Monetary Theory and Policy Experience FROM THE PUBLISHER
Why do governments prefer to limit themselves to a specific inflation target? Specialists and senior officials of the European Central bank, the OECD and national central banks look beyond inflation targeting as the goal of monetary policy. Among the contributing, Nobel Laureate Robert Mundell surveys the history and prospects of the sovereignty of the state over money, while Michael Bordo and Lars Jonung use data of 14 industrialized countries to show relationships between fiscal and monetary regimes.
Author Biography: Axel Leijonhufvud is Professor Emeritus of the University of California at Los Angeles and Professor of Monetary Economics at the University of Trento.
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