This volume contains papers on issues concerning applications of
monetary policy in several countries from the perspectives of
writers who work in both academic settings and for central banks.
The first paper investigates the usefulness of money as indicator
of future spending and inflation in the United Kingdom. The next
paper provides insights into the operation of the independent
Banque de France and compares them to the operation of other
central banks. It provides an overview of the common issues that
central banks deal with and a brief historic sketch of how the
current objective of price stability evolved as the overriding
objective of US and European central banks. Other topics include: a
summary of historical developments in the Bank of Israel; an
examination of whether there is a monetary aggregate useful as a
target for real output for Korea; and an examination of the
long-run neutrality of money.
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