The Economics of New Currencies
As the European Union has been constructing a plan for monetary union, then seeing its foundations challenged, the successor states of the former Soviet Union have simultaneously been trying to cope wtih monetary disintegration. In both cases the economic issues centre on the relations between domestic monetary policy and stability and the external role of the domestic currency. But the relations between the zones of political and of monetary authority are equally important.
This volume contains papers presented at a CEPR conference of the same name, held in Frankfurt in June 1993, which considered the full range of these issues. The conference was attended by both academic specialists and central bankers and the exchanges mutually beneficial. The papers also benefited from these participants' contributions.