Controlling inflation is among the most important objectives of economic policy. By maintaining price stability, policy makers are able to reduce uncertainty, improve price-monitoring mechanisms, and facilitate more efficient planning and allocation of resources, thereby raising productivity....

In a presentation at the Federal Reserve Banks of Kansas City's 2000 symposium, "Global Economic Integration: Opportunities and Challenges," Governor Brash of the Reserve Bank of New Zealand highlighted four issues related to global economic integration that affect central banks. First,...

Unemployment is one of the biggest problems facing most OECD countries, and there are strong demands on policymakers to provide solutions. But responsible policymakers must recognize there are clear limits to what monetary policy can do to help lower unemployment. Monetary policy does have an...