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.
Preface Monetary Stability and Economic Growth in Unstable Times
Robert A. Mundell and Paul J. Zak
1. The Sixth Lord Robbins Memorial Lecture: Reform of the International Monetary System
Robert A. Mundell
2. The State of the World Economy
Introduced by Paul A. Samuelson
3. The Euro in Europe and the World
Introduced by Christopher Johnson
4. Monetary Policy and Economic Growth in Latin America
Introduced by Robert L. Bartley
5. Monetary Policy in the NAFTA Area and the Possibility of Monetary Union
Introduced by Herbert Grubel
6. Randall Hinshaw Memorial Lecture: Exchange Rate Policy in Latin America
7. Is Monetary Stability Possible in Latin America?
Introduced by Michael Connolly
8. Monetary Policy and Economic Performance in Mexico
Introduced by Judy Shelton and Abel Beltran Del Rio
9. Economic Policy in Japan and East Asia
Introduced by Jeffrey A. Frankel
10. The Future of the International Monetary System
Introduced by Robert Solomon