This paper discusses instruments and operating procedures of the conduct of monetary policy in the major industrial countries. The exchange rate mechanism of the European Monetary System (EMS) provides clear evidence of the role of exchange rates in influencing monetary policy; the commitment of...

This paper presents the overview of the Dutch economy. After a double-dip recession that ended in early 2014, a strengthening but moderate recovery led by exports and investment is underway, although lower production and exports of natural reduced gas reduced growth in the second quarter of...