The Monetary Transmission Process. Recent Developments and Lessons for Europe.

The start of the European monetary union gave additional impetus to the lively debate on the effects of monetary policy and the appropriate strategy for central banks. This book collects papers and comments by leading academics and central bankers such as O.Issing, M.King, B.McCallum, A.Meltzer, L.Svensson and H.Tietmeyer. The volume examines methodological questions, the actual role played by the financial sectors and labour markets in implementing monetary policy in Europe, and the likely future developments in these areas.

IGNAZIO ANGELONI European Central Bank CLAES BERG Sveriges Riksbank HENDRIK J. BROUWER De Nederlandsche Bank N.V. MICHAEL C. BURDA Humboldt University, Berlin LUIS CAMPOS e CUNHA Banco de Portugal STEPHEN C. CECCHETTI Federal Reserve Bank of New York LAWRENCE J. CHRISTIANO Northwestern University CARLO A. FAVERO Bocconi University FRANCESCO GIAVAZZI Bocconi University CHARLES A. E. GOODHART London School of Economics and Political Science OTMAR ISSING European Central Bank MERVIN KING Bank of England BENNETT T. MCCALLUM Carnegie Mellon University ALLAN H. MELTZER Carnegie Mellon University PHILIPPE MOUTOT European Central Bank MANFRED J.M. NEUMANN University of Bonn REINHARD H. SCHMIDT Johann Wolfgang Goethe University, Frankfurt LARS E.O. SVENNSON Stockholm University HANS TIETMEYER Deutsche Bundesbank HARALD UHLIG Tilburg University ALAIN VIENNEY Banque de France JOSÉ VINALS Banco de Espana IGNAZIO VISCO Organisation for Economic Cooperation and Development AXEL A. WEBER Johann Wolfgang Goethe University, Frankfurt