- 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
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