{"product_id":"the-european-monetary-system-paperback-9780521389051","title":"The European Monetary System (Paperback) 9780521389051","description":"\u003cfont face=\"Georgia\"\u003e\r\n\u003cp\u003e\u003cfont size=\"6\"\u003eThe European Monetary System\u003c\/font\u003e\u003cbr\u003e\r\n\r\n\r\n\r\n\r\n\r\n\u003c\/p\u003e\n\u003cp\u003e\u003cfont size=\"4\"\u003eFrancesco Giavazzi (Edited by), Stefano Micossi (Edited by), Marcus Miller (Edited by)\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003e9780521389051, Cambridge University Press\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003ePaperback, published 25 August 1989\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003e448 pages\u003cbr\u003e23 x 15.4 x 2.7 cm, 0.674 kg\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\r\n\r\n\u003cp align=\"justify\"\u003e\u003cem\u003e\u003cfont size=\"3\"\u003e\"...it should be said that Francesco Giavazzi, Stefano Micossi and Marcus Miller have edited an interesting volume to be recommended to anyone interested in the study of the EMS.\"   Journal of International Economics\u003c\/font\u003e\u003c\/em\u003e\u003c\/p\u003e\r\n\r\n\u003cp align=\"justify\"\u003e\u003cstrong\u003e\u003cfont size=\"3\"\u003eThe European Monetary System (EMS) has, since its inception in 1979, provided a fascinating example of policy co-ordination in practice. As concern about exchange-rate instability and global economic imbalances has grown, both academic researchers and policy-makers have looked to the EMS for lessons about co-operation on a wider scale. This volume contains the papers and proceedings of an October 1987 conference organised by the Centre for Economic Policy Research in co-operation with the Banca d'Italia and the Centro Interuniversitario di Studi Teorici per la Politica Economica (STEP). The conference brought together distinguished academics and practitioners from eleven European central banks. The papers offer a timely summary of current research, while the concluding panel discussion provides a valuable perspective on the concerns of policy-makers. This will be the definitive publication on the EMS for some years to come, and hence a basic reference for anyone interested in the international monetary system and policy co-ordination.\u003c\/font\u003e\u003c\/strong\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003eList of figures\u003cbr\u003e List of tables\u003cbr\u003e Preface\u003cbr\u003e 1. Introduction Niels Thygesen\u003cbr\u003e Part I. The International Environment: 2. The European Monetary System, the dollar and the yen Rudiger Dornbusch\u003cbr\u003e Discussion Robert Triffin\u003cbr\u003e Discussion Charles Wyplosz\u003cbr\u003e Part II. Disinflation, External Adjustment and Cooperation: 3. Monetary discipline and cooperation in the European Monetary System: a synthesis Jacques Melitz\u003cbr\u003e Discussion José Vinals\u003cbr\u003e 4. The role of the exchange-rate regime in a disinflation: empirical evidence on the European Monetary System Francesco Giavazzi and Alberto Giovannini\u003cbr\u003e Discussion William Branson\u003cbr\u003e 5. Inflation and the European Monetary System Susan M. Collins\u003cbr\u003e Discussion Jean-Jacques Rey\u003cbr\u003e 6. Economic growth and exchange rates in the European Monetary System: their trade effects in a changing external environment Stefano Vona and Lorenzo Bini Smaghi\u003cbr\u003e Discussion David Begg\u003cbr\u003e Part III. Exchange Rates, Capital Mobility and Monetary Coordination: 7. Exchange rates, interest rates, capital controls and the European Monetary System: assessing the track record Michael J. Artis and Mark P. Taylor\u003cbr\u003e Discussion Emil-Maria Claassen and Eric Perée\u003cbr\u003e 8. The stability and sustainability of the European Monetary System with perfect capital markets John Driffill\u003cbr\u003e Discussion Daniel Gros\u003cbr\u003e 9. Competitiveness, realignment, and speculation: the role of financial markets Maurice Obstfeld\u003cbr\u003e Discussion Marcus Miller\u003cbr\u003e Discussion Herakles Polemarchakis\u003cbr\u003e 10. Interventions, sterilisation and monetary policy in European Monetary System countries, 1979–87 Cristina Mastropasqua, Stefano Micossi and Roberto Rinaldi\u003cbr\u003e Discussion Wolfgang Rieke\u003cbr\u003e 11. Monetary policy coordination within the European Monetary System: is there a rule? Massimo Russo and Giuseppe Tullio\u003cbr\u003e Discussion Lucas Papademos\u003cbr\u003e Part IV. The Future of the European Monetary System: 12. The European Monetary System: a long-term view Tommaso Padoa-Schioppa\u003cbr\u003e 13. A new phase in the European Monetary System – exchange-rate constraint, capital liberalisation and policy coordination\u003cbr\u003e a report of the conference panel discussion Lamberto Dini, Peter Kenen, Rainer Masera, Wolfgang Rieke, Luigi Spaventa and Jacques Waitzenegger\u003cbr\u003e Index.\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003eSubject Areas: Monetary economics [\u003ca title=\"See our other books on Monetary economics\" href=\"https:\/\/freshlyprintedbooks.co.uk\/search?q=%22Monetary%20economics%20%5BKCBM%5D%22\"\u003eKCBM\u003c\/a\u003e]\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\r\n\u003c\/font\u003e","brand":"Cambridge University Press","offers":[{"title":"Default Title","offer_id":46007214047512,"sku":"9780521389051","price":38.99,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0730\/2037\/5320\/products\/9780521389051i_92137d6f-2f08-421c-81cc-31f1178ed71d.jpg?v=1691376226","url":"https:\/\/freshlyprintedbooks.co.uk\/products\/the-european-monetary-system-paperback-9780521389051","provider":"Freshly Printed Books","version":"1.0","type":"link"}