Based on lectures given as part of The Stone Lectures in Economics, this book discusses the problem of formulating monetary policy in practice, under the uncertain circumstances which characterize the real world. The first lecture highlights the limitations of decision rules suggested by the academic literature and recommends an approach involving, first, a firm reliance on the few fundamental and robust results of monetary economics and, secondly, a pragmatic attitude to policy implementation, taking into consideration lessons from central banking experience. The second lecture revisits Milton Friedman's questions about the effects of active stabilization policies on business cycle fluctuations. It explores the implications of a simple model where the policy maker has imperfect knowledge about potential output and the private sector forms expectations according to adaptive learning. This lecture shows that imperfect knowledge limits the scope for active stabilization policy and strengthens the case for conservatism.

How and for whose benefit the European Central Bank (ECB) will work is one of the most important issues facing Europe, and has been the subject of vast media and academic interest. Much of this discussion has been of an increasingly emotional and political nature and has served to blur rather than inform. Written by a team at the ECB, including Otmar Issing, its Chief Economist, this study provides the first comprehensive, inside, non-technical analysis of the monetary policy strategy, institutional features and operational procedures of the Eurosystem.

This second edition of The Directory of University Libraries in Europe provides extensive details of the central and other major libraries of European universities and, where appropriate, includes the libraries of attached institutes and research centres. Meticulously researched and revised, this title provides the most up-to-date information available and, to ensure accuracy and reliability, information is provided by the libraries and institutions concerned. Key Features: * Covers libraries throughout Europe, arranged alphabetically by country * Entries list full contact details, including email and internet addresses, and names of chief librarians and other relevant staff * Other invaluable information includes: areas of specialization, opening hours, entitlement to use the library, the size and composition of library holdings, online subscriptions and details of libraries' own publications * Fully indexed for ease of use.

Exploring the concept of 'colonial cultures,' this book analyses how these cultures both transformed, and were transformed by, their various societies. Challenging both the colonial vulgate, and the nationalist paradigm, Revisiting the Colonial Past in Morocco, examines the lesser known specificities of particular moments, practices and institutions in Morocco, with the aim of uncovering a 'new colonial history.' By examining society on a micro-level, this book raises the profiles of the mass of Moroccans who were highly influential in the colonial period yet have been excluded from the historical record because of a lack of textual source material. Introducing social and cultural history, gender studies and literary criticism to the more traditional economic, political and military studies, the book promotes a more complex and nuanced understanding of Moroccan colonial history. Employing new theoretical and methodological approaches, this volume encourages a re-assessment of existing work and promotes a more interdisciplinary approach to the colonial history of Morocco. Revisiting the Colonial Past in Morocco is a highly topical and useful addition to literature on the subject and will be of interest to students and scholars of History, Imperialism and more generally, Middle Eastern Studies.

Unlike some other reproductions of classic texts (1) We have not used OCR(Optical Character Recognition), as this leads to bad quality books with introduced typos. (2) In books where there are images such as portraits, maps, sketches etc We have endeavoured to keep the quality of these images, so they represent accurately the original artefact. Although occasionally there may be certain imperfections with these old texts, we feel they deserve to be made available for future generations to enjoy.

Exploring the concept of 'colonial cultures,' this book analyses how these cultures both transformed, and were transformed by, their various societies. Challenging both the colonial vulgate, and the nationalist paradigm, Revisiting the Colonial Past in Morocco, examines the lesser known specificities of particular moments, practices and institutions in Morocco, with the aim of uncovering a 'new colonial history.' By examining society on a micro-level, this book raises the profiles of the mass of Moroccans who were highly influential in the colonial period yet have been excluded from the historical record because of a lack of textual source material. Introducing social and cultural history, gender studies and literary criticism to the more traditional economic, political and military studies, the book promotes a more complex and nuanced understanding of Moroccan colonial history. Employing new theoretical and methodological approaches, this volume encourages a re-assessment of existing work and promotes a more interdisciplinary approach to the colonial history of Morocco. Revisiting the Colonial Past in Morocco is a highly topical and useful addition to literature on the subject and will be of interest to students and scholars of History, Imperialism and more generally, Middle Eastern Studies.

Dieses Handbuch beschreibt die Schwerpunktverlagerung, die sich in den letzten zehn Jahren vom Lernen mit Multimedia uber E-Learning mit vorwiegender Offline-Nutzung zum Online-Lernen mit Nutzung der Web 2.0-Technologie vollzogen hat und noch weiter vollzieht. Das Buch behandelt die Themen Wissenschaftliche Grundlagen zum Online-Lernen; Charakteristika des Online-Lernens; Design, Organisation und Werkzeuge des Online-Lernens; Evaluation des Online-Lernens; Online-Lernen in der Praxis."

