Analyses not only the history of money (mis)management in the US, Latin America, Europe and Japan, but also extract important policy of the future.
Under the direction of Nobel laureate Robert A. Mundell and Paul J. Zak, eminent contributors to Monetary Stability and Economic Growth offer a unique insight into the way that economists analyse the causes of money (mis) management in the US, Latin America, Europe and Japan, and prescribe stabilising reforms. Their lively discussion provides answers to various questions including: * How does monetary stability affect economic growth?* How can nations best achieve monetary stability?* When is monetary union desirable?* Which anchors for monetary stability are likely to be most effective?* How will the euro affect financial markets and the international monetary system?* Is international monetary reform possible, and how can it be achieved?The mechanisms that link monetary policy - including foreign exchange regimes and the international monetary system - to economic performance are examined, and the ways in which countries can stimulate economic growth are explored. This superb narrative volume, brought alive by the debate between leading economists, is contextualised by the editors' excellent introduction. It will be of immense interest to students, researchers and teachers of macroeconomics and financial economics as well as professional economists.
Contents:Foreword Steadman UphamPreface Monetary Stability and Economic Growth in Unstable Times Robert A. Mundell and Paul J. Zak1. The Sixth Lord Robbins Memorial Lecture: Reform of the International Monetary SystemRobert A. Mundell2. The State of the World EconomyIntroduced by Paul A. Samuelson3. The Euro in Europe and the WorldIntroduced by Christopher Johnson4. Monetary Policy and Economic Growth in Latin AmericaIntroduced by Robert L. Bartley5. Monetary Policy in the NAFTA Area and the Possibility of Monetary UnionIntroduced by Herbert Grubel6. Randall Hinshaw Memorial Lecture: Exchange Rate Policy in Latin America Arnold Harberger7. Is Monetary Stability Possible in Latin America?Introduced by Michael Connolly8. Monetary Policy and Economic Performance in Mexico Introduced by Judy Shelton and Abel Beltran Del Rio9. Economic Policy in Japan and East AsiaIntroduced by Jeffrey A. Frankel10. The Future of the International Monetary System Introduced by Robert SolomonIndex