Monetary Stability through International Cooperation

Monetary Stability through International Cooperation contains essays written by high ranking policy makers in the field of central banking and international finance, written in honour of André Szász, who has been Executive Director of De Nederlandsche Bank since 1973, responsible for international monetary relations. Colleagues from several other central banks, from finance ministries and from international institutions pay tribute to him by analysing the conditions fostering European as well as global monetary stability. The book provides an inside view of the thinking of monetary officials at the turn of 1993/1994, when the currency turmoil in the ERM of mid-1993 had subsided and views on its implications for exchange rate management and, more generally, for European integration were taking shape. Topics include exchange rate stabilisation, policy coordination and central bank independence. A second section, on the international monetary system, includes essays on the policy implications of present day dynamic financial markets as well as the role of the IMF. This book, written by `insiders for an insider', provides valuable insights to those who are interested in contemporary international monetary relations.

Klappentext

emMonetary Stability through International Cooperation/em contains essays written by high ranking policy makers in the field of central banking and international finance, written in honour of André Szász, who has been Executive Director of De Nederlandsche Bank since 1973, responsible for international monetary relations. Colleagues from several other central banks, from finance ministries and from international institutions pay tribute to him by analysing the conditions fostering European as well as global monetary stability. The book provides an inside view of the thinking of monetary officials at the turn of 1993/1994, when the currency turmoil in the ERM of mid-1993 had subsided and views on its implications for exchange rate management and, more generally, for European integration were taking shape. Topics include exchange rate stabilisation, policy coordination and central bank independence. A second section, on the international monetary system, includes essays on the policy implications of present day dynamic financial markets as well as the role of the IMF. This book, written by `insiders for an insider', provides valuable insights to those who are interested in contemporary international monetary relations. br/

Inhalt
I European monetary integration.- The relationship between economic, monetary and political integration.- Pros and cons of a two-speed monetary integration.- Central bank and government.- European exchange rate cooperation.- The economic and monetary relation between Germany and the Netherlands.- The Exhange Rate Mechanism after the Basle/Nyborg Agreement.- The importance of monetary targeting in the Economic and Monetary Union.- European monetary policy coordination.- Economic policy coordination and the role of fiscal targets.- The Monetary Committee as a promoter of European integration.- The Committee of Governors as a forum for European central bank cooperation.- Techniques for stability.- Europe in flux.- Financial relations between the Netherlands and Belgium: 1943 to 1993.- The integration of former Eastern Bloc countries into Europe.- II The international monetary system.- The merits of stable exchange rates.- Turbulence in the foreign exchange markets: old and new lessons.- Macro-economic performance and the international monetary system.- National financial liberalisation and international economic cooperation.- International adjustment and finance since Bretton Woods.- Half a century after Bretton Woods: the role of the IMF in the international monetary system.- The contribution of the IMF to exchange rate stability: efforts in monetary diplomacy.- The OECD and international economic cooperation.- Prudential supervision: a central bank function?.- Payment systems and central banks.- A post-mortem of the debt crisis.- The Dutch attitude towards capital liberalization.- Annex.- List of contributors.- Bibliography of André Szász.