The Papers collected in this volume are those presented at the ninth Colloquium arranged by the Societe Universitaire Europeenne de Recherches Financi{ res (SUERF), which took place at Helsingcentsr, Denmark, in October 1980. The Society is supported by a large number of central banks, commercial banks, .and other fmancial and business institutions, as well as by academics and others interested in monetary and fmancial problems. Since its establishment in 1963 it has developed as a forum for the exchange of information, research results and ideas, valued by academics and practitioners in these fields, including central bank officials and civil servants responsible for formulating and applying monetary and fmancial policies. A major activity of SUERF is to organise and conduct Colloquia on subjects of topical interest to members. The titles, places and dates of previous Colloquia for which volumes of the collected Papers were published are noted on page ii. Volumes were not issued. for Colloquia held at Tarragona, Spain in October 1970 under the title "Monetary Policy and New Developments in Banking" and at Strasbourg, France in January 1972 under the title "Aspects of European Monetary Union"

The Colloquium at Wiesbaden was the seventh in a series organized by the Societe Universitaire Europeenne de Recherches Financieres (SUERF) at intervals since 1969. The titles, places and dates of previous Colloquia are noted on page ii, with brief particulars of the ensuing publications. From the beginning, the emphasis has been on money and finance in a European setting, and the most recent Colloquium, held in Wiesbaden for the three days beginning on September 29, 1977, followed this well-established pattern. The subject, "New Approaches in Monetary Policy," was divided into four aspects, each discussed in separate commissions, as described in the General Report (since the languages used by SUERF are English and French, it appears in the original French on page 327, and in an English translation, on page 355. Three other chapters and the Preface are in French. ) The separate commissions, each with its own chairman and rapporteur, were addressed by the authors of the specially written papers, all experts, active in their fields, and they also led the discussions. M. Raymond Bertrand, the President ofSUERF, was Chairman for the Colloquium as a whole, which was in plenary session for the opening and closing meetings. The Rapporteur General was Professor Paul Coulbois, whose report is mentioned above. Attendance at the Colloquium has risen over the years, and so has the number of papers presented.

The papers collected in this volume are those presented at the eleventh Colloquium arranged by the Societe Universitaire Europeenne de Recherches Financieres (SUERF) which took place in Madrid in October 1983. The Society is supported by a large number of central banks, commercial banks and other financial and business institutions, by treasury officials and by academics and others interested in monetary and financial problems. Since its establishment in 1963 it has developed as a forum for the exchange of informa tion, research results and ideas, valued by academics and practitioners in these fields, including central bank officials and civil servants responsible for formulat ing and applying monetary and financial policies. A major activity of SUERF is to organize and conduct Colloquia on sub jects of topical interest to members. The titles, places and dates of previous Col loquia for which volumes of the collected Papers were published are noted on the last page of this volume. Volumes were not produced for Colloquia held at Tarra gona, Spain in October 1970 under the title "Monetary Policy and New Develop ments in Banking" and at Strasbourg, France in January 1972 under the title "Aspects of European Monetary Union".

The Papers collected in this volume are those presented at the ninth Colloquium arranged by the Societe Universitaire Europeenne de Recherches Financi{ res (SUERF), which took place at Helsingcentsr, Denmark, in October 1980. The Society is supported by a large number of central banks, commercial banks, .and other fmancial and business institutions, as well as by academics and others interested in monetary and fmancial problems. Since its establishment in 1963 it has developed as a forum for the exchange of information, research results and ideas, valued by academics and practitioners in these fields, including central bank officials and civil servants responsible for formulating and applying monetary and fmancial policies. A major activity of SUERF is to organise and conduct Colloquia on subjects of topical interest to members. The titles, places and dates of previous Colloquia for which volumes of the collected Papers were published are noted on page ii. Volumes were not issued. for Colloquia held at Tarragona, Spain in October 1970 under the title "Monetary Policy and New Developments in Banking" and at Strasbourg, France in January 1972 under the title "Aspects of European Monetary Union"