• 1 Introduction
  • 2 Brief overview of inflation developments in selected industrialcountries in the period 1959-1998
  • 2.1 Rise and fall of the Bretton Woods regime
  • 2.2 The stylized facts
  • 2.3 Explanations of the Great Inflation
  • 3 Sound money and price stability in Germany
  • 3.1 The legacy of the Bundesbank and stability-oriented monetarypolicy
  • 3.2 The conduct of policy under monetary targeting
  • 4 Monetary targeting as a commitment device
  • 5 The Conduct of Monetary Policy and Monetary Policy Rules
  • 5.1 Brief reference to the literature
  • 5.2 A comparison of empirically estimated policy rules
  • 5.3 The role of money demand shocks
  • 5.4 Summary
  • 6 Conclusion
  • References