Fifty years of the Deutsche Mark : Central Bank and the currency in Germany since 1948

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Bibliographic Information

Fifty years of the Deutsche Mark : Central Bank and the currency in Germany since 1948

with contributions by Ernst Baltensperger ... [et al.] ; with a preface by Hans Tietmeyer ; and a foreword by Otmar Issing ; edited by the Deutsche Bundesbank

Oxford University Press, 1999

Other Title

Fünfzig Jahre Deutsche Mark : Notenbank und Währung in Deutschland seit 1948

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Note

"The translation is based on the following German edition: Fünfzig Jahre Deutsche Mark. Notenbank und Währung in Deutschland seit 1948, Verlag C.H.Beck, Munich 1998"--T.p. verso

Includes bibliographical references and index

Description and Table of Contents

Description

This book provides detailed independent analyses of the successes and limitations of one of the most successful economic relationships in recent history: the Deutsche Mark and the Deutsche Bundesbank. With European economic and monetary union approaching, the lessons to be learnt from the German experience are now more important than ever. The Deutsche Mark has been one of the most stable currencies in the world for decades. The combination of a sound monetary structure and an anti-inflationary monetary policy have been the bedrock for unprecedented German economic success. This success, however, has not been unlimited or without risk. Fifty Years of the Deutsche Mark will give future European montary policy-makers the invaluable benefit of the German experience. The book combines chronological articles with others which follow the developments of a specific issue over the entire 50-year period. Issues covered include the central bank constitution, the central bank's relationship with fiscal policy-makers and with other banks, the role of the Bundesbank in European monetary integration, and the international significance of the Deutsche Mark. Individual accounts of the key monetary policy events in 1948 and 1990 as well as general articles on the `message' of German monetary policy and on academic deabte over German monetary policy round the book off. Sixteen eminent independent scholars were asked by the Bundesbank to contribute to this volume, and given full access to the Bank's records. The resulting articles provide comprehensive analysis of the successes and limitations of Europe's most powerful central bank. On June 20th, 1998, the Deutsche Mark will be 50 years old: this book will ensure that its legacy lives on.

Table of Contents

  • PART I: LEGACY AND FRESH START
  • PART II: THE CENTRAL BANK IN THE CONSTITUTIONAL AND FINANCIAL SET-UP OF THE FEDERAL REPUBLIC OF GERMANY
  • PART III: MONETARY POLICY IN THE FEDERAL REPUBLIC OF GERMANY
  • PART IV: ASPECTS OF MONETARY POLICY IN THE TWO GERMANYS
  • PART V: THE INTERNATIONAL SCENE

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