Today, 318 million people in 15 countries use the Euro, which now rivals the importance of the US Dollar in the world economy. This is an outcome that few would have predicted with confidence when the Euro was launched. How can we explain this success and what are the prospects for the future? There is nobody better placed to answer these questions than Otmar Issing, who as a founding member of the Executive Board of the European Central Bank (1998 2006), was one of the Euro's principal architects. His story is a unique insider account, combining personal memoir with reference to the academic and policy literature. Free of jargon, this is a very human reflection on a unique historical experiment and a key reference for all academics, policy makers, and 'Eurowatchers' seeking to understand how the Euro has got to where it is today and what challenges lie ahead.

Today, 318 million people in 15 countries use the Euro, which now rivals the importance of the US Dollar in the world economy. This is an outcome that few would have predicted with confidence when the Euro was launched. How can we explain this success and what are the prospects for the future? There is nobody better placed to answer these questions than Otmar Issing, who as a founding member of the Executive Board of the European Central Bank (1998 2006), was one of the Euro's principal architects. His story is a unique insider account, combining personal memoir with reference to the academic and policy literature. Free of jargon, this is a very human reflection on a unique historical experiment and a key reference for all academics, policy makers, and 'Eurowatchers' seeking to understand how the Euro has got to where it is today and what challenges lie ahead.

How and for whose benefit the European Central Bank (ECB) will work is one of the most important issues facing Europe, and has been the subject of vast media and academic interest. Much of this discussion has been of an increasingly emotional and political nature and has served to blur rather than inform. Written by a team at the ECB, including Otmar Issing, its Chief Economist, this study provides the first comprehensive, inside, non-technical analysis of the monetary policy strategy, institutional features and operational procedures of the Eurosystem.

A leading economist and former central banker discusses the evolution of central bank communication from secretiveness to transparency and accountability. Central bank communication has evolved from secretiveness to transparency and accountability-from a reluctance to give out any information at all to the belief in communication as a panacea for effective policy. In this book, Otmar Issing, himself a former central banker, discusses the journey toward transparency in central bank communication. Issing traces the development of transparency, examining the Bank of England as an example of extreme reticence and European Central Bank's President Mario Draghi as a practitioner of effective communication. He argues that the ultimate goal of central bank communication is to make monetary policy more effective, and describes the practice and theory of communication as an evolutionary process. For a long time, the Federal Reserve never made its monetary policy decisions public; the European Central Bank, on the other hand, had to adopt a modern communication strategy from the outset. Issing discusses the importance of guiding expectations in central bank communication, and points to financial markets as the most important recipients of this communication. He discusses the obligations of accountability and transparency, although he notes that total transparency is a "mirage." Issing argues that the central message to the public must always be that the stability of a nation's currency is the bank's priority.

Based on lectures given as part of The Stone Lectures in Economics, this book discusses the problem of formulating monetary policy in practice, under the uncertain circumstances which characterize the real world. The first lecture highlights the limitations of decision rules suggested by the academic literature and recommends an approach involving, first, a firm reliance on the few fundamental and robust results of monetary economics and, secondly, a pragmatic attitude to policy implementation, taking into consideration lessons from central banking experience. The second lecture revisits Milton Friedman's questions about the effects of active stabilization policies on business cycle fluctuations. It explores the implications of a simple model where the policy maker has imperfect knowledge about potential output and the private sector forms expectations according to adaptive learning. This lecture shows that imperfect knowledge limits the scope for active stabilization policy and strengthens the case for conservatism.

This is a reproduction of a book published before 1923. This book may have occasional imperfections such as missing or blurred pages, poor pictures, errant marks, etc. that were either part of the original artifact, or were introduced by the scanning process. We believe this work is culturally important, and despite the imperfections, have elected to bring it back into print as part of our continuing commitment to the preservation of printed works worldwide. We appreciate your understanding of the imperfections in the preservation process, and hope you enjoy this valuable book.

CONTENTS: The Lessons of History; Stages of European Integration; The Role of Monetary Policy in the Integration Process; Common Currency as Pace-Setter for Political Union; The Labour Market & Social Union; Compensatory transfers; Possible Political Tensions; Institutional Arrangements & 'Good Money from Outside'; The Difficulties & Risks of Monetary Union; Barriers Against Deficits & Debts; Constitutional restraints; Ambivalence of the Political Union; Summary.