This innovative book uses mainstream theoretical analysis to explain the successes and failures of monetary reforms. Andreas Freytag argues that there is a systematic economic relationship between the success of a reform, the degree of monetary commitment and the institutional setting in a...

How can the notion of competitiveness be reasonably applied to an economy? What relation does high or low competitiveness have to the current account? Do huge and persistent imbalances really reflect competitive positions of local firms or are they merely due to a misalignment of exchange rates...