The book assesses the most exciting experiment in modern economic history - the German currency union of 1990 - on three levels. Firstly the international consequences are analysed utilising different paradigms of monetary theory. These controversial results lead to a closer look at the relationship between monetary policy and production in Germany, and thirdly, the book concludes with a reconsideration of the old economic question, whether money matters, applied to the German case.Foreword; S.Frowen & J.Hslscher - Introduction; S.Frowen & J.Hslsche r - The Dimensions of German Economic Unification: Keynote Address; S.Frowen - PART 1: INTERNATIONAL CONSEQUENCES - The Deutsche Mark Exchange Rate Impact; R.Konig - Comment; C.A.E.Goodhart - German Currency Union and the Crises in the European Monetary System; D.Cobham - Comment; H.Riese - German Monetary Union and Its Implications for the Rest of Europe; R.Barrell - Comment; A.Jacobsen -The Investment Diversion Effects of German Unification: Supplementary Comment; G.Pugh - PART 2: MONETARY POLICY AND GOODS MARKETS - Options to Resolve the 'Bad-Asset-Problem'; H.Tomann - Comment; David Homer - Incentives for Growth and Development; E.O.Smith - Comment; L.Copeland - Institutional Change and Economic Behaviour: Some Empirical Results, Supplementary Comment; U.Mummert - The Privatisation of the East-German Economy. The Roles of the 'Treuhandanstalt'; C.Kohler - Comment; J.Hslscher - PART 3: THE ROLE OF MONETARY POLICY RECONSIDERED - United German Currency Sphere: Challenges for Both Parts of Germany; N.Kloten - Comment; S.Dow - The Impact on German Monetary Policy; P.Bofinger - Comment; G.McKenzie - Currency Reform and Currency Union: A Comparison between 1948 and 1990; S.Tober - Comment; V.Chick - Comment; J.Jerger - IndexSTEPHEN FROWEN is Honorary Research Fellow in the Department of Economics at University College London and Senior Research Associate at the Von H?gel Institute, St Edmund's College, Cambridge, anl“¦
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