The great escape

Article Abstract:

Several economies have successfully used currency boards as alternatives to central banks as monetary policy agencies, including Hong Kong and Estonia, but some countries want to dismantle their currency boards. Lithuania is one such nation, but its unsettled economy makes currency board reform difficult.

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Monetary-policy mysteries

Article Abstract:

Central banks wield great power over short-term interest rates, as the International Monetary Fund's Sep 1996 'World Economic Outlook' report acknowledges. However, the report finds that the relationship between monetary policies and long-term economic conditions is complex.

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Monetary smoke signals

Article Abstract:

Different philosophies over money supply and monetary policy guide central banks from country to country. Policies are generally judged to be either too lax or too tight, but the perspectives of broad money as opposed to narrow money advocates consider different criteria.

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