This paper discusses possible links between monetary arrangements in particular monetary union and economic growth. It is stressed that growth depends ultimately on how the real economy works: there is no monetary magic that can conjure up growth. But monetary policy can contribute to conditions...

The stock market, take-over bidders, executive pay setters, perhaps Stephen Littlechild himself, even last summer's weather, all seem to have been undermining RPI-X price-cap regulation. Until recently, price-cap regulation was regarded as demonstrably superior to US-style rate-of-return...

In this speech (given at the CFSresearch conference on the Implementation of Price Stability held at the Bundesbank Frankfurt am Main, 10. - 12. Sept 1998), John Vickers discusses theoretical and practical issues relating to inflation targeting as used in the United Kingdom doing the past six...