Monetary-policy

Most of the in-depth analysis of the euro and its likely future has been written by people who are trying to prove something - either that the euro is a good idea or a bad one. So it is refreshing to read a book which analyses the chances of the euro succeeding with no apparent bias.

The lack of bias may be due to it having been written by an American, who therefore has no particular axe to grind.

On that basis I recommend "A guide to the euro" by Professor H. Levin, ISBN 0-618-21547-6, published by Houghton Mifflin.

There is plenty in the book to please and concern the anti-euro lobby and the pro-euro lobbies alike. To find out what Professor Levin concludes about the euro you will need to read the book.

If you are looking for up-to-date reviews of various international macroeconomic topics, this book will probably have something to offer. It contains both the relevant theory and literature surveys on a wide range of subjects.

This much heralded account of the Federal Reserve is justly lauded in academic circles because Meltzer brings forth many Fed documents which have long been buried away and unavailable to scholars. He is able to pursue step-by-step Fed actions and relate what happened in all those many meetings behind closed doors. Through the mass of information he has uncovered and his own in-depth knowledge of monetary policy and the Fed, he is able to bring new facts to light and correct previous interpretations that are more often than not those of Friedman and Schwartz's A Monetary History of the United States.

The weaknesses of Meltzer's book stem from his massive archive of information and the strength of his predecessors. The sheer volume of information he is trying to convey prompts the narrative to drift and the reader sometimes loses the point. And, as a good academic historian, he is engaged in a dialogue with other historians of the Fed and monetary policy that can push the layman to the sidelines. Meltzer's history assumes the reader has a rather advanced knowledge of economics and finance such as an understanding of the real bills doctrine and the operation of an international gold standard. Also, the charts and tables are often not very helpful in understanding the text or at least could have been presented in a better manner.

Overall, Meltzer does not produce any stunning revelations but a great many correctives to previous accounts and much added detail. The novice to the history of US monetary policy would do better to read Richard Timberlake's book (though taken with a grain of salt because of its conservative leanings) or the classic work by Milton Friedman and Anna Schwartz.

Excellent statistical narrative that will allow you to gauge your home appreciation or weekly salary wrt the consumer price index. The results can be quite fascinating. For instance the 35 cent a gallon gasoline in 1973 should be 1.35 today. Or a 15,000 home in 1960 should be 87,000 today. For those penny pinchers like myself who are always trying to second guess the platitudes of our company pay raise proposals, this book will allow you to keep em straight. The primary shortcoming with this book though is that it ends in 1991. A revision really does need to be published yearly or otherwise each additional year after 1991 most be interpolated individually. Mr McCusker please update next year.

This lucid, plain, straightforward book is not necessarily the sort of thing one expects from an economist, yet author Stanley Fischer is one of our era's greatest economists. His work at the International Monetary Fund put him on the front lines during some of the twentieth century's most serious economic crises and panics. He has a unique and valuable perspective. His timely discussion of the IMF and the World Bank provides a sobering antidote to the rhetoric of both globalization and anti-globalization. Fischer reminds us that the IMF's many glaring failures and imperfections are the stumbles and flaws of an organization that has done good work to further a noble purpose. It also has proven willing and able to change when the facts do. For good reason, Fischer's essays sometimes read like the arguments of a defense attorney countering prosecutorial accusations. The IMF has come in for so much criticism in recent years that it is refreshing to discover so many points in its favor, and we find it both fair and prudent to consider them carefully.

This is a fascinating collection of articles on the vital question - should Britain enter the euro? Nine economists evaluate the economic and policy implications of Economic and Monetary Union (EMU). Three somewhat atypical representatives of business - Stephen Davies of the Institute of Directors, and the Lords Haskins and Simon - discuss its likely effect on British firms. Couldn't they find anybody from manufacturing industry?

Unfortunately, the editors include only two trade unionists, both of whom support EMU. Why didn't they find someone to speak for the majority of trade union members who oppose it? Finally, four MPs discuss its effect upon national sovereignty.

The contribution by John Edmonds, the GMB's General Secretary, is most revealing. He argues for conditionally supporting EMU. Yet he admits, "The tendency in any negotiations is for conditions to be successively stripped away until all that remains is a stark position of support covered by a few words of threadbare rhetoric." Quite!

The editors write that entering EMU "is intended to be a one-way shift towards future economic integration." But that is not all that EMU means: Edmonds openly says that he wants to 'achieve extensive political union'. That is why he supports our entry into the euro: the euro was, until recently, the key motor for driving us all into the single European state that the EU's leaders all want.

Blair has now had to accept that he cannot presently win a referendum on the euro. However, this does not mean that he will respect our wishes in future. The EU's leaders can advance on many different fronts and employ many different devices to form a single European state: the Euro-army, the Charter of Fundamental Rights, Corpus Juris, a single taxation policy, etc.

The majority of the British people do not want to enter the euro. Doesn't democracy have something to do with what people want?

Indian Economy Essays on Money and Finance is a wonderful book especially if u want to know lots about the Indian money market and the way finance is actually done in India.

Indian banking systems are different though not philosophically but practically speaking yes. A good buy for financial newcomers and specialists

The author's expertise in the subject matter becomes apparent when you read his lucid explanations of a subject matter that can be quite dry. He successfully intertwines historical events and human stories with the technical discussions of each section to keep the reader engaged and interested. Despite the breadth of the book it is clear that the author has spent considerable time researching the individual sections and has presented the material in a methodical and organized fashion. Thus it clearly serves as a useful professional guide and should be on every money manager's shelf. I especially enjoyed reading the beginning chapters which focus on the historical background and the arrangement of the global currency markets. The author has many clear examples to illustrate his points and thus the book will also appeal to the novice who wants to learn the fundamentals of the currency markets.

Daniels and VanHoose have put together an easy to read, real world applicable textbook. The topics covered are upper level collegiate international finance, but it's presented in a down to earth, orderly fashion. While I would have wanted color graphs, the full examples of complex operations (derivatives hedging, theoretical currency exchange rates and the like) more than made up the difference. They separate the elitist mathematics from that which students want and need. As a college student without a lot of time, that's a huge help. The most important teaching tool used extensively throughout the book is historical data. Being able to show why in theory, give evidence, and then present the deviations takes effort. There is no easy way to explain how the central banks around the world use different tactics in thier policies, but they got through it.

I graduated my college in feb.1988 majored in int'l trade. Now I engage in start-up company of computer. Nowadays I need several information in global society. But I has peace in this chaos world by virtue of this substract book by prof. Chacholiades. I am sorry that it is out of print. For the book in my shelf is worn out.