Organisation for Economic Cooperation and DevelopmentAXEL A. WEBER Johann Wolfgang Goethe University, Frankfurt
The start of the European monetary union gave additional impetus to the lively debate on the effects of monetary policy and the appropriate strategy for central banks. This book collects papers and comments by leading academics and central bankers such as O.Issing, M.King, B.McCallum, A.Meltzer, L.Svensson and H.Tietmeyer. The volume examines methodological questions, the actual role played by the financial sectors and labour markets in implementing monetary policy in Europe, and the likely future developments in these areas.
Notes on the Contributors Introduction Analysis of the Monetary Transmission Mechanism: Methodological Issues; B.T.McCallum Comment; L.J.Christiano & H.Uhlig Price Stability as a Target for Monetary Policy: Defining and Maintaining Price Stability; L.E.O.Svensson Comment; M.King & J.Vinals The Transmission Process; A.H.Meltzer Asymmetric Interest Rate Policy in Europe: Causes and Consequences; A.A.Weber Comment; C.A.Favero & P.Moutot Legal Structure, Financial Structure, and the Monetary Policy Transmission Mechanism; S.G.Cecchetti Comment; M.J.M.Neumann & I.Angeloni Differences Between Financial Systems in European Countries: Consequences for EMU; R.H.Schmidt Comment; C.A.E.Goodhart & A.Vienney European Labour Markets and the Euro: How Much Flexibility Do We Really Need?; M.C.Burda Comment; H.J.Brouwer & L.C.Cunha The Monetary Transmission Process: Concluding Remarks; O.Issing, F.Giavazzi, C.Berg, I.Visco & M.M.J.Neumann Index
Über den Autor
IGNAZIO ANGELONI European Central Bank
CLAES BERG Sveriges Riksbank
HENDRIK J. BROUWER De Nederlandsche Bank N.V.
MICHAEL C. BURDA Humboldt University, Berlin
LUIS CAMPOS e CUNHA Banco de Portugal
STEPHEN C. CECCHETTI Federal Reserve Bank of New York
LAWRENCE J. CHRISTIANO Northwestern University
CARLO A. FAVERO Bocconi University
FRANCESCO GIAVAZZI Bocconi University
CHARLES A. E. GOODHART London School of Economics and Political Science
OTMAR ISSING European Central Bank
MERVIN KING Bank of England
BENNETT T. MCCALLUM Carnegie Mellon University
ALLAN H. MELTZER Carnegie Mellon University
PHILIPPE MOUTOT European Central Bank
MANFRED J.M. NEUMANN University of Bonn
REINHARD H. SCHMIDT Johann Wolfgang Goethe University, Frankfurt
LARS E.O. SVENNSON Stockholm University
HANS TIETMEYER Deutsche Bundesbank
HARALD UHLIG Tilburg University
ALAIN VIENNEY Banque de France
JOSÉ VINALS Banco de Espana
IGNAZIO VISCO Organisation for Economic Cooperation and Development
AXEL A. WEBER Johann Wolfgang Goethe University, Frankfurt
Inhaltsverzeichnis
Notes on the Contributors Introduction Analysis of the Monetary Transmission Mechanism: Methodological Issues; B.T.McCallum Comment; L.J.Christiano & H.Uhlig Price Stability as a Target for Monetary Policy: Defining and Maintaining Price Stability; L.E.O.Svensson Comment; M.King & J.Vinals The Transmission Process; A.H.Meltzer Asymmetric Interest Rate Policy in Europe: Causes and Consequences; A.A.Weber Comment; C.A.Favero & P.Moutot Legal Structure, Financial Structure, and the Monetary Policy Transmission Mechanism; S.G.Cecchetti Comment; M.J.M.Neumann & I.Angeloni Differences Between Financial Systems in European Countries: Consequences for EMU; R.H.Schmidt Comment; C.A.E.Goodhart & A.Vienney European Labour Markets and the Euro: How Much Flexibility Do We Really Need?; M.C.Burda Comment; H.J.Brouwer & L.C.Cunha The Monetary Transmission Process: Concluding Remarks; O.Issing, F.Giavazzi, C.Berg, I.Visco & M.M.J.Neumann Index
Klappentext
The start of the European monetary union gave additional impetus to the lively debate on the effects of monetary policy and the appropriate strategy for central banks. This book collects papers and comments by leading academics and central bankers such as O.Issing, M.King, B.McCallum, A.Meltzer, L.Svensson and H.Tietmeyer. The volume examines methodological questions, the actual role played by the financial sectors and labour markets in implementing monetary policy in Europe, and the likely future developments in these areas.
Topicality in view of ongoing EMU debateContributions from leading academics in field on monetary economics and central bankingNew insights in methodologic issues relating to effects of monetary policyEMU and its consequences for the transmission process and the financial sector in EuropeContributors from Federal Reserve Bank of New York, Banco de Portugal, Banco de Espana, Banque de France, De Nederlandsche Bank NV, Sveriges Riksbank, Deutsche Bundesbank and the Bank of England
