Given all the evidence supporting Milton Friedman's proposition that inflation is now and every-where a monetary phenomenon, it seems that we are wrong when we tend to ignore the behaviour of the monetary aggregates at our peril. The total neglect of information about the monetary aggre-gates in...

Trustʺ or likewise confidenceʺ (the term preferred in this paper) are notions which have received considerable attention by economists in the last 8-10 years. In this contribution, much emphasis is put on the understanding what we really mean by confidenceʺ, what the differences between...

In this paper, we first formulate a number of working hypotheses about the likely contributions of exchange rate policy to economic development on the background of the famous trilemmaʺ which exchange rate policy has to face. Then, we broadly review experiences made by developing countries with...