Since the adoption of a flexible exchange rate system in 1973, central banks of most industrialized countries have ….> Opinions differ on whether central banks can stabilize exchange rates. Some analysts believe central bank intervention can … reduce exchange rate volatility by stopping speculative attacks against a currency. Other analysts, though, believe central …

A traditional function of the central bank is to control the price level. The fiscal theory of the price level …

regulations into harmony, and such harmonizing requires extensive international coordination and cooperation. In addition, central …

wholesale networks is that settlement is carried out by exchange of funds held in banks' reserve accounts at a central bank …

Central banks around the world potentially face a skeptical public when they announce a commitment to controlling … inflation. Some economists have argued that, to enhance credibility, central banks should adopt monetary growth rules or other …

Central banks throughout the world are moving to adopt long-run price stability as their primary goal. Whether … operating with multiple short-run goals or legislative mandates for price stability, virtually all central banks have recognized … better understand how central banks can best reduce inflation and what policies and operating procedures should be …

After two decades of successfully restoring price stability in much of the world economy, central banks begin the next … does not reappear as a serious policy problem? Another important question is whether central banks enjoy greater … distinguished experts from central banks, academic institutions, and financial markets from around the world.> Sellon and Buskas …

discussed how quickly a central bank should reduce inflation to its desired level following an inflationary episode. He argued … that a central bank is unlikely to wish to move immediately to price stability, since there are costs to disinflation and … agents have to learn about the central bank's commitment to price stability, also mean that a central bank may wish to react …

of these ideas and issues that will continue to challenge central bankers for years to come. The symposium was held at … distinguished group of central bank officials and academic, policy, and business economists to discuss these important challenges